Turning a company’s business records into a straightforward dashboard that executives can understand at a glance is a major undertaking, one that several companies are offering to handle.

One of the most well-funded contenders is Domo Inc., which plans to further bolster its war chest by raising as much as $200 million through a newly revealed late-stage financing round. The startup today announced that it has closed an initial $100 million investment from a group of backers led by BlackRock Inc., the world’s largest asset management firm. It was joined by several unnamed family offices from Europe and Asia.

The round will help fuel Domo’s quest to carve out a niche in the data visualization segment. Its entry into the race is a cloud-based platform that promises to streamline the entire dashboard creation process from start to finish. Most of its features are geared toward business users without deep expertise in data processing, but the service also provides programmatic tools for cases when coding is necessary.

One of Domo’s most distinguishing features is a catalog of readymade apps and dashboards designed to address business use cases. Each item is specifically tailored for the needs of the intended audience. The mobile client that Domo offers to help track social media activity, for instance, lets marketers check how their brand’s profiles stack up against the competition using a native comparison tool.

This pitch has helped the startup attract clients such as eBay Inc. and The National Geographic Society along with nearly $700 million in financing. It’s valued at $2.3 billion, a figure that may increase once the second leg of the Series D funding round is completed. Domo Chief Executive Josh James, who sold his previous ventures to Adobe Systems Inc. for $1.8 billion, told Bloomberg that “we want to continue growing privately for as long as we possibly can.”

Image: Domo