UPDATED 23:17 EDT / MARCH 22 2016

NEWS

BI startup Domo raises additional $131m, announces new Business Cloud product

Business Intelligence startup Domo, Inc. has raised $131 million as an extension of its Series D round of April 2015 from BlackRock and Credit Suisse on the same valuation of $2 billion.

The company, founded by former Omniture CEO Josh James in 2010 and long regarded as being in stealth, also announced a new core product they are calling the “Business Cloud.”

According to Domo, the Business Cloud gives users all the data, all the people and all the insights needed to run their entire business as well as being able to make faster, better decisions to improve business performance.

The platform offers an ecosystem of business management apps allowing it to be personalized by any employee in any company.

Apps available on the Business Cloud are said to be a mix of free and premium pre-packaged solutions that enable decision makers to find answers to business questions specific to their role or industry.

Interestingly the service is being offered for under a freemium model where users access the cloud for free but pay extra for additional data or access to more advanced enterprise functionality such as administrative controls.

Apps

Domo is serious about making sure that the Business Cloud thrives and as well as announcing that there are already 1,000 apps available for the platform, they also announced the launch of a new publisher program to encourage more companies to build apps for the platform.

The Domo App Publisher Partner Program includes tools, best practices, and support for developers building apps for the Business Cloud, with Domo making available APIs and SDK to allow anyone to build custom apps for their own business, for customers, or to have published in the Domo Appstore.

Those interested in developing apps for the Business Cloud will also be able to tap into a new $50 million investment fund that is being backed by Domo in conjunction with GGV Capital, IVP and Zetta Venture Partners.

Buzz

Suffice to say if you’ve gotten this far Domo has been extremely busy, and there is indeed more.

The company has also announced Buzz, a new online collaboration platform which is part Slack, part Facebook, and part Atlassian.

Buzz is said to leverage the social fabric of an organization to speed business insights and drive better decision making and includes features such as real-time chat, threaded conversations, social profiles, org charts, a company directory and task management.

Last but not least the company announced Domo Mobile, delivering the Business Cloud experience to any device.

Domo Mobile functionality is said to include live data exploration, real-time collaboration, trending org views, projects, tasks and an active company directory and is available on the Mobile Web or via Android and iOS apps.

Including the new funding Domo has raises $613.69 million over 9 rounds from 38 investors to date including Salesforce Ventures, Institutional Venture Partners, Greylock Partners, Dragoneer Investment Group, Viking Venture Management, Andreessen Horowitz, Jeff Bezos, and others.

The company said it would use the new funding to further advance the Business Cloud.

Image credit: Jonathan Gross/Flickr/CC by 2.0

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