Company:ThoughtSpot

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Short description: American developer of business intelligence software
ThoughtSpot, Inc.
FormerlyScaligent Inc.[1]
TypePrivate
IndustryAnalytics, Business intelligence
Founded2012; 12 years ago (2012) in Palo Alto, California , United States
FoundersAjeet Singh
Amit Prakash[2]
Headquarters
San Jose, CA
Number of locations
9[3]
Key people
  • Sudheesh Nair CEO
  • Amit Prakash CTO
  • Ajeet Singh co-founder and chairman
RevenueIncrease $100.2 Million(2019)[4]
Number of employees
600[5]
Websitethoughtspot.com

ThoughtSpot, Inc. is a technology company that produces business intelligence analytics search software. The company is based in Sunnyvale, California , and was founded in 2012.[6][7]

History

ThoughtSpot was founded in 2012 by a team of engineers who previously worked for Google, Oracle, and other Silicon Valley companies. The CEO and co-founder, Ajeet Singh, previously co-founded the company Nutanix.[8] In late 2012, ThoughtSpot raised $10.7 million in Series A funding led by Lightspeed Venture Partners.[9] In 2014, the company raised $30 million in Series B funding led by Khosla Ventures.[2]

In January 2016, the company opened an office in London.[6] In February 2016, ThoughtSpot announced that it had increased its revenue by 810 percent over the previous year.[1] In May 2016, ThoughtSpot raised $50 million in Series C funding led by General Catalyst Partners.[10][11] In October 2016, the company expanded its series C funding with an investment from Hewlett Packard Pathfinder. As part of the investment, ThoughtSpot entered the Pathfinder program and begin selling its software on Hewlett-Packard Enterprise infrastructure.[12][13]

In May 2018, the company raised $145 million in Series D funding from Sapphire Ventures, Lightspeed Ventures, Khosla Ventures, General Catalyst and others to expand its AI based analytics platform.[14] At the time, the company was valued at over $1 billion.[15] In August, ThoughtSpot appointed former Nutanix President Sudheesh Nair as its new CEO.[16]

In March 2019, ThoughtSpot relocated their headquarters from Palo Alto to Sunnyvale.[17] In August 2019, the company raised $248 million in Series E funding from Silver Lake, Sapphire Ventures, and Geodesic Capital.[18]

By 2020, the company had $100 million in annual recurring revenue.[19] In January 2020, the company hired several new executives for a potential initial public offering later that year.[20] In November, the company announced a $100 million series F funding round that valued it at $4.2 billion.[21]

On March 5, 2021 ThoughtSpot partnered with Indian information technology company Tech Mahindra.[22] Also in March, the company announced it had raised another $20 million in venture capital investments from partner Snowflake Inc.'s venture capital arm Snowflake Ventures.[23] Also in March, ThoughtSpot made its first acquisition by acquiring SQL-based analytics software startup SeekWell for $20 million.[24] In May, ThoughtSpot acquired data integration company Diyotta.[25]

ThoughtSpot's clients include the companies Walmart and Apple.[26][27]

Technology

ThoughtSpot allows for non-technical individuals to conduct a self-service data analysis search.[28] The company introduced ThoughtSpot Monitor, a tool that monitors information for changing patterns or trends, in 2019 as part of its ThoughtSpot 6 software.[29] ThoughtSpot's software comes with connectors called SpotApps that are each designed to integrate with different cloud services.[30]

ThoughtSpot's software can analyze data from sources like Snowflake and Databricks, and integrates with the Google Cloud Platform and Amazon Web Services.[21][31] It also offers an analytics software product designed for Google's data warehouse service, BigQuery.[32]

As of February 2021, ThoughtSpot was working on integrations with Microsoft Azure in a joint development agreement with Microsoft.[33]

ThoughtSpot also has a product for developing interactive self-service analytics tools.[34]

Recognition

In 2016, ThoughtSpot was named a "Cool Vendor in Analytics" by Gartner.[35] In 2017, the company announced that it was included on Gartner Magic Quadrant for Business Intelligence and Analytics Platforms report.[36] Later, Gartner included ThoughtSpot in the leaders quadrant for Analytics and BI platforms for the years 2019 and 2020. ThoughtSpot was included in Red Herring's "Top 100 North American Companies" list.[37]

