Domo Raises $131M in Series D Funding; Launches $50M VC Fund

domoDomo, an American Fork, UT-based business cloud provider, raised another $131m in Series D funding.

The round, which valued the company at $2 billion, saw the participation from existing investors (Capital Group, GGV Capital, and Glynn Capital Management) plus Credit Suisse and other new investors.

The company, which has now raised more than $330M in Series D round and more than $590M in total funding, intends to use the funds to continue to expand operations.

Led by Josh James, founder and CEO, Domo provides a business cloud that brings together all the data, people and insights users need to run their entire business and make better-informed decisions to improve performance. The company operates the Domo Appstore, which allows decision makers in any role or any industry to get answers to their specific business questions through pre-packaged solutions built by a developer ecosystem.

In addition to the funding, Domo has also announced a new investment program that will seek to commit up to $50m in capital to companies developing on the Business Cloud via the Domo platform and Appstore. Teaming with Domo on this fund are venture capital firms GGV Capital, IVP and Zetta Venture Partners.



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