Domo Closes $100M in Series D2 Extension Financing With a $2.3B Valuation
SILICON SLOPES, Utah – April 27, 2017 – Coming off the momentum of Domopalooza 17, Domo’s third annual user conference, and a record fourth quarter which ended January 31, Domo announced today that it has closed $100 million in a Series D2 Extension financing at a post-money valuation of $2.3 billion. The round was led by existing investor BlackRock, with a significant percentage of funds coming from international family offices in Europe and Asia.
With the latest influx of capital, Domo is now backed by close to $700M, which supports Domo’s international expansion and continued focus on transforming how business is managed with The Business Cloud, Domo’s business optimization platform.
“The vision of how Domo revolutionizes the way business is managed is catching fire,” said Josh James, Domo founder and CEO. “Besides an office suite, Domo is the only software that CEOs and CXOs use to run their business. And not just any CEOs. With more than 20 percent of the Fortune 50 as customers, we have Fortune 50 and Fortune 10 CEOs and CXOs as active users. We are humbled by our customers’ daily feedback about how Domo is transforming the way they run their businesses. Ninety-nine percent of the world hasn’t figured out the dramatic change that we bring to an organization, but one percent has, and it changes their world.”
James continued, “As a private company, we have flexibility to invest and experiment with revolutionary ways to deliver data into the hands of business decision makers, to drive more effective and efficient decisions. We’ll continue to make significant investments in our platform to ensure that both new and existing customers become even more successful by leveraging the power of Domo. The international family offices that invested in this round are delivering great leads on customers, partners and employees to accelerate our expansion in those regions.”
Domo helps all employees – from the CEO to the front-line worker – optimize business performance by connecting them to the right data and people they need to improve business results. Domo’s Business Cloud is the world’s first customizable platform that enables decision makers to identify and act on strategic opportunities in real time. The company works with the world’s leading and most progressive brands across multiple industries including retail, media and entertainment, manufacturing, finance and more. For more information, visit www.domo.com. You can also follow Domo on Twitter, Facebook, LinkedIn, Google+, Instagram and Pinterest.
Domo, Domo Business Cloud and The Business Cloud are trademarks of Domo, Inc.