GoodData, the leader in Data as a Service (DaaS) analytics infrastructure, reveals that it has acquired a $45 million credit facility from J.P. Morgan (NYSE: JPM).
Building on the firm’s recent adoption momentum and the release of the GoodData Cloud Native platform (GoodData.CN), GoodData’s management said they’ll use the funds to expand their global sales and engineering teams while continuing to invest in creating solutions for enterprise-grade analytics.
Jason Fournier, Industry Executive for Technology & Disruptive Commerce, JPMorgan‘s Middle Marketing & Specialized Industries business, said that they’re pleased to support GoodData with this new $45 million credit facility and “be part of the company’s growth story.”
Jason added that with this financing, GoodData will be able “to continue creating analytics solutions and grow their skilled engineering team to help more enterprises unlock true data-driven decision making.”
The credit facility has been announced at a time when there’s significant momentum for GoodData. The company reports 9x recurring revenue growth from its self-service channel last year and announced an investment and strategic partnership with digital payment provider Visa.
Roman Stanek, CEO at GoodData, said that the shift to a Cloud-native enterprise data infrastructure is “akin to the world moving from steam to electricity.” He believes it is “a paradigm shift, and we’re using this new support from J.P. Morgan to continue helping our enterprise customers adopt Data as a Service and stay competitive.”
Stanek remarked:
“We’re also now in a position to expand our world-class global sales team and engineering team globally, scale our product and sales operations, and double down on bringing cloud-native enterprise solutions to market.”
GoodData Platform SVP Radovan Janecek leads the international engineering teams. The new financing will “aid in Janecek’s work increasing his team’s size by 20 percent, building enterprise-scale DaaS tools, and helping more organizations adopt modern, cloud-native analytics.”
Janecek added:
“The initial release of GoodData.CN sparked an unprecedented amount of interest in cloud-native analytics infrastructure. This financing allows us to build on that momentum and stay two steps ahead of analytics’ trajectory, as we have been since our first cloud-native offering. We are excited to keep growing our world-class engineering teams.”