Check out this excerpt from yesterday’s announcement.
Domo Closes $125 Million Series C Financing from TPG Growth, Fidelity Investments, T. Rowe Price, salesforce.com and Others
With annual growth far exceeding 100% and approximately 500 signed customers, Domo has now raised more than $250 Million
SILICON SLOPES, Utah – February 5, 2014 – Domo, a software-as-a-service (SaaS) venture launched by Omniture co-founder Josh James to redefine the business intelligence market and transform the way business is managed, today announced it has closed $125 million in Series C financing, bringing total funding to more than $250 million. TPG Growth, the middle market and growth equity investment platform of TPG, led the round and will take a board seat. Dragoneer Investment Group, Fidelity Investments, Morgan Stanley Investment Management, salesforce.com, T. Rowe Price and Viking Global Investors also participated; while previous investors GGV Capital, Greylock Partners, IVP and Mercato Partners also joined the round. Allen & Company LLC served as an advisor.
Today Domo, with annual growth far exceeding 100 percent, is experiencing sequential quarterly sales growth between 25 and 40 percent and has signed roughly 500 customers.
“We spent our first two years developing a product to change the face of enterprise software and to change the speed of business,” said James. “Over the last year, we built up our leadership team and have created a solid foundation for sales and marketing. We’ve been closing deals at an unprecedented rate and our reps are regularly blowing past quota. This additional capital will enable us to further expand sales as quickly as possible and will ensure that we can achieve our goals in an incredibly profound way.”
Click to read the full press release.