Total amount raised
$714.7 Millions
Latest funding date
4/1/2017
Location
Domo has successfully raised significant funding through multiple rounds, attracting notable investors such as BlackRock and Bezos Expeditions. The platform offers a suite of AI and data products designed to drive business innovation and insights.
Keep reading to explore the intricacies of Domo's fundraising journey and the investors backing this dynamic platform.
What Is Domo?
Domo, founded in 2010 by Josh James, is headquartered in American Fork, Utah. The company specializes in providing a cloud-based platform that offers real-time data and insights to executives and employees.
With a workforce of 501-1000 employees, Domo's platform connects CEOs to front-line employees, enabling them to manage business operations from their smartphones. The platform integrates data from various sources, offering tools for business intelligence, analytics, and AI-driven insights.
Domo's solutions cater to different organizational teams and industries, addressing specific business challenges and enhancing decision-making processes through comprehensive data integration and analysis.
How Much Funding Has Domo Raised?
- Seed Round
- Amount Raised: $650K
- Date: November 2010
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the platform and validate the business model.
- Angel Round
- Amount Raised: $10M
- Date: May 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and early market entry.
- Series A
- Amount Raised: $33M
- Date: July 2011
- Lead Investors: Benchmark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand the team.
- Series A
- Amount Raised: $20M
- Date: January 2012
- Lead Investors: IVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further product development and market penetration.
- Series B
- Amount Raised: $60M
- Date: March 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform capabilities and expand customer base.
- Series C
- Amount Raised: $125M
- Date: February 2014
- Lead Investors: TPG Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and international expansion.
- Series D
- Amount Raised: $235M
- Date: April 2015
- Lead Investors: BlackRock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance product offerings.
- Series D
- Amount Raised: $131M
- Date: March 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth and innovation in the platform.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: February 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series D
- Amount Raised: $100M
- Date: April 2017
- Lead Investors: BlackRock
- Valuation at Round: $2.3B
- Motivation Behind the Round: To support international expansion and business optimization.
Total Amount Raised: $714.65M. Current Valuation: $2.3B.
Key Investors
- BlackRock
- Details: BlackRock is a global investment management corporation based in New York City. It is one of the world's largest asset managers, with a diverse portfolio across various sectors.
- Investment Focus Areas: Technology, financial services, healthcare.
- Notable Investments: Apple, Microsoft, Alphabet.
- Bezos Expeditions
- Details: Bezos Expeditions is the personal investment company of Jeff Bezos, the founder of Amazon. The firm invests in a wide range of industries, focusing on innovative and disruptive technologies.
- Investment Focus Areas: Technology, space exploration, media.
- Notable Investments: Twitter, Uber, Blue Origin.
- TPG Growth
- Details: TPG Growth is the middle market and growth equity investment platform of TPG, a global private investment firm. It focuses on growth capital investments and middle-market buyouts.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Airbnb, Uber, Spotify.
- IVP
- Details: IVP (Institutional Venture Partners) is a later-stage venture capital and growth equity firm. It has a strong track record of investing in high-growth technology companies.
- Investment Focus Areas: Enterprise software, internet, mobile.
- Notable Investments: Slack, Twitter, Snap.
- Benchmark
- Details: Benchmark is a venture capital firm based in Silicon Valley. It is known for its early-stage investments in technology companies.
- Investment Focus Areas: Software, social media, e-commerce.
- Notable Investments: eBay, Uber, WeWork.
What's Next for Domo?
As Domo looks to the future, the opportunities for growth are vast. With a strong foothold in the Fortune 50, the company is poised to expand its international presence, leveraging new leads from family offices in Europe and Asia. Enhancing the Business Cloud platform remains a priority, ensuring it meets the evolving needs of a diverse customer base.
Future fundraising efforts could be on the horizon to support this ambitious expansion. However, Domo will need to navigate challenges such as intense competition in the data analytics space and the complexities of managing rapid international growth. Balancing innovation with customer satisfaction will be key to their continued success.
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