Domo (company)

History

Domo, Inc. was founded in 2010 by Josh James, who also co-founded the web analytics software company Omniture in 1996, which he took public in 2006. In 2009, three years after taking the company public, James sold Omniture to Adobe Systems Inc. for $1.8 billion. In October 2010, after leaving Adobe, James started Shacho, Inc. Two months later, as one of its first moves, Shacho purchased Lindon-based Corda Technologies to jump start the data visualization component of the product. At the time, Corda had grown to about $10 million in annual revenue. James changed Shacho's name to Domo, which means thanks in Japanese.

Investors

As of December 2016 the company has raised a total of $589 million. Benchmark Capital, Andreessen Horowitz, Ron Conway and David Lee of SV Angel, Hummer Winblad, salesforce.com’s Marc Benioff, and Fraser Bullock of Sorenson Capital invested the first $43 million. Later on in 2011, $20 million came from Silicon Valley-based Institutional Venture Partners, which previously invested in Josh James’ previous start-up, Omniture. In 2013, the company announced a Series B investment of $60 million from GGV Capital, Greylock, Bezos Expeditions, and Co-CEOs of Workday, Aneel Bhusri and Dave Duffield. In February 2014, Domo announced Series C funding of an additional $125 million from TPG Growth, T. Rowe Price, Fidelity Investments, salesforce.com, Morgan Stanley Investment Management, Viking Global Investors, and Dragoneer Investments Group. Existing investors GGV Capital, Greylock Partners, IVP, and Mercato Partners also participated. There also was a investment in March 2014 with an undisclosed amount. In April 2015, Domo, Inc raised another $200 million in Series D financing with a $2 billion valuation. The round was led by BlackRock. Glynn Capital Management, Capital Group and existing investor GGV also participated. By that time the company passed the $1 billion valuation threshold and is one of the so called unicorns in the industry. In March 2016 the company closed a Series D investment round of $131 million with its existing investors and new investors, including Credit Suisse and Capital Advisors.

Overview

Domo, Inc is a form of business intelligence (BI) that is a business management platform, delivered as a service, to CEOs and executives. The service is designed to provide direct, simplified, real time access to business data without any IT involvement. It is a software-as-a-service (SaaS) venture. The company's board of directors includes Matt Cohler and Mark Gorenberg.

Awards and recognitions

In 2011, Forbes named Domo #73 on their Top 100 list of America's Most Promising Companies. The company was named the #1 top startup to watch on the UV50 Top 10 for 2012. AlwaysOn named Domo a Top 100 On Demand company in 2013. In 2014, Domo, Inc founder Josh James won the Entrepreneur Award from Business Intelligence Group. In 2015, Domo, Inc was named a Technology Pioneer by the World Economic Forum.

In 2014 and 2015, Domo, Inc. was named among the "Best Places to Work" in Utah.

In 2016, Domo was ranked #18 on the Forbes Cloud 100 list.

In 2017, Domo was recognized as a "niche player" by Gartner in its annual Business Intelligence and Analytics Platforms Magic Quadrant. Of 24 vendors evaluated by the agency, Domo outranked five on the "Completeness of Vision" axis, and nine on the "Ability to Execute" axis.

Customers

Domo's customers include: Air Canada, American Kiosk Management, eBay, Fox Sports, Goodwill, H & R Block, Lendio, National Geographic, Nissan, Ogio, Randall-Reilly, SAB Miller, Sage, Toys R Us, and Xerox, among many others.