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Domo's mission is to transform the way executives handle their business and propel value from the billions of dollars that's been spent on traditional business intelligence systems. It aims to make data more accessible to business leaders so that they can make better and more profitable decisions.
James Josh, the co-founder of Omniture, founded Domo. Omniture was a web analytics software company which James founded along with John Pestana in 1996. He took the company public in 2006 and three years after that, Adobe Systems acquired Omniture.
Later, in October 2010, James founded Shacho Inc. Shacho went on to buy Corda Technologies right after two months of its formation with an aim to "transform the way business takes place today" as James said in an interview. Domo aimed to help company executives visually understand operational and sales figures in real time.
Before it was acquired, Corda had about $10 million in annual revenue. James doubled its workforce and stripped its name before unveiling the new acquisition. Moreover, he changed the company name to Domo; a Japanese word which literally translates into 'Thank you'. The new company, Domo, raised $33 million from Menlo Park, Calif.-based Benchmark Capital and another $12 million came from other investors including Marc Benioff (salesforce.com), SV Angel, Fraser Bullock (Sorenson Capital) and Andreessen Horowitz. Later, $20 million funding also came from Venture Products based in Silicon Valley.
The company has raised a total of $450 million.
With Domo, it became easy to see all the necessary information in one place and use it to make faster, better-informed decisions. Domo's potential was noted by many tech experts and industry critics. Forbes ranked Domo 73 in its list of most promising American companies. In 2014, Business Intelligence Group awarded Domo's founder, Josh James, the Entrepreneur Award. Moreover, the World Economic Forum named Domo a technology pioneer in 2015.
Today, with more than 1,000 customers, Domo is transforming the world of data visualization and business intelligence.
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