Business intelligence SaaS startup Domo Secures $60m Series B Funding

Domo, a business intelligence SaaS startup created by the co-founder of Omniture, has nabbed $60 million (£40 million) in a round of Series B funding led by GGV Capital, with contributions from Greylock Partners and Bezos Expeditions, the personal investment company belonging to Jeff Bezos.

Domo's announcement about the new investment round follows recent news that the company had secured 100 paying enterprise customers within merely six months of active presence in the market.

With this, the total investment in Domo has surpassed $125 million (£84 million). The company plans to spend the majority of the funding on hiring for its engineering and sales divisions.

Domo has been relatively secretive about its product, which is not yet available to the public. So far, we know that it is a business intelligence outfit that puts massive amounts of high-value business intelligence data into the cloud in an easy-to-use and scalable format. The company is reportedly planning on extending its product beyond private beta sometime in 2014.

"We can be the size of what Omniture was when the company went public in 12 months. We're going to make the most significant enterprise tech company since Salesforce," founder Josh James told TechCrunch.