ThoughtSpot

Last updated
ThoughtSpot, Inc.
FormerlyScaligent Inc. [1]
Type Private
Industry Analytics, Business intelligence
Founded2012;9 years ago (2012) in Palo Alto, California, United States
FoundersAjeet Singh
Amit Prakash [2]
Headquarters
Sunnyvale
Key people
  • Sudheesh Nair CEO
  • Amit Prakash CTO
  • Ajeet Singh co-founder and chairman
  • Mohit Daswani CFO
RevenueIncrease2.svg $100.2 Million(2019) [3]
Number of employees
580 [4]
Website thoughtspot.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. [5] [6]

Contents

History

ThoughtSpot was founded in 2012 by a team of engineers who previously worked for Google, Oracle, Microsoft, Yahoo, and other Silicon Valley companies. The CEO and co-founder, Ajeet Singh, previously co-founded the company Nutanix. [7] In late 2012, ThoughtSpot raised $10.7 million in Series A funding led by Lightspeed Venture Partners. [8] 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. [5] 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. [9] [10] In October 2016, the company expanded its series C funding with an investment from Hewlett Packard Pathfinder. As part of the investment, ThoughtSpot will enter the Pathfinder program and begin selling its software on Hewlett-Packard Enterprise infrastructure. [11] [12]

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. [13] At the time, the company was valued at over $1 billion. [14]

In March 2019, ThoughtSpot relocated their headquarters from Palo Alto to Sunnyvale. [15] In August 2019, the company $28 million is Series E funding from Silver Lake, Sapphire Ventures, and Geodesic Capital. [16] By 2020, the company had $100 million in annual recurring revenue. [17]

In January 2021, the company hired several new executives for a potential initial public offering later that year. [18] On March 5, 2021 ThoughtSpot partnered with Indian information technology company Tech Mahindra. [19] ThoughtSpot's clients include the companies Walmart, Apple, BT, Bed Bath & Beyond, Hightail and Fannie Mae. [20] [21]

Technology

ThoughtSpot allows for non-technical individuals to conduct a self-service data analysis search. [22] The company introduced ThoughtSpot Monitor, a tool that monitors information for changing patterns or trends, in 2019 as part of its ThoughtSpot 6 software. [23]

Recognition

In 2016, ThoughtSpot was named a "Cool Vendor in Analytics" by Gartner. [24] In 2017, the company announced that it was included on Gartner Magic Quadrant for Business Intelligence and Analytics Platforms report. [25] 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. [26] The company was recognized on Glassdoor's "Best Places to Work" list for 2020. [27]

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References

  1. 1 2 Lopez, Destiny (May 23, 2016). "ThoughtSpot Brings Total Capital Investment to Over $90 Million With Series C Funding". Equities. Retrieved July 29, 2016.
  2. 1 2 Miller, Ron (June 18, 2014). "ThoughtSpot Grabs $30M In Series B Funding To Modernize Business Intelligence". TechCrunch. Retrieved July 29, 2016.
  3. https://www.forbes.com/sites/petercohan/2019/09/07/thoughtspots-248m-haul-bolsters-its-hand-in-clash-with-salesforces-tableau/
  4. https://www.forbes.com/companies/thoughtspot/
  5. 1 2 Roy, Rohit (May 20, 2016). "ThoughtSpot Announces $50M Series C Funding to Lead Search-Driven Analytics for the Enterprise". Martech Advisor. Retrieved July 29, 2016.
  6. Vanian, Jonathan (2018-05-08). "Exclusive: ThoughtSpot Gets Huge Funding to Expand its Google-Like Search For Corporate Data". Fortune . Retrieved 2018-05-08.
  7. Gage, Deborah (February 5, 2014). "Former Googlers Create ThoughtSpot for Google-Like Enterprise Search". The Wall Street Journal. Retrieved July 29, 2016.
  8. Harris, Derrick (February 5, 2014). "Nutanix Co-Founder Launches ThoughtSpot, an Appliance for Analytics". Gigaom. Retrieved July 29, 2016.
  9. Shieber, Jonatha (May 19, 2016). "Investors Serve Up $50 Million for ThoughtSpot's Search Engine for Enterprise Data". TechCrunch. Retrieved July 29, 2016.
  10. Clancy, Heather (May 19, 2016). "Can This Startup Become the Corporate Version of Google?". Fortune. Retrieved July 29, 2016.
  11. "ThoughtSpot Expands Series C Funding With Hewlett Packard Pathfinder". Finsmes. October 17, 2016. Retrieved November 22, 2016.
  12. "ThoughtSpot Receives Series C Financing Round". Xconomy. October 18, 2016. Retrieved November 22, 2016.
  13. Swartz, Jon. "ThoughtSpot: A Unicorn With $145 Million in Funding" . Retrieved 2018-05-09.
  14. "Exclusive: ThoughtSpot Gets Big Funding to Expand its Google-Like Search For Corporate Data". Fortune. Retrieved 2021-03-09.
  15. Schubarth, Cromwell (March 13, 2019). "Fast-growing Palo Alto unicorn moves HQ to Sunnyvale". Biz Journals. Biz Journals. Retrieved November 14, 2019.
  16. "ThoughtSpot hauls in $248M Series E on $1.95B valuation". TechCrunch. Retrieved 2021-03-09.
  17. As 5 more startups join the $100M club, are we just making a pre-IPO list?
  18. Schubarth, Cromwell (January 21, 2021). "Sunnyvale analytics unicorn checks another pre-IPO box by hiring Square, PayPal vet as CFO". www.bizjournals.com. Retrieved 2021-03-09.
  19. "Tech Mahindra partners with ThoughtSpot for AI driven analytics". The Economic Times. Retrieved 2021-03-09.
  20. Hebbar, Prajakta. "ThoughtSpot Raises $248 Million, Plans To Utilise It To Develop AI-Driven Analytics" . Retrieved 2019-10-23.
  21. AI Tool From Fannie Mae Sheds Light on Housing Market
  22. Novet, Jordan (June 18, 2014). "ThoughtSpot's Google-Style Search For Business Intelligence Finds $30M". VentureBeat. Retrieved August 15, 2016.
  23. ThoughtSpot 6 advances AI power of BI platform
  24. King, Timothy (June 7, 2016). "Gartner Names 5 Cool Vendors in Analytics, 2016". Business Intelligence Solutions Review.
  25. "Silicon Valley startups aim to make big data capture and prep slicker". ComputerWeekly.com.
  26. "2017 Red Herring North America: Top 100 Winners". Red Herring.
  27. These Are the Best Companies to Work for in 2020