Domo launches Business Cloud for enterprises, raises $131M

Data Analytics startup, Domo that specializes in data management and visualization for enterprises has launched a new core product called the Business Cloud. Unveiling broad new capabilities for its business analytics cloud computing platform, the Utah-based business intelligence platform has upped its game in the market at the same time where it has raised $131 million as an extension of its Series D round of April 2015 of $200 million led by BlackRock, Credit Suisse and others. Although the company insists on the same valuation of $2 billion. Horned as a ‘Unicorn’(with a valuation of more than $1 billion) of the Silicon valley, it has also launched a new app store that facilities and offers application services like partner platform, new social collaboration tools, and expanded mobile support at its annual user conference named Domopalooza. The service is being offered for under a freemium model where users access the cloud for free but pay extra for additional data or access to more advanced enterprise functionality. Bigger businesses that want administrative support and insights will be able to try those tools for 60 days before paying. The platform offers an ecosystem of business management apps allowing it to be personalized by any employee in any company. It aims to democratize data analytics reaching all employees from C-level executives to field workers, says Matt Belkin, Domo’s chief analytics officer. Apps available on the Business Cloud are said to be a mix of free and premium pre-packaged solutions that enable enterprises to find answers to business questions specific to their role or industry. A brainchild of the former Omniture CEO, Josh James, Domo is all about business analytics SaaS tool and advanced visualization dashboard. The system ingests data from a variety of sources, including ERP, CRM, digital marketing, analytics and finance programs that businesses already use. According to Belkin, with around 1,000 data connections with various software platforms and 400 data connectors, Domo creates customizable and personalized visualizations for users. James said, “With the Business Cloud customers quickly get the big picture of what’s going on in their business by leveraging the preferred cloud and on-premise software they use every day in finance, sales, marketing and operations.”

“The multi-cloud infrastructure we’ve developed over the past five years is now an open ecosystem, giving our partners even broader visibility and adoption opportunities through our platform and Appstore. What’s more, today anyone can sign up on the cloud and start experiencing for free how the Business Cloud changes the way business is managed.”

The package for enterprises in the Domo Appstore:

There are hundreds of applications where users can link into their Domo account. To start with, the Social Index app analyses the presence on various social media platforms and gauge the incoming traffic while industry experts and marketers can switch to Mobile App Performance tool that provides information on the success of a mobile application in terms of engagement and implementation.

How much can I sell?

There’s a new sales forecasting app that includes travel expense management analysis features. Security breach concerns are also addressed with an app that allows a Chief Information Officer to keep track of popular phishing attacks and monitor for them in their environment.

Are we mobile?

The unveiling has also launched Domo Mobile that will deliver the Business Cloud experience to any and all devices used to run a business. It includes live data exploration, real-time collaboration, trending organizational views, projects, tasks and an active company directory and is available on the Mobile Web or via Android and iOS apps. One can easily assess the popular gimmicks in and round the organizations, what conversations are trending and keep track of the business metrics that are most important to them for managing their business.

Do we have any plugins?

The Domo App Publisher Partner Program includes tools, best practices, and support for developers building apps for the Business Cloud, with Domo making available APIs and SDK to allow anyone to build custom apps for their own business, for customers, or to have published in the Domo Appstore.

What’s the Buzz all about?

Domo also released Buzz, a collaboration platform includes which is part Slack, part Facebook, and part Atlassian and allows data analytics and visualizations to be incorporated into the messaging platform. It should speed business insights and drive better decision making and includes features such as real-time chat, threaded conversations, social profiles, organisation charts, company directory and task management.

A fund for third-parties

To support its plan to build out an ecosystem where interested participants can develop apps for the Business Cloud, it also launched a $50 million investment fund to back third-party companies building apps on Domo led by groups like GGV Capital, Institutional Venture Partners and Zetta Venture Partners.

How much do I pay?

Domo’s paid version starts at $95 per user per month, and ranges to $250 per user per month for the enterprise package, which requires a $50,000 platform fee too. There could be additional data storage costs on some plans.