Good Data, a startup founded in the Czech Republic and with headquarters in San Francisco, has closed a second round of financing – $2.5 million from Marc Andreessen, Ben Horowitz, OATV and General Catalyst. The company has now raised a total of around $4.5 million in capital.
You don’t see a lot of startups coming out of Eastern Europe, and even fewer who receive Silicon Valley capital. But founder Roman Stanek is an exception and a highly fundable individual. He sold his first startup, NetBeans, to Sun for $10 million and his second, Systinet, to Mercury Interactive/HP for $105 million. And like his previous startups, Stanek has perfected the running of a tech company with operations in both the U.S. and Prague.
Good Data is disrupting a highly lucrative multi-billion dollar market – data analytics. This is a sector dominated by huge software companies like IBM (via their Cognos acquisition), SAP (via Business Objects) and Oracle (via Hyperion). Companies pay hundreds of thousands of dollars for the software, plus large yearly maintenance fees. And now Good Data is offering a cloud based solution. For free.
Well, not free forever. It’s in open beta currently and there’s no charge at all for the dozen or so companies and hundreds of individuals testing the service. Eventually they’ll start charging a usage fee – they say they’re still finalizing how and what they’ll charge – but it will be far, far lower than the current solutions.
The company is entirely run on Amazon web services and boasts that they don’t own or lease a single server. That keeps their fixed costs down to a minimum, with zero capital expenditures and less need to worry about scaling. Too see more about the service check out the demo videos here.