References

  1. ↑ 1.0 1.1 Lopez, Destiny (May 23, 2016). "ThoughtSpot Brings Total Capital Investment to Over $90 Million With Series C Funding". Equities. https://www.equities.com/news/thoughtspot-brings-total-capital-investment-to-over-90-million-with-series-c-funding. 
  2. ↑ 2.0 2.1 Miller, Ron (June 18, 2014). "ThoughtSpot Grabs $30M In Series B Funding To Modernize Business Intelligence". TechCrunch. https://techcrunch.com/2014/06/18/thoughtspot-grabs-30m-in-series-b-funding-to-modernize-business-intelligence/. 
  3. ↑ "Contact Us". February 21, 2022. https://www.thoughtspot.com/contact-us. 
  4. ↑ "ThoughtSpot's $248M Haul Bolsters its Hand in Clash with Salesforce's Tableau". September 7, 2018. https://www.forbes.com/sites/petercohan/2019/09/07/thoughtspots-248m-haul-bolsters-its-hand-in-clash-with-salesforces-tableau/. Retrieved March 31, 2022. 
  5. ↑ "ThoughtSpot". https://www.forbes.com/companies/thoughtspot/. Retrieved March 31, 2022. 
  6. ↑ 6.0 6.1 Roy, Rohit (May 20, 2016). "ThoughtSpot Announces $50M Series C Funding to Lead Search-Driven Analytics for the Enterprise". Martech Advisor. http://www.martechadvisor.com/news/bi-ci-data-science/thoughtspot-announces-50m-series-c-funding-to-lead-searchdriven-analytics-for-the-enterprise/. 
  7. ↑ Vanian, Jonathan (May 8, 2018). "Exclusive: ThoughtSpot Gets Huge Funding to Expand its Google-Like Search For Corporate Data". Fortune. http://fortune.com/2018/05/08/thoughtspot-enterprise-google-search-unicorn/. Retrieved May 8, 2018. 
  8. ↑ Gage, Deborah (February 5, 2014). "Former Googlers Create ThoughtSpot for Google-Like Enterprise Search". The Wall Street Journal. https://blogs.wsj.com/venturecapital/2014/02/05/former-googlers-create-thoughtspot-for-google-like-enterprise-search/. 
  9. ↑ Harris, Derrick (February 5, 2014). "Nutanix Co-Founder Launches ThoughtSpot, an Appliance for Analytics". Gigaom. https://gigaom.com/2014/02/05/nutanix-co-founder-launches-thoughtspot-an-appliance-for-analytics/. 
  10. ↑ Shieber, Jonatha (May 19, 2016). "Investors Serve Up $50 Million for ThoughtSpot's Search Engine for Enterprise Data". TechCrunch. https://techcrunch.com/2016/05/19/investors-serve-up-50-million-for-thoughtspots-search-engine-for-enterprise-data/. 
  11. ↑ Clancy, Heather (May 19, 2016). "Can This Startup Become the Corporate Version of Google?". Fortune. http://fortune.com/2016/05/19/thoughtspot-series-c/. 
  12. ↑ "ThoughtSpot Expands Series C Funding With Hewlett Packard Pathfinder". Finsmes. October 17, 2016. http://www.finsmes.com/2016/10/thoughtspot-expands-series-c-funding-with-hewlett-packard-pathfinder.html. 
  13. ↑ "ThoughtSpot Receives Series C Financing Round". Xconomy. October 18, 2016. http://www.xconomy.com/san-francisco/2016/10/18/thoughtspot-receives-series-c-financing-round/. 
  14. ↑ Swartz, Jon. "ThoughtSpot: A Unicorn With $145 Million in Funding" (in en-US). https://www.barrons.com/articles/thoughtspot-a-unicorn-with-145-million-in-funding-1525798124. 
  15. ↑ "Exclusive: ThoughtSpot Gets Big Funding to Expand its Google-Like Search For Corporate Data" (in en). https://fortune.com/2018/05/08/thoughtspot-enterprise-google-search-unicorn/. 
  16. ↑ "ThoughtSpot Names Sudheesh Nair as CEO". August 1, 2018. https://www.wsj.com/articles/thoughtspot-names-sudheesh-nair-as-ceo-1533161601. 
  17. ↑ Schubarth, Cromwell (March 13, 2019). "Fast-growing Palo Alto unicorn moves HQ to Sunnyvale". Biz Journals. https://www.bizjournals.com/sanjose/news/2019/03/13/thoughtspot-hq-sunnyvale-growth-hiring.html. 
  18. ↑ "ThoughtSpot hauls in $248M Series E on $1.95B valuation" (in en-US). https://social.techcrunch.com/2019/08/28/thoughtspot-hauls-in-248m-series-d-on-1-95b-valuation/. 
  19. ↑ As 5 more startups join the $100M club, are we just making a pre-IPO list?
