SOURCE: Domo, Inc.

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January 16, 2015 09:37 ET

Domo Signs Its 1,000th Enterprise Customer; Announces Product Unveiling

Domo to Reveal Its Highly Anticipated Business Management Platform April 7-9 at Domopalooza

SILICON SLOPES, UT--(Marketwired - January 16, 2015) - Domo, provider of the world's first business management platform, today announced it has signed its 1,000th paying enterprise customer. The company also announced plans to pull the covers off its product, which to date has only been viewable under NDA. In addition, Domo will reveal several new features and functionality that have been years in development and available only to a few select customers.

This public unveiling of the Domo platform and introduction of new features and functionality will take place during Domopalooza™, Domo's first-ever user conference, which was also announced today.

"So many people have been trying to categorize us and put us in a bucket, and for competitive reasons, we've been deliberately evasive," said Josh James, founder and CEO of Domo. "We like that we've been underestimated. We like that we haven't been in a bunch of analyst reports. Of course, we'll make sure all of this changes going forward, but unless you have something dramatically disruptive, you can't raise $250 million from the likes of Benchmark, Fidelity Investments, GGV Capital, Greylock Partners, IVP, salesforce.com, TPG Growth, T. Rowe Price, and WPP. We avoided a 'me too' product like the plague; we didn't want to create the 2.0 of something that never worked in the first place. Instead, we created an innovative and groundbreaking product that could only be developed with the experience, team and capital that was brought together to dramatically alter the way management teams run their businesses."

James emphasized, "Trust us when we say that Domo is actually, in fact, a business management platform. It will impact your entire organization. What's commonly known as business intelligence is merely a small subset of what we do; it is just one of several products in the business management suite that we are bringing to market."

Domo also was ecstatic to announce its 1,000th paying enterprise customer. This represents a monumental milestone in the life of any enterprise technology company, signifying scale and strength. Today, Domo serves the world's most recognizable brands across all industries. Dozens of these customers come from the Fortune 500, with several from the Fortune 10.

"We didn't want to improve on the BI tools in the marketplace -- customers are so unhappy and unfulfilled," said James. "Doing the same thing and expecting different results would be, as they say, insanity. It's like when the wheel was invented, people were happy with the cart. We didn't want to create a better cart; we invented a car. And I think we've demonstrated that with the scale and quality of customers who are running their businesses on Domo." 

Domo believes it is the largest and fastest growing player in the space. James added, "Every industry has a giant SaaS company except BI. We'll be that giant for BI, but as I mentioned, we'll be so much more. In addition to showing the world how different we really are, we're excited to introduce new features and functionality that we've been holding back," he said. "This April, we're going full tilt."

About Domo
Domo is a cloud-based business management platform that gives CEOs, managers and information workers across the business the ability to make faster, more effective decisions by giving them easy access to all the information they need, in one place.

With $250 million in funding, Domo is backed by an all-star list of angels and investors including Benchmark, Fidelity Investments, Founders Fund, GGV Capital, Greylock Partners, IVP, salesforce.com, TPG Growth, T. Rowe Price, WPP and Zetta Venture Partners, plus CEOs of the world's largest SaaS and Internet businesses.

Domo's founding team consists of some of the most sought after talent in the industry with experience that includes Amazon, American Express, Ancestry.com, eBay, Endeca, Facebook, Google, LinkedIn, MLB.com, Omniture, salesforce.com and SAP.

For more information, visit www.domo.com. You can also follow Domo on Twitter, Facebook, LinkedIn and Google+.

Domo and Domopalooza are trademarks of Domo, Inc.

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