Domo, a cloud-based business management platform provider, has acquired $200 million in a Series D funding round led by Blackrock. This brings the company’s overall valuation to more than $2 billion.
The funding news came during Domopalooza, Domo’s inaugural user event, which is taking place April 7-9, 2015 in Salt Lake City, Utah. During the event, CEO Josh James also unveiled Domo’s cloud-based business management platform to the public, as well as a series of new products designed to help users connect, prepare and visualize data, such as:
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1-Click Apps: Up to 40 1-Click Apps are available to help businesses connect to load data into Domo. The company also provides a series of pre-built reporting templates based on specific industries, roles, domains and data sources.
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Magic: Featuring a visual user interface and drag-and-drop functionality, Magic provides a set of automated, self-service tools designed to allow users to prepare data for analysis.
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Card Builder: A self-service version of the data visualization capability from Domo, Card Builder allows users to select data sets that are visualized and analyzed.
“We’ve been focused on taking the complexity out of the process when it comes to accessing, understanding and leveraging data,” James said. “In working with enterprise customers over the last couple years, we’ve found that the investment of time and resources required just to connect to the data is a deterrent to many projects aimed at helping the business user. Through tools like 1-Clicks, Magic and Card Builder, we’re taking away those barriers.”
