Domo, a US-based business analytics provider backed by cloud computing company Salesforce.com, raised $131m yesterday from investors including financial services firm Credit Suisse, boosting its series D round to $330m.
Credit Suisse was joined by undisclosed new investors as well as the participants in the first tranche, which closed at $200m in April 2015. The disclosed investors from that tranche are BlackRock, Capital Group, Glynn Capital and GGV Capital. Domo raised all the series D funding at a $2bn valuation.
Billing itself as “the world’s first Business Cloud”, Domo has built a platform that combines all the data required to run a business into a single place where it can be visualised and used to make decisions.
The platform is open source and includes developer tools and programmatic APIs so anyone can build apps on top of it which can then be sold through the company’s app store.
The capital injection was announced on the same day as a $50m fund that will support companies developing software or apps that connect to Business Cloud.
Venture capital firms GGV Capital, IVP and Zetta Venture Partners, all existing investors in Domo, are supporting the fund, which has been launched in connection with an app publishing partner scheme that includes a specialised software development kit and app builder.
Lastly, the company released a mobile version of its platform called Domo Mobile, making it available through iOS and Android as well as the mobile web.
Domo has now raised $590m since it was founded as Shacho in 2010, including $125m in series C funding secured from backers including Salesforce in 2014 at an $825m valuation.
TPG Growth, GGV, IVP, Dragoneer Investment Group, Fidelity Investments, Morgan Stanley Investment Management, T. Rowe Price, Viking Global Investors, Greylock Partners and Mercato Partners also took part in the series C round.
Marketing firm WPP is also a shareholder, having taken part in a $10m angel round in 2010 alongside Andreessen Horowitz, Hummer Winblad Venture Partners and a range of angel investors including Salesforce CEO Marc Benioff.
Additional past investors include Benchmark Capital, Bezos Expeditions, Founders Fund and Cougar Capital.