Business Intelligence Co. Domo Raises $125M at $825M Valuation
February 07, 2014
Domo, a cloud-based executive management platform that gives users direct, real-time access to relevant business information, has closed $125 million in Series C financing, bringing the company's total VC backing to nearly $250 million. The new funding, which reportedly comes at an $825 million valuation, was led by TPG Growth and included participation from existing backers GGV Capital, Greylock Partners, IVP and Mercato Partners, as well as a host of new investors. Prior to the new round, Domo most recently received a $60 million investment at a $420 million valuation in March 2013.
Domo, launched by former Omniture founder Josh James, serves executives across the enterprise in a range of industries including media & entertainment, retail, travel & leisure, technology, healthcare, financial services and higher education. The additional capital will accelerate the company's growth and enable it to further expand sales.