Visa Ventures’ strategic investment in a company that develops data products for better customer insights

GoodData®, a leading global analytics company, announced an investment and strategic partnership with Visa Inc., the world’s leader in digital payments.

„The investment further bolsters Visa’s commitment to providing access to aggregated data and analytics that help Visa clients and partners understand the impact and effectiveness of the critical decisions they are making today.”, according to the press release.

„For GoodData, the new investment amplifies its 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 company said.

“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,” says Roman Stanek, GoodData Founder, and CEO. “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.”

“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,” said Melissa McSherry, SVP and global head of Data, Security, and Identity products at Visa. “Our partnership with GoodData will allow us to do that.”

Last month, GoodData 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.

Visa Ventures is the corporate venture investment arm of Visa. With a global focus, the team engages with innovative payments, fintech, and technology companies. It seeks to identify and invest in the most attractive opportunities that give Visa early access to innovative technologies and high potential emerging partners.