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Domo Raises Funding From BlackRock With IPO Plans on Hold

  • Utah-based startup had previously focused on a 2015 IPO
  • Total funding nears $700 million, $2.3 billion value
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Business software maker Domo Inc. is looking to raise as much as $200 million as it holds off on an initial public offering. The company has secured at least half of its goal for the fundraising round, according to a securities filing.

BlackRock Inc. led the investment, valuing the business at $2.3 billion, said Josh James, Domo’s chief executive officer. Bloomberg reported a year ago that Domo was working with Morgan Stanley and Credit Suisse Group AG on a potential IPO. James has repeatedly expressed his desire to take the company public.