Omniture Co-Founder Launches BI Firm

Josh James, the co-founder of web analytics giant Omniture, has secured a $43m investment to launch a new business intelligence (BI) company called Domo, with a boast to 'transform the way executives manage their business'.

The firm collects data - such as marketing material, customer relationship management (CRM) information, e-mails, presentations and stock market analyses - to deliver real-time intelligence to CEOs, to help them make informed business decisions.

Domo's executive management platform can be used as an SaaS solution over the web, as a managed service behind a firm's firewall, or though one of Domo's delivery partners.

Back in May, James raised $10m in angel funding from a number of high-profile investors including marcoms giant WPP. He has now raised a further $33m from investors in a Series A round, led by Benchmark Capital, whose General Partner Matt Cohler is a founding member of LinkedIn. The capital will be used to help Domo advance its SaaS-based solution.

Commenting on the funding, James states: 'To build a great company, you need three things - a big market, great people and funding.'

After he sold Omniture to graphic design software giant Adobe for around $1.8 billion in 2009, James founded Shacho with the aim of 'fixing' the problems he saw with gaining access to real-time information about his own business. He then acquired data dashboard specialist Corda Technologies, and the two firms have now been combined as Domo (which translates as 'thank you' in Japanese).

James adds: 'The BI market is ripe for disruption. Tens of billions of dollars have been spent on collecting data, yet no one has found a way to deliver value. The SaaS model forces technology vendors to have a maniacal focus on customer satisfaction because it's relatively easy for customers to abandon you if they aren't happy. At Domo, we will work to keep our customers satisfied.'

Web site: www.domo.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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