Domo (company)

Domo
Private
Industry Computer Software
Founder Josh James
Headquarters American Fork, Utah, United States
Area served
 Worldwide
Key people
 Josh James (Founder),(CEO)
Website domo.com

Domo is an American computer software corporation headquartered in American Fork, Utah, United States.

History

Domo was founded in 2010 by Josh James who also cofounded web analytics software company Omniture in 1996, which he then took public in 2006.[1][2][3] In 2009, three years after taking the company public, James sold Omniture to Adobe Systems Inc. for $1.8 billion. After a year at Adobe, James left to start Shacho, Inc.[4] As one of its first moves, Shacho purchased Lindon-based Corda Technologies in October 2010, which had grown to about $10 million in annual revenue. James then changed Shacho's name to Domo, which means thank you in Japanese.[5] He then focused Domo on helping CEOs and other executives change the way they manage their business.

The company has raised a total of $250 million. 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 invested the first $43 million [1][6][7] Later on in 2011, $20 million came from Silicon Valley-based Institutional Venture Partners, which previously invested in Josh James’ previous start-up, Omniture.[1][6] In 2013, the company announced $60 million from GGV Capital, Greylock, Bezos Expeditions and Co-CEOs of Workday, Aneel Bhusri and Dave Duffield.[8] In February 2014, Domo announced Series C funding of an additional $125 million from TPG Growth, T. Rowe Price, Fidelity Investments, salesforce.com, Morgan Stanley Investment Management, Viking Global Investors and Dragoneer Investments Group. Existing investors GGV Capital, Greylock Partners, IVP and Mercato Partners also participated.[9]

Overview

Domo is a form of business intelligence (BI) that is an executive management platform, delivered as a service, to CEOs and executives to transform the way they run their businesses. The service is designed to provide direct access to business data without any IT involvement.[10] The platform focuses on delivering to a senior executive his or her existing data in a simplified manner.[11] The company provides business leaders with a variety of information about their enterprises, such as monitoring sales and inventories in real time.[6][12][13] It is a software-as-a-service (SaaS) venture.[1][10] The companies board of directors includes Matt Cohler and John Thompson.[10] According to the CEO Josh James:

The BI market is ripe for disruption. Tens of billions of dollars have been spent on collecting data, yet no one has found a way to deliver value. SaaS is an ideal approach. For decades, the priority of enterprise software vendors has been to lock in customers through steep upfront investments and then sit back and collect maintenance fees. The SaaS model forces technology vendors to have a maniacal focus on customer satisfaction because it's relatively easy for customers to abandon you if they aren't happy. At Domo, we will work to keep our customers satisfied. And we will keep working until they say one thing, 'Thank you,' which translates to 'Domo' in Japanese.[14]

Awards and Recognitions

In 2011, Forbes named Domo #73 on their Top 100 list of America's Most Promising Companies.[15] The company was named the #1 top startup to watch on the UV50 Top 10 for 2012.[16] AlwaysOn named Domo a Top 100 On Demand company in 2013.[17] In 2014, Domo founder Josh James won the Entrepreneur Award from Business Intelligence Group.[18]

Customers of Domo

eBay, Air Canada, Goodwill, Ogio, National Geographic, Xerox,Toys R Us, Nissan, H & R Block, Sage, among many others.[19]

See also

References

  1. ↑ 1.0 1.1 1.2 1.3 Thu, Sep 6, 2012, 4:07 PM EDT - U.S. Markets closed (2012-04-18). "Domo’s New Approach to Business Intelligence Makes Big Splash at Gartner BI Summit - Yahoo! Finance". Finance.yahoo.com. Retrieved 2012-09-06.
  2. ↑ "On Utah's 'Silicon Slopes,' Tech Jobs Get A Lift". NPR. 2012-03-12. Retrieved 2012-09-06.
  3. ↑ Saturday, June 23rd, 2012 (2012-06-23). "Domo’s Josh James: We’re Making Every Employee Embrace Social Media, And It’s Paying Off". TechCrunch. Retrieved 2012-09-06.
  4. ↑ Joey Ferguson. "Omniture founder Josh James launches Domo business intelligence with $43 million". Deseret News. Retrieved 2012-09-06.
  5. ↑ "Omniture founder obtains $33 mln for start-up". Reuters. Retrieved 2012-09-06.
  6. ↑ 6.0 6.1 6.2 "Business intelligence startup Domo pulls in another $20M". VentureBeat. Retrieved 2012-09-06.
  7. ↑ Wednesday, July 13th, 2011 (2011-07-13). "Series A Whopper: Benchmark Invests $33M in New BI Company Domo". TechCrunch. Retrieved 2012-09-06.
  8. ↑ http://techcrunch.com/2013/03/11/exclusive-omniture-co-founders-business-intelligence-saas-company-domo-raises-60m-from-ggv-capital-jeff-bezos-greylock-and-others/
  9. ↑ "Josh James's Domo raises $125 million from TPG, others". Reuters. 2014-02-05. Retrieved 2014-02-06.
  10. ↑ 10.0 10.1 10.2 "Omniture Co-Founder Launches New Business Intelligence Venture". Enterprise Apps Today. 2011-07-14. Retrieved 2012-09-06.
  11. ↑ "What We Do :: Overview". DOMO. Retrieved 2012-09-06.
  12. ↑ http://www.sltrib.com. "Utah’s Josh James among 192 Young Global Leaders - The Salt Lake Tribune". Sltrib.com. Retrieved 2012-09-06.
  13. ↑ Hardy, Quentin (2011-10-24). "The Big Business of 'Big Data' - NYTimes.com". Bits.blogs.nytimes.com. Retrieved 2012-09-06.
  14. ↑ Doug Lautzenheiser (2012-05-03). "Domo to Disrupt the BI Software Industry". SmartData Collective. Retrieved 2012-09-06.
  15. ↑ http://www.sltrib.com (2011-12-05). "Utah Local News - Salt Lake City News, Sports, Archive - The Salt Lake Tribune". Sltrib.com. Retrieved 2012-09-06.
  16. ↑ http://utahvalleybusinessq.com/uv50/2012-uv50-top-10-startups-to-watch/
  17. ↑ http://aonetwork.com/announcing-the-2013-ondemand-100-top-private-companies/ (2013-05-13). "Announcing the 2013 OnDemand 100 Top Private Companies". aonetwork.com.
  18. ↑ http://domo.com (2014-10-13). "Domo Founder Josh James Wins Entrepreneur Award from Business Intelligence Group". domo.com. Retrieved 2015-04-28.
  19. ↑ http://www.domo.com/company/customers

External links