What is Domo?
Domo operates as a comprehensive cloud-based platform that empowers businesses to convert raw data into actionable insights. Through intuitive dashboards and custom applications, Domo leverages AI and data science to provide a secure and scalable foundation for decision-making. The platform aims to streamline data analysis, enabling organizations across various industries to gain a competitive edge by understanding their operational performance and market trends more effectively. Its core offering revolves around making complex data accessible and usable for all levels of an organization.
How much funding has Domo raised?
Domo has raised a total of $630.6M across 6 funding rounds:
Angel/Seed
$10M
Series A
$33M
Series B
$60M
Series C
$125M
Series D
$200M
Stock Offering
$202.6M
Angel/Seed (2011): $10M with participation from Andreessen Horowitz, Hummer Winblad Venture Partners, Paul Sagan, Hiroshi Mikitani, Dan Rose, Lars Dalgaard, John Pestana, Steven Singh, David Lee, Mark Gorenberg, and Marc Benioff
Series A (2011): $33M led by Benchmark Capital
Series B (2013): $60M supported by David Duffield, Cougar Capital, Fraser Bullock, Mercato Partners, IVP, Greylock Partners, Bezos Expeditions, Aneel Bhusri, Founders Fund, and GGV Capital
Series C (2014): $125M featuring T. Rowe Price, Fidelity Investments, Mercato Partners, IVP, Salesforce, Greylock Partners, Viking Global Investors, TPG Growth, Dragoneer Investment Group, Morgan Stanley Investment Management, and GGV Capital
Series D (2017): $200M backed by Capital Group, Blackrock, Glynn Capital, and GGV Capital
Stock Issuance/Offering (2018): $202.6M with participation from Undisclosed
Key Investors in Domo
T. Rowe Price
T. Rowe Price is a prominent investment management firm founded in 1937, offering a wide range of investment services to individuals and institutional investors globally. They specialize in managing equity and fixed income mutual funds, investing across public markets.
Salesforce
Salesforce, a global leader in CRM software since 1999, provides cloud-based solutions for sales, service, marketing, and e-commerce. They are known for their comprehensive suite of tools designed to transform customer relationships through technology.
GGV Capital
GGV Capital is a global venture firm established in 2000, investing in early-stage to growth-stage companies across social/internet, enterprise tech, and smart tech sectors. They support founders worldwide with a focus on building category leaders.
What's next for Domo?
With substantial enterprise-level backing and a recent strategic investment, Domo is well-positioned for continued expansion and innovation. The company's focus on AI and data science suggests a strategic direction towards deepening its analytical capabilities and broadening its application suite. Future developments are likely to center on enhancing predictive analytics, improving user experience through more sophisticated app development, and further scaling its cloud infrastructure to accommodate a growing global client base. This sustained capital infusion will support Domo's mission to democratize data insights and drive digital transformation for its customers.
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