Visa and GoodData have announced a partnership to develop data products for better customer insights via an investment from Visa Ventures, the corporate venture investment arm of Visa.
The new investment amplifies GoodData’s leadership position as an innovative all-in-one data platform enabling companies to add new insight services to existing offerings, develop entirely new business models, and better partner with their business networks. The partnership will allow Visa to improve access to aggregated data and analytics that help its clients understand the impact and effectiveness of the critical decisions they are making today.
Roman Stanek, Founder and CEO of GoodData, commented: “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.”
Visa Ventures engages with innovative payments, fintech, and technology companies and seeks to identify and invest in the most attractive opportunities that give Visa early access to innovative technologies and high potential emerging partners.
Melissa McSherry, SVP and global head of Data, Security, and Identity products at Visa, said: “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.”
GoodData has most recently helped develop and launch the COVID-19 Commerce Insight project to analyze a billion engagements and 400 million transactions showing the impact of COVID-19 on global and regional consumer spending.
The global analytics firm helps companies of all sizes to leverage their data with GoodData’s platform to add new insight services to existing offerings, develop entirely new business models, and better partner with their business networks. The firm has recently launched freemium and growth-pricing tiers to allow more companies to start and grow data-led businesses. GoodData delivers insights to over 2,000,000 users in more than 145 countries. The majority of the Fortune 500 leverages the GoodData platform for purposes of data analysis.