Domo, the US-based business data platform provider backed by cloud computing company Salesforce.com, raised $200m in series D funding yesterday at a $2bn valuation.
Investment firm BlackRock led the round, which also included investment managers Capital Group and Glynn Capital, and venture capital firm GGV Capital.
Domo was founded in 2010 but only publicly revealed its technology in conjunction with the series D round. The company has built a cloud-based management platform for businesses capable of integrating and displaying large volumes of information from hundreds of sources in real-time.
The company has so far signed up more than 1,000 customers paying a minimum of $25,000 each and plans to close more than $100m of business in 2015.
Josh James, chief executive of Domo, said: “Our goal has always been to grow very big, very fast, while ensuring that our growth is sustainable. Since our last round, we have more than doubled our enterprise sales team and have continued to invest heavily in product.
“Now that the covers are off our product and a [non-disclosure agreement] is no longer required in the sales process, the pace at which we operate will exponentially accelerate.
The round took Domo’s overall funding to more than $450m, $125m of which came from a February 2014 series C round that valued it at about $825m.
The series C round was led by TPG Growth and featured Salesforce, GGV, Dragoneer Investment Group, Fidelity Investments, Morgan Stanley Investment Management, T. Rowe Price, Viking Global Investors, Greylock Partners, Institutional Venture Partners and Mercato Partners.