ThoughtSpot

Last updated
ThoughtSpot, Inc.
Formerly
Scaligent Inc. [1]
Private
Industry Analytics, Business intelligence
Founded2012;8 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
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 with additional offices in London, [5] Bangalore, India, Seattle and Tokyo. [6]

Contents

ThoughtSpot was founded in 2012, and as of May 2019, had raised over $550 million in funding [7] and putting the company into unicorn territory with a valuation close to $2 billion. [8] ThoughtSpot's clients include the companies Walmart, Apple, BT, Bed Bath & Beyond, Hightail and Fannie Mae. [9] [10]

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. [11] In late 2012, ThoughtSpot raised $10.7 million in Series A funding led by Lightspeed Venture Partners. [12] 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 in an effort to expand to the European market. [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. [13] [14] 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. [15] [16]

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. The company is now valued over $1 billion. [17]

In March 2019, ThoughtSpot relocated their headquarters from Palo Alto to Sunnyvale. [18] By 2020, the company had $100 million in annual recurring revenue. [19]

Technology

ThoughtSpot allows for non-technical individuals to conduct a self-service data analysis search. [20] The company introduced ThoughtSpot Monitor, a tool that monitors information for changing patterns or trends, in 2019 as part of its ThoughtSpot 6 software. [21]

Recognition

In 2016, ThoughtSpot was named a "Cool Vendor in Analytics" by Gartner. [22] In 2017, the company announced that it was included on Gartner Magic Quadrant for Business Intelligence and Analytics Platforms report. [23] 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. [24] The company was recognized on Glassdoor's "Best Places to Work" list for 2020. [25]

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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. ↑ Kunthara, Sophia (August 28, 2019). "ThoughtSpot Raises $248M Series E, Reaches Unicorn Status". Crunchbase News. Crunchbase News. Retrieved November 14, 2019.
  7. ↑ "crunchbase stats".
  8. ↑ Vanian, Jonathan (2018-05-08). "Exclusive: ThoughtSpot Gets Huge Funding to Expand its Google-Like Search For Corporate Data". Fortune . Retrieved 2018-05-08.
  9. ↑ Hebbar, Prajakta. "ThoughtSpot Raises $248 Million, Plans To Utilise It To Develop AI-Driven Analytics" . Retrieved 2019-10-23.
  10. ↑ AI Tool From Fannie Mae Sheds Light on Housing Market
  11. ↑ Gage, Deborah (February 5, 2014). "Former Googlers Create ThoughtSpot for Google-Like Enterprise Search". The Wall Street Journal. Retrieved July 29, 2016.
  12. ↑ Harris, Derrick (February 5, 2014). "Nutanix Co-Founder Launches ThoughtSpot, an Appliance for Analytics". Gigaom. Retrieved July 29, 2016.
  13. ↑ Shieber, Jonatha (May 19, 2016). "Investors Serve Up $50 Million for ThoughtSpot's Search Engine for Enterprise Data". TechCrunch. Retrieved July 29, 2016.
  14. ↑ Clancy, Heather (May 19, 2016). "Can This Startup Become the Corporate Version of Google?". Fortune. Retrieved July 29, 2016.
  15. ↑ "ThoughtSpot Expands Series C Funding With Hewlett Packard Pathfinder". Finsmes. October 17, 2016. Retrieved November 22, 2016.
  16. ↑ "ThoughtSpot Receives Series C Financing Round". Xconomy. October 18, 2016. Retrieved November 22, 2016.
  17. ↑ Swartz, Jon. "ThoughtSpot: A Unicorn With $145 Million in Funding" . Retrieved 2018-05-09.
  18. ↑ Schubarth, Cromwell (March 13, 2019). "Fast-growing Palo Alto unicorn moves HQ to Sunnyvale". Biz Journals. Biz Journals. Retrieved November 14, 2019.
  19. ↑ As 5 more startups join the $100M club, are we just making a pre-IPO list?
  20. ↑ Novet, Jordan (June 18, 2014). "ThoughtSpot's Google-Style Search For Business Intelligence Finds $30M". VentureBeat. Retrieved August 15, 2016.
  21. ↑ ThoughtSpot 6 advances AI power of BI platform
  22. ↑ King, Timothy (June 7, 2016). "Gartner Names 5 Cool Vendors in Analytics, 2016". Business Intelligence Solutions Review.
  23. ↑ "Silicon Valley startups aim to make big data capture and prep slicker". ComputerWeekly.com.
  24. ↑ "2017 Red Herring North America: Top 100 Winners". Red Herring.
  25. ↑ These Are the Best Companies to Work for in 2020
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