Total amount raised
$55.3 Millions
Latest funding date
3/1/2024
Location
Omni has successfully raised $69 million in Series B funding, positioning itself as a notable player in the business intelligence sector. The platform offers a comprehensive suite of tools for data exploration, including spreadsheets, SQL, and AI.
Keep reading to delve into the details of Omni's funding journey and the investors who are backing this innovative platform.
What Is Omni?
Omni, founded on August 1, 2014, in San Francisco, California, is a marketplace that partners with local businesses to offer rentals of various items. The platform aims to make items like bikes, surfboards, and camping equipment accessible to everyone.
The company was founded by Aaron Wiener, Adam Dexter, and Thomas McLeod. With a team of 101-250 employees, Omni has grown to become a notable player in the rentals industry.
Omni's mission is to bring rentals to communities, providing a convenient way for customers to reserve and pick up items from local businesses.
How Much Funding Has Omni Raised?
- Seed Round
- Amount Raised: $3M
- Date: September 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and establish initial operations.
- Convertible Note
- Amount Raised: $250K
- Date: March 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital for early-stage growth.
- Series A
- Amount Raised: $7M
- Date: May 2016
- Lead Investors: Highland Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform's capabilities.
- Series B
- Amount Raised: $25M
- Date: January 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and enter new markets.
- Venture Round
- Amount Raised: $20M
- Date: March 2024
- Lead Investors: Theory Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and introduce new features like embedded analytics and Calculations AI.
Total Amount Raised: $55.25M. Current Valuation: Not publicly disclosed.
Key Investors
- Theory Ventures
- Details: Founded by Tomasz Tunguz, Theory Ventures is a venture capital firm that focuses on investing in innovative technology companies. Tunguz has a strong background in the tech industry, having previously worked at Redpoint Ventures.
- Investment Focus Areas: Technology, Data, Business Intelligence
- Notable Investments: Not publicly disclosed
- Highland Capital Partners
- Details: Highland Capital Partners is a global venture capital firm with a focus on early and growth-stage investments. The firm has a long history of supporting innovative companies across various sectors.
- Investment Focus Areas: Technology, Healthcare, Consumer Products
- Notable Investments: 23andMe, Rent the Runway, Malwarebytes
What's Next for Omni?
Omni's future looks promising with the recent $20 million funding from Theory Ventures. This financial boost will enable the company to expand its platform with new features like embedded analytics and Calculations AI, offering increased data access and self-service capabilities for businesses. The involvement of high-profile clients such as The Rounds and Ascend underscores the substantial market demand for Omni's solutions.
As Omni continues to grow, future fundraising opportunities seem likely. The rapid development and recent financial backing suggest that additional investment rounds could be on the horizon. However, the company will need to navigate challenges such as competition from established BI tools and balancing governance with flexibility in their offerings.
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