Domo Welcomes Silicon Valley Veteran Bruce Felt As Chief Financial Officer
Former SuccessFactors CFO Joins Domo; Helps Position Company for Growth
Silicon Slopes, Utah – August 21, 2014 – Domo, a software-as-a-service (SaaS) venture started by Omniture co-founder and former CEO Josh James to redefine the business intelligence (BI) market, today announced the appointment of Bruce Felt as Chief Financial Officer (CFO).
Mr. Felt brings more than 25 years of experience in the financial operations and management of high technology companies to Domo. For almost six years, Felt was CFO of SuccessFactors, where he guided the company through a public offering, six acquisitions and the $3.4 billion sale of the business to SAP. He has served as CFO for LANDesk Software, Auction.com as well as Qualix Group, where he led its public offering and merger into Legato Systems, which was later acquired by EMC. He also founded and served as CFO and head of sales for Renaissance Software.
“As Domo continues to accelerate at breakneck speed, it’s critical that we maintain operational strength and excellence,” said Josh James, Domo founder and CEO. “Bruce has a tremendous track record in optimizing all aspects of financial operations to support fast-growth businesses. To have a CFO with such significant SaaS experience is a huge plus. I am excited to have Bruce partner with me and my team as we continue to launch an entirely new form of enterprise software designed to serve CEOs, CFOs, CMOs and other managers across the entire business. For too long, these executives have had reams of data and no ability to extract value from it.”
“Domo has the potential to be one of the most game-changing opportunities that I’ve ever seen,” said Felt. “Domo’s product is truly differentiated and the management team Josh has assembled could easily be running a multi-billion business. Domo has focus and momentum. I’m looking forward to helping facilitate its growth.”
Today, Domo announced another outstanding sales performance of more than 40 percent sequential quarterly growth, and is far exceeding annual growth of 100 percent.
The company’s growing roster of top-flight customers includes an enviable list of the world’s most recognized brands across a wide range of industries –including travel and entertainment, media and publishing, financial services, healthcare, technology and retail.
James added, “From the beginning, we set out to deliver a solution that’s bigger than BI and more than analytics. It’s great to see the market sending us clear signals that we have the right product, the right team and are going after the right opportunity. As we continue to scale, we will remain focused on delivering an exceptional experience for the business user.”
Domo is a cloud-based executive management platform that gives users direct, real-time access to all the business information they care about, in one place.
With $250 million in funding, Domo is backed by an all-star list of angels and investors including Benchmark, Fidelity Investments, Founders Fund, GGV Capital, Greylock Partners, IVP, salesforce.com, TPG Growth, T. Rowe Price, WPP and Zetta Venture Partners, plus CEOs of the world’s largest SaaS and Internet businesses.
Domo’s founding team consists of some of the most sought after talent in the industry with experience that includes Amazon, American Express, Ancestry.com, eBay, Endeca, Facebook, Google, LinkedIn, MLB.com, Omniture, salesforce.com and SAP.
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