TOTVS Ventures leads series D investment in US-based business intelligence platform.

TOTVS Ventures, the investment arm of Brazil-based enterprise software company, has led a $22m series D investment in US-based GoodData, provider of a cloud-based big data analytics platform.  Existing GoodData investors, venture capital firms Andreessen Horowitz, General Catalyst Partners, Next World Capital and Tenaya Capital also participated in the round, which raises GoodData’s total funding to $75.5m.

Alexandre Dinkelmann, executive vice president of strategy and finance at TOTVS, who will join GoodData’s board of directors, said: “By combining GoodData’s intuitive analytics with our market-leading enterprise software, we are creating the cloud analytics leader in Latin America and giving access to Big Data solutions to our clients in Latin America.  We see enormous benefit for TOTVS’s customers, who now have access to the most innovative and advanced business intelligence platform.”

Roman Stanek, founder and chief executive officer of GoodData, said: “We founded GoodData as a cloud company because cloud has no barriers to scale or new markets.  We’re now taking GoodData to the next step: leveraging TOTVS’s dominant position in the region to extend our U.S. leadership to the $9bn Latin America software market.”

TOTVS Ventures, the corporate venture arm of TOTVS, was created in mid 2012 and began its operations in January 2013 with an investment in uMov.me, a Brazilian startup that offers a mobile platform for non-developers.