GoodData is rapidly becoming a key example of the technology innovation emerging from Central Europe – and laying a bet on Europe seems to be paying off for Fidelity Growth Partners Europe, the venture and growth equity investor, which backs European entrepreneurs exclusively.
It’s invested $2 million in the startup, the second investment for the £100 million fund, leading an overall $6.5 million investment round. GoodData provides an on-demand business intelligence services. Other returning investors include General Catalyst, Andreessen Horowitz and Windcrest Partners.
GoodData will use the cash to buld out its cloud BI platform, and expand marketing. The company now has Enterasys Networks, Software AG, Trend Micro, Salary.com and TriNet among its customer base.
Back in October last year GoodData raised $2.5 million in Series C funding from Andreessen Horowitz, General Catalyst Partners and other undisclosed investors. It also counts Tim O’Reilly on its board.
Its data analytics solution is considered by some to be more cost-effective than similar products offered by IBM, SAP and Oracle since its business intelligence services are run entirely on Amazon Web Services.
GoodData was founded in 2007 in Prague by Roman Stanek, a serial entrepreneur.
Stanek has previously written for TechCrunch about how Europe is starting to produce first class tech companies.