Domo Inc is a US-based software company. It offers a cloud-based operating system that integrates every component of a business with real-time business dashboard visualization and key performance indicator reporting. The platform unifies data, systems, and people for a digitally connected business. The company provided solutions have application in different industries such as education, financial services, healthcare, hospitality, transportation, among others. The company's solution is comprised of seven elements including connectors, data warehouse and a query engine, Domo ETL, data analysis and visualization tools, artificial intelligence algorithms, collaboration tools, and apps and partner ecosystem. Geographically, the United States comprises maximum revenue for the company.
Domo operates a cloud-based platform that connects people, data, and systems in an organization, gives access to data and insights.
Domo also offers a Programmatic Revenue Solution that brings data from ad servers and sell-side platforms into a set of cards and dashboards built on practices in the advertising technology industry.
Josh James founded Domo Technologies on October 2010, which became simply Domo in December 2011, with its headquarters in American Fork, Utah.
On November 19, 2010 Domo announced raising $650,000 in seed funding from Jeff Kearl.
On January 31, 2012 Domo announced raising $20 million in series A funding from IVP (Institutional Venture Partners) and HWVP (Hummer Winblad Venture Partners). The company plans on using their series A funding to increase its sales and marketing efforts.
On March 11, 2013 Domo announced raising $60 million in series B funding from Mercato Partners, Greylock Partners, GGV Capital, Founders Fund, Bezos Expeditions, BYU Cougar Capital, and Jeff Bezos. The founder and CEO of Josh James made the following statement regarding the company's series B round:
Domo’s first two years were spent building a product to change the way people think about enterprise software. Then we began selling and raising capital to strengthen the balance sheet in preparation for our next phase of growth. We had an amazing response and raised twice the amount we intended. Investors with whom we met said they had never seen anything like Domo, and we ended up turning away more than $50 million in additional funds for this round. We’re encouraged by the belief investors and customers have in the power of Domo to transform business. The new capital, with the experience of our A-list team of investors, gives us incredible fuel and flexibility to accelerate growth.
On February 5, 2014 Domo announced raising $125 million in series C funding from TPG Growth (lead investor), Viking Venture Management, T.Rowe Price, Salesforce Ventures, Morgan Stanley, Meritech Capital Partners, Mercato Partners, IVP (Institutional Venture Partners), HWVP (Hummer Winblad Venture Partners), and Greylock Partners. At the time of announcing their series C funding round, Domo had a post money evaluation of $825 million. The company plans on using their series C funding to double its sales team and hire more engineers.
On April 27, 2017 Domo announced raising $100 million in series D funding from BlackRock (lead investor), Total Access Fund, TPG, IVP (Institutional Venture Partners), Greylock Partners (Green D Ventures), Chestnut Street Ventures, Castor Ventures, and Blue Ivy Ventures. Domo had a post-money evaluation of $2.3 billion. Josh James, the founder and CEO of Domo, made the following statement regarding the company's future plans:
As a private company, we have flexibility to invest and experiment with revolutionary ways to deliver data into the hands of business decision makers, to drive more effective and efficient decisions. We'll continue to make significant investments in our platform to ensure that both new and existing customers become even more successful by leveraging the power of Domo. The international family offices that invested in this round are delivering great leads on customers, partners and employees to accelerate our expansion in those regions.
Sayali Vijay Kajale