GoodData Raises $22M From Latin America’s Largest Enterprise Software Company

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GoodData has raised $22 million in a Series D round, with funding led by São-Paulo-based TOTVS Ventures, the investment arm of TOTVS S.A., the largest enterprise software company in Latin America. Also participating were Andreessen Horowitz, General Catalyst Partners, Next World Capital and Tenaya Capital, who also participated in the latest round. This is TOTVS’ first investment outside Brazil.

The company offers a cloud-based data analytics service with pre-configured templates to analyze company data. A customer gets support from GoodData with the integration of the company data. Customers then track, segment and target their information using the GoodData platform.

A cloud-based business intelligence technology company, GoodData has now raised $75.5 million and looks poised to join the IPO crowd, at least at some point. Founded in the Czech Republic by Roman Stanek and headquartered in San Francisco, the company is one of the leaders in the emerging new business intelligence market.

“I prefer not to talk about specific exit strategies,” Stanek said in an email interview today. “But I can say we are absolutely focused on being the leading cloud analytics company, both in the U.S. and globally. If we continue to execute on our plans, then IPO could be possible in the next few years.”

Stanek said that the TOTVS team and its clout in Latin America were factors for Good Data in accepting the investment.

TOTVS describes itself as a software, services and technology company. It has 55.4 percent of market share in the Brazil technology market and Latin America with 35 percent, according to Gartner Research. Gartner calls TOTVS the biggest software company in emerging countries and the 6th in the world. In all, TOTVS is a consortium  of 25 companies.

GoodData competes with solutions from companies, such as IBM, SAP and Oracle, as well as a number of data analytics companies. It also competes with Birst and services such as Bime Analytics.