Domo has announced that it has closed on yet another round of venture funding, this time for $100 million. The Series D2 extension financing comes at a post-money valuation of $2.3 billion dollars. The round was led by existing investor BlackRock, with significant involvement from international family offices in Europe and Asia. Founded in 2010 and based on American Fork, UT, the SaaS provider has now raised nearly $700 million in total.
The latest influx supports the company’s goals for international expansion and continued focus on driving subscriptions to Business Cloud, the company’s business optimization platform. Business Cloud is centered around Domo’s own mobile application and includes an expansive app store of business tools that allows users to pick and choose from any of the more than 1,000 currently included apps.
In a statement, Domo’s CEO Josh James spoke to the news: “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.”
Earlier this year, technology research giant Gartner included Domo in their newest Magic Quadrant report for Business Intelligence and Data Analytics Platforms, associating them with some of the biggest vendors in enterprise software.
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