According to a report published last year, the global BI Market is expected to grow 11% annually over the next few years to $29.5 billion by 2022 from $15.64 billion in 2016. One of the leading players in cloud-based BI solutions is Utah-based Billion Dollar Unicorn Domo.
Domo’s Financials
Domo was founded in 2010 by Omniture co-founder Josh James as a solution that could access relevant business data from multiple sources to publish visualized, interactive dashboards. Domo is able to collect data from sources ranging from Salesforce.com, Google Analytics, Box, LinkedIn, Facebook, and even Instagram to publish these visually impressive dashboards.
It operates on a subscription-based model. Its basic model is available for free for a year and allows access to 5 users to analyze up to 5 million rows of data. After a year, the users have to choose from its menu of three pricing tiers ranging from $83 per user per month to $190 per user per month. The highest tier subscription comes with features such as the ability to analyze up to 2 billion rows of data, advanced governance and security, HIPAA Compliance capability, consulting from certified partners, and premium support.
Domo does not disclose its financial performance at all. It had last reported 2015 bookings of $100 million with revenues doubling each year. Last year, it was recognized among the 500 fastest growing firms in North America on Deloitte’s Technology Fast 500 list. It was ranked 71st on the list, by displaying a nearly 2,250% growth rate in revenues over the 2013 to 2016 period.
It has been venture funded so far and has raised $690 million from investors including Andreessen Horowitz, Benchmark, Ben Horowitz, Bezos Expeditions, BlackRock, BYU Cougar Capital, Capital Group, Credit Suisse, Dan Rose, David Lee, Dragoneer Investment Group, Fidelity Investments, Founders Fund, Frank Wilder, GGV Capital, Glynn Capital Management, Greylock Partners, Hiroshi Mikitani, HWVP, Hummer Winblad Venture Partners, IVP, Jeff Bezos, Jeff Kearl, John Pestana, Lars Dalgaard, Marc Benioff, Mark Gorenberg, Mercato Partners, Meritech Capital Partners, Morgan Stanley, Paul Sagan, Pelion Venture Partners, Ronald Conway, Salesforce Ventures, SharesPost Investment Management, SV Angel, TPG Growth, Transmedia Capital, T. Rowe Price, Viking Venture Management, WPP, and Zetta Venture Partners. Its last round of funding was held in April 2017 when it raised $100 million at a ranging from Salesforce.com, Google Analytics, Box, LinkedIn, Facebook, and even Instagram to publish these visually impressive dashboards.
