Domo, Inc.

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Domo, Inc.
Company typePublic
Nasdaq: DOMO (Class B)
Russell 2000 Index component
IndustryComputer Software
FounderJosh James
Headquarters
American Fork, Utah
,
US
Area served
Worldwide
Key people
John Mellor (CEO & board member)
RevenueIncrease$258.0 Million[1] (2022)
Number of employees
824[2]
Websitedomo.com

Domo, Inc. is an American cloud software company based in American Fork, Utah, United States. It specializes in business intelligence tools and data visualization.[3]

History[edit]

Domo, Inc. was founded in 2010 by Josh James[4][5][6] After leaving Adobe, on October 2010, James started Shacho, Inc.[7] In December 2010, Shacho purchased Lindon-based Corda Technologies.[8] James changed Shacho's name to Domo.[9]

In March 2021, Domo was named on the Women Tech Council (WTC) 2020 Shatter List for the fourth consecutive year for hiring and retaining women in IT careers.[10]

Investors[edit]

Initial investors in Domo include 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.[4][11][12] In 2011, $20 million came from Silicon Valley-based Institutional Venture Partners, which also invested in Josh James’ previous start-up, Omniture.[4][11] 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.[13]

In February 2014, Domo announced Series C funding of an additional $125 million from multiple investors including TPG Growth, T. Rowe Price, and Viking Global Investors. Existing investors GGV Capital, Greylock Partners, IVP, and Mercato Partners also participated.[14]

In April 2015, Domo, Inc. raised another $200 million in Series D financing with a $2 billion valuation. The round was led by BlackRock and Glynn Capital Management, Capital Group and GGV.[15] 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.[16]

On April 27, 2017, Domo raised $200 million in Series D funding led by Blackrock, with participation from Capital Group, Glynn Capital Management, and GGV Capital.[17] Domo, Inc. was listed on the NASDAQ Global Exchange on June 29, 2018, with an initial offering of 9,200,000 shares at $21.00 per share.[18]

Overview[edit]

Domo, Inc is a cloud-based platform designed to provide real-time access to business data for decision makers across the company with minimal IT involvement.[19][20][11][21][22] It is a Software-as-a-Service (SaaS) venture.[4][19]

References[edit]

  1. ^ "Domo Announces Fourth Quarter and Fiscal 2022 Financial Results".
  2. ^ "Domo (DOMO)". Forbes.
  3. ^ Mountain, Dev. "Top 7 Hottest Tech Companies in Utah". KUTV. Retrieved 2018-06-20.
  4. ^ a b c d "U.S. Markets closed". Yahoo Finance. September 6, 2012. Archived from the original on 2012-08-04.
  5. ^ "On Utah's 'Silicon Slopes,' Tech Jobs Get A Lift". NPR. March 12, 2012. Retrieved 2012-09-06.
  6. ^ "Domo's Josh James: We're Making Every Employee Embrace Social Media, And It's Paying Off". TechCrunch. June 23, 2012. Retrieved 2012-09-06.
  7. ^ Ferguson, Joey. "Omniture founder Josh James launches Domo, Inc. business intelligence with $43 million". Deseret News. Archived from the original on 2012-09-05. Retrieved 2012-09-06.
  8. ^ "Shacho Gets $10M, Buys Corda - silicontap.com". www.techrockies.com. Retrieved 2018-08-17.
  9. ^ "Omniture founder obtains $33 mln for start-up". Reuters. July 14, 2011. Retrieved 2012-09-06.
  10. ^ "Women Tech Council Culminates Celebration of International Women's Day by Unveiling 2021 Shatter List" (Press release). 12 March 2021.
  11. ^ a b c "Business intelligence startup Domo pulls in another $20M". VentureBeat. Retrieved 2012-09-06.
  12. ^ "Series A Whopper: Benchmark Invests $33M in New BI Company Domo". TechCrunch. July 13, 2011. Retrieved 2012-09-06.
  13. ^ "Exclusive: Omniture co-founders, business intelligence, SAAS company domo raises $60m". TechCrunch. March 11, 2013.
  14. ^ "Josh James's Domo, Inc raises $125 million from TPG, others". Reuters. February 5, 2014. Retrieved 2014-02-06.
  15. ^ "Domo valued at $2 billion in latest funding, prepares for IPO". Wall Street Journal Blogs. April 8, 2015.
  16. ^ Chapman, Lizette (2016-03-22). "Domo Raises $131 Million, Creates Fund for App Developers". Bloomberg.com. Bloomberg. Retrieved 2016-12-14.
  17. ^ "Domo Raises Funding From BlackRock With IPO Plans on Hold". Bloomberg.com. 2017-04-27. Retrieved 2017-04-28.
  18. ^ "DOMO, INC. (DOMO) IPO". NASDAQ.com. Retrieved 2018-06-29.
  19. ^ a b "Omniture Co-Founder Launches New Business Intelligence Venture". Enterprise Apps Today. July 14, 2011. Retrieved 2012-09-06.
  20. ^ "What We Do :: Overview". DOMO. Retrieved 2012-09-06.
  21. ^ "Utah's Josh James among 192 Young Global Leaders". The Salt Lake Tribune. Retrieved 2012-09-06.
  22. ^ Hardy, Quentin (October 24, 2011). "The Big Business of 'Big Data'". The New York Times Blogs. Retrieved 2012-09-06.
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