We are experiencing tremendous momentum, yet we know that reaching our true potential relies on incredible execution.
In a press release published earlier today, Domo, the SaaS company founded by Josh James, announced the company recently passed the 500-customer mark and plans to double its sales team in the coming months.
“We are experiencing tremendous momentum, yet we know that reaching our true potential relies on incredible execution,” said James in a statement. “And while the velocity of our sales efforts continues to shatter records for enterprise software — with deals closing in days and weeks, instead of months or quarters — the market remains virtually untapped. We are hiring aggressively and doubling our sales team to further accelerate our business and to address the needs of a market that wields incredible purchasing power but to date has been completely ignored.”
Domo recently raised $125 million in a Series C round of funding, putting the company’s total amount of venture capital raised at more than $250 million. To this point, the American Fork-based company has publicly revealed only a small number of the more than 500 customers currently using its business intelligence software.
At a valuation of $825 million after its latest round of financing, the company’s focus on sales makes sense. Domo has managed to attract a lot of investment to this point, and growing its customer base will go a long way toward solidifying and validating its place in the market.
The company hopes its new sales and customer reception center in the historic Walker Center in downtown Salt Lake City will help in those efforts.
“With an ambitious growth plan, the new downtown location will make it easier to attract the talent that is critical to our growth. We are excited about the opportunity in front of us and will judge the success of our execution, not just on growing our numbers, but also on our success in creating happy customers,” said James.
Published 3/12/2014
