NEWS
NEWS
NEWS
Domo raises $200m Series D, obtains unicorn status with $2b valuation
Business Intelligence startup Domo Inc. has raised $200 million Series D in a round led by BlackRock that also included Capital Group, Glynn Capital and GGV Capital.
Founded by former Omniture CEO Josh James in 2010, the company has remarkably been in stealth mode until this week, despite having 1,000 clients and making over $100 million a year; clients were forced to sign non-disclosure agreements to even see a demonstration of Domo’s offering.
James finally disclosed exactly what his newly fledged Unicorn startup was (the new round values Domo at $2 billion) at its first user conference, Domopalooza, Wednesday, and it’s a quite remarkable business intelligence platform.
The key selling point of Domo is its breadth of data collection; the platform integrates with Salesforce.com, Google Analytics and a huge range of other data including the likes of Box, LinkedIn and even Instagram, Twitter and Facebook (the company says its links into over 300 different data sources) and translates that raw information into business intelligence results.
In their own words “Domo brings your business and all its data together in one intuitive platform [and makes it] easy to see the information you care about in one place and use it to make faster, better‑informed decisions.
James describes Domo as “five startups in one”: Domo connects with data sources (one startup), cleans up and prepares the data for analysis (two more), visualizes the data, and runs analysis on it.
“There’s never been a platform as sophisticated as ours,” James added.
All this naturally doesn’t come cheaply, with the company charging companies $2,000 per user per year with a minimum spend of $25,000 per company per year, nice money if you can get it, and it would appear that Domo certainly is.
Including today’s round, Domo has raised $448.7 million over 9 rounds from 37 investors. Prior investors who didn’t participate in the new round included Salesforce Ventures, Institutional Venture Partners, Greylock Partners, Dragoneer Investment Group, Viking Venture Management, Andreessen Horowitz, and Jeff Bezos.
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