Visa Ventures backs GoodData
San Francisco-based analytics company GoodData has announced an investment and strategic partnership with Visa; bringing its total funding to date to over $115 million.
Established in 2007, the company enables companies to embed real-time analytics within their products, applications, and devices to deliver insights for their front-line workers, customers, partners, and regulators. With this partnership Visa is looking to provide access to aggregated data and analytics to clients and partners, while GoodData will use the investment to add new insight services to existing offerings, and “develop entirely new business models.”
GoodData Insurance solutions range from claims and underwriting insights to customer lifestyle analytics.
“We’re extremely pleased to have Visa as an investor and partner in our mission to help companies of any size to become data companies. Visa’s investment will allow us to increase our focus on interactive self-service analytics, user interfaces and data visualizations, as well as expand our customer support for managing complex data governance, compliance, cybersecurity, and privacy matters.” – Roman Stanek, GoodData Founder, and CEO.
“As the world faces pandemic and economic challenges, there’s no better time to invest in areas that will improve the lives of consumers and businesses. With insights from data, we can help sellers, financial institutions and Visa’s extended global business network better understand and meet consumer needs, especially when those needs are changing fast. Our partnership with GoodData will allow us to do that.” – Melissa McSherry, SVP and global head of Data, Security, and Identity products at Visa.
Last month, GoodData helped develop and launch the COVID-19 Commerce Insight to show the impact of COVID-19 on global and regional consumer spending. GoodData also recently launched freemium and growth-pricing tiers to allow more companies to start and grow data-led businesses.
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The acquisition of YellowPepper will accelerate the adoption of Visa’s “network of networks” strategy by significantly reducing the time-to-market and cost for issuers and processors associated with accessing innovative and interoperable solutions, regardless of who owns or operates the payment rails.