Business intelligence startup Domo pulls in another $20M

The funds come from Silicon Valley-based Institutional Venture Partners, and brings the company’s total funding to $63 million.

Domo hopes to give executives and managers a single, customizable, sharable view of the business metrics that matter to them, delivering its product as an online service, similar to the way Salesforce.com, Omniture, Microsoft’s Office 365, and other software-as-a-service (SaaS) solutions work.

According to the founder Josh James, Domo aims at addressing the static and non-collaborative nature of existing BI offerings. It will aim at collecting a slice of the estimated $10 billion annual market for business intelligence services.