Will Scully-Power

Good data raises venture funding from Marc Andreessen
April 27, 2009, 4:07 am
Filed under: Business Intelligence | Tags: ,

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.

Too see more about the service check out the demo videos here.

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