GoodData Delivers Record-Breaking Second Quarter 2012
Posted August 7, 2012 by Vanessa Harford, Marketing Director AsiaPacific in PRWire
During the quarter, GoodData continued to capitalize on the market shift from legacy business intelligence systems, mostly delivered by IT, to flexible, interactive and easy to use cloud-based platforms, demanded by business users.
According to Gartner, "data discovery alternatives to enterprise BI platforms offer highly interactive and graphical user interfaces built on in-memory architectures to address business users' unmet ease-of-use and rapid deployment needs. What began as a market buying trend in 2010 has only continued to expand. Sales results for vendors in this sector have been stellar and well above the market average."
GoodData grew quarterly bookings by 280 percent year-over-year, and 42 percent quarter-over-quarter. Monthly recurring revenue during the second quarter increased by 200 percent. In addition, GoodData signed its largest customer contract to date and closed the largest number of six-figure contracts in the company's history.
Notable new and expanded customer relationships during the quarter include Adobe, BELL, eMusic, HootSuite, Marketo, Marketron, MindBody, NetSuite, Pandora, Redfin and Time Warner. These companies are adopting GoodData to take charge of their data and turn it into a powerful business advantage.
“Analytics are a key part of Marketron’s Mediascape platform,” said Tony Gaughan, SVP Products and CTO at Marketron. “Realizing the many challenges in bringing superior BI to market, we are partnering with GoodData because their expertise blends very well with our vision—while being cost effective and agile. Using GoodData will differentiate our entire product solution in the marketplace.”
A large number of the new customers in the quarter built their data monetization product on top of the Powered By GoodData cloud platform, which is available through the GoodData partner program. The GoodData partner program experienced strong growth during the quarter, with over 20 new partnerships and an extended geographic presence, with the launch of GoodData AsiaPac.
During the second quarter of 2012 GoodData was recognized for its technology innovation, leadership and business performance by a variety of industry awards, including:
Winner of the 2012 TiE50 Software/Cloud Computing
Winner of the Lead 411 "Hottest Companies in San Francisco"
Finalist for the CODiE Best Business or Competitive Intelligence Solution
Finalist in the Red Herring Americas 2012
Part of the The Hot 100 - The Best Privately Held Software Companies (JMP Securities).
"GoodData delivered yet another record-breaking quarter with strong growth in bookings, customers and our people," said Roman Stanek, CEO and co-founder of GoodData. "The $25 billion business intelligence space is under disruption, and we’re at the forefront of this wave. Companies are shifting spending away from legacy business intelligence and are investing in GoodData's cloud platform to monetize and take action on their data. ”
 Gartner, Inc. Magic Quadrant for Business Intelligence Platforms by John Hagerty, et. all, February 2012. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
GoodData provides a cloud-based platform that enables more than 6,000 global businesses to monetize big data. GoodData is headquartered in San Francisco and is backed by Andreessen Horowitz, General Catalyst Partners, Fidelity Growth Partners, Next World Capital, Tenaya Capital and Windcrest Partners.