Josh James's Domo raises $125 million from TPG, others

SAN FRANCISCO Wed Feb 5, 2014 12:00pm EST

SAN FRANCISCO Feb 5 (Reuters) - Enterprise-software startup Domo has raised another $125 million in funding, it announced Wednesday, doubling the capital that investors have put into the company.

TPG Growth, an arm of investment company TPG, led the round, joined by Salesforce.com, T. Rowe Price, Fidelity Investments, Morgan Stanley, Viking Ventures and Dragoneer Investment Group. Existing investors GGV Capital, Greylock Partners, IVP and Mercato Partners also participated.

TPG has been ratcheting up its investments in venture-backed startups. Last year, it backed SurveyMonkey and Uber, two hot Silicon Valley-based companies. TPG will take a Domo board seat.

Domo was founded in 2011 by Josh James, who also founded online marketing-and-analytics business Omniture, which he sold to Adobe Systems for $1.8 billion in 2009. James's new company offers business analytics that can handle large amounts of data across different types of platforms. The 40-year-old James is selling it as a service, allowing companies to skip hefty up-front licensing fees in favor of pay-as-you go plans.

With the latest funding, Utah-based Domo has raised just over $250 million.

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