  20. ↑ Schubarth, Cromwell (January 21, 2021). "Sunnyvale analytics unicorn checks another pre-IPO box by hiring Square, PayPal vet as CFO". https://www.bizjournals.com/sanjose/news/2020/01/21/thoughspot-cfo-mohit-daswani-square-paypal-ipo.html. 
  21. ↑ 21.0 21.1 Cai, Kenrick (November 15, 2021). "ThoughtSpot Raises At $4.2 Billion Valuation As It Wraps Up Transition To The Cloud". https://www.forbes.com/sites/kenrickcai/2021/11/15/thoughtspot-raises-series-f-at-4-billion-valuation-after-cloud-migration/. 
  22. ↑ "Tech Mahindra partners with ThoughtSpot for AI driven analytics". The Economic Times. https://economictimes.indiatimes.com/tech/information-tech/tech-mahindra-partners-with-thoughtspot-for-ai-driven-analytics/articleshow/81344995.cms. 
  23. ↑ Whiting, Rick (March 9, 2021). "Data Cloud Giant Snowflake Tightens Alliance With Analytics Developer ThoughtSpot With $20M Investment". https://www.crn.com/news/applications-os/data-cloud-giant-snowflake-tightens-alliance-with-analytics-developer-thoughtspot-with-20m-investment. 
  24. ↑ "ThoughtSpot makes first acquisition, buys SeekWell". March 31, 2021. https://www.techtarget.com/searchbusinessanalytics/news/252498688/ThoughtSpot-makes-first-acquisition-buys-SeekWell. 
  25. ↑ "Acquisition by ThoughtSpot adds data integration capabilities". May 5, 2021. https://www.techtarget.com/searchbusinessanalytics/news/252500294/Acquisition-by-ThoughtSpot-adds-data-integration-capabilities. 
  26. ↑ Hebbar, Prajakta (August 29, 2019). "ThoughtSpot Raises $248 Million, Plans To Utilise It To Develop AI-Driven Analytics" (in en-US). https://analyticsindiamag.com/thoughtspot-raises-248-million-plans-to-utilise-it-to-develop-ai-driven-analytics/. 
  27. ↑ AI Tool From Fannie Mae Sheds Light on Housing Market
  28. ↑ Novet, Jordan (June 18, 2014). "ThoughtSpot's Google-Style Search For Business Intelligence Finds $30M". VentureBeat. https://venturebeat.com/2014/06/18/thoughtspot-funding/. Retrieved August 15, 2016. 
  29. ↑ ThoughtSpot 6 advances AI power of BI platform
  30. ↑ "Latest ThoughtSpot BI capabilities target new personas". November 16, 2021. https://www.techtarget.com/searchbusinessanalytics/news/252509606/Latest-ThoughtSpot-BI-capabilities-target-new-personas. 
  31. ↑ "ThoughtSpot aims to enhance cloud-based analytics searches". June 22, 2020. https://www.techtarget.com/searchbusinessanalytics/news/252485011/ThoughtSpot-aims-to-enhance-cloud-based-analytics-searches. 
  32. ↑ Chan, Rosalie (March 24, 2020). "Buzzy $1.95 billion startup ThoughtSpot was seeing so many customers move to Google Cloud that it's launching one of its key analytics products on it". https://www.businessinsider.com/thoughtspot-embrace-google-cloud-bigquery-2020-3. 
  33. ↑ "ThoughtSpot, Azure alliance boosts BI capabilities of both". February 11, 2021. https://www.techtarget.com/searchbusinessanalytics/news/252496242/ThoughtSpot-Azure-alliance-boosts-BI-capabilities-of-both. 
  34. ↑ Fregoni, Silvia; Gillin, Paul; Wheatley, Mike (September 23, 2021). "Building interactive data apps: Inside ThoughtSpot Everywhere's open developer-centric platform". https://siliconangle.com/2021/09/23/building-interactive-data-apps-inside-thoughtspot-everywheres-open-developer-centric-platform/. 
  35. ↑ King, Timothy (June 7, 2016). "Gartner Names 5 Cool Vendors in Analytics, 2016". Business Intelligence Solutions Review. http://solutionsreview.com/business-intelligence/gartner-names-5-cool-vendors-in-analytics-2016/. 
  36. ↑ "Silicon Valley startups aim to make big data capture and prep slicker". http://www.computerweekly.com/feature/Silicon-Valley-startups-aim-to-make-big-data-capture-and-prep-slicker. 
  37. ↑ "2017 Red Herring North America: Top 100 Winners". Red Herring. http://www.redherring.com/2017-rhna-winners/. 




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