The word Godspeed is a noun that refers to a safe or successful journey. It is most commonly used as a way of granting good wishes to a person who is departing, whether on a journey, a new chapter in life, a specific task or some other situation in which well wishes are appropriate.
When someone wishes another person Godspeed, he or she is saying goodbye in a supportive and encouraging way. Goodbye and Godspeed can be said together as a way of sending someone off. This is a way of wishing someone good luck, health, safety and success. The use of God in the word is to be taken literally, but speed is actually derived from the Middle English word spede, or speid, which means prosper. A mother may wish her child Godspeed as he or she departs for war, or a boss may wish employees Godspeed as they leave for an important sales meeting.