Domo Valued at $825 Million After Investment From TPG, Fidelity
By Ari Levy Feb 5, 2014 12:00 PM ET
Domo Inc., the business-software company started by Omniture Inc. founder Josh James, raised $125 million from backers including TPG Growth and Fidelity Investments, gaining public-market investors as it boosts sales.
The deal, which James said values the American Fork, Utah-based company at $825 million, also included capital from T. Rowe Price Group Inc. (TROW), Salesforce.com Inc. and Morgan Stanley, the company said today in a statement.
Institutional investors are clamoring for a piece of emerging cloud software companies that are taking market share from traditional vendors like Oracle Corp. (ORCL), Hewlett-Packard Co. and SAP AG, where growth is muted. Domo provides business intelligence tools for computers, smartphones and tablets that help companies see and share data like segment sales, inventory, costs by geography and performance of salespeople.