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Fidelity Growth Partners Europe invests US$2M in GoodData Move marks second investment for £100M fund
Date:
Wed, 28/07/2010 (All day)
London, July 28th 2010 – Fidelity Growth Partners Europe (FGPE), a pan-European venture and growth equity investor, today announced that it has led a $6.5M investment round in GoodData, which provides an on-demand business intelligence service. FGPE joins other returning investors including General Catalyst, Andreessen Horowitz and Windcrest Partners.
GoodData was founded in 2007 in Prague by Roman Stanek, a successful serial entrepreneur, who spotted an opportunity to combine the power of web 2.0 technologies with the scale of cloud computing to deliver business intelligence as an on-demand service.
This Series A funding will be used to continue building out GoodData’s innovative cloud BI platform, and expand go-to-market efforts. Today, the company already counts Enterasys Networks, Software AG, Trend Micro, Salary.com and TriNet among its customer base, and has a growing list of technology partners including Amazon Web Services, Salesforce.com and Zendesk.
“Our strategy is to back outstanding European entrepreneurs and Roman Stanek is exactly that,” said Simon Clark, Partner at Fidelity Growth Partners Europe.
”Roman has a proven track record with Netbeans and Systinet, and GoodData is perfectly positioned to address a real and current business need. This is our first investment in Central Europe, but by no means our last. GoodData is an excellent example of the innovation emerging from Central and Eastern Europe and we are excited to be a part of it.”
Roman Stanek added “I have known the team at Fidelity Growth Partners for over a decade and am thrilled that they have chosen to invest in GoodData. It is always refreshing to find European investors backing European entrepreneurs and their businesses. Fidelity will add value to GoodData well beyond the financial investment.“
This investment has been made from FGPE’s latest £100M fund, which was announced earlier this year. The fund is solely focused on European entrepreneurs and businesses in consumer and enterprise technologies and cleantech.