Thursday, August 21, 2014

Domo Eyes IPO With New CFO

Domo, the Provo, Utah-based developer of business dashboard software, said today that it has named Bruce Felt as the company's new Chief Financial Officer, in what could be a preliminary move towards an IPO. The company--which raised a huge, $125M funding round earlier this year--said Felt joins the company from SuccessFactors, where he was CFO through the company's IPO and eventual sale to SAP. He also has served as CFO of LANDesk Software, Auction.com, Qualix Group, and Renaissance Software. Domo said the appointment comes as it has seen more than 40 percent sequential, quarterly growth at the company. The company has now raised an astounding $250M in funding, from such companies as Benchmark, Fidelity Investments, Founders Fund, GGV Capital, Greylock Partners, IVP, salesforce.com, TPG Growth, T. Rowe Price, WPP and Zetta Venture Partners. Felt is an IPO veteran, having headed up finances not only for SuccessFactors IPO, but at Qualix Group.