ThoughtSpot

Last updated
ThoughtSpot, Inc.
FormerlyScaligent Inc. [1]
Type Private
Industry Analytics, Business intelligence
Founded2012;11 years ago (2012) in Palo Alto, California, United States
FoundersAjeet Singh
Amit Prakash [2]
Headquarters
Mountain View, California [3]
Number of locations
9 [4]
Key people
  • Sudheesh Nair CEO
  • Amit Prakash CTO
  • Ajeet Singh co-founder and chairman
RevenueIncrease2.svg $100.2 Million(2019) [5]
Number of employees
600 [6]
Website thoughtspot.com

ThoughtSpot, Inc. is a technology company that produces business intelligence analytics search software. The company is based in Mountain View, California, and was founded in 2012. [3] [7] [8]

Contents

History

ThoughtSpot was started in 2012 by Ajeet Singh (CEO) and Amit Prakash (CTO). The CEO and co-founder, Ajeet Singh, previously co-founded the company Nutanix. [9] The CTO and Co-founders, Amit Prakash, came from Google where he was responsible for one of the machine learning systems for Ads. In late 2012, ThoughtSpot raised $10.7 million in Series A funding led by Lightspeed Venture Partners. [10] 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. [7] 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. [11] [12] 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. [13] [14]

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. [15] At the time, the company was valued at over $1 billion. [16] In August, ThoughtSpot appointed former Nutanix President Sudheesh Nair as its new CEO. [17]

In March 2019, ThoughtSpot relocated their headquarters from Palo Alto to Sunnyvale. [18] In August 2019, the company raised $248 million in Series E funding from Silver Lake, Sapphire Ventures, and Geodesic Capital. [19]

By 2020, the company had $100 million in annual recurring revenue. [20] In January 2020, the company hired several new executives for a potential initial public offering later that year. [21] In November, the company announced a $100 million series F funding round that valued it at $4.2 billion. [22]

On March 5, 2021 ThoughtSpot partnered with Indian information technology company Tech Mahindra. [23] 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. [24] Also in March, ThoughtSpot made its first acquisition by acquiring SQL-based analytics software startup SeekWell for $20 million. [25] In May, ThoughtSpot acquired data integration company Diyotta. [26]

On June 26, 2023 ThoughtSpot acquired business intelligence startup Mode Analytics for $200 million in cash and stock. [27]

ThoughtSpot's clients include Walmart and Apple. [28] [29]

Technology

ThoughtSpot allows for non-technical individuals to conduct a self-service data analysis search. [30] The company introduced ThoughtSpot Monitor, a tool that monitors information for changing patterns or trends, in 2019 as part of its ThoughtSpot 6 software. [31] ThoughtSpot's software comes with connectors called SpotApps that are each designed to integrate with different cloud services. [32]

ThoughtSpot's software can analyze data from sources like Snowflake and Databricks, and integrates with the Google Cloud Platform and Amazon Web Services. [22] [33] It also offers an analytics software product designed for Google's data warehouse service, BigQuery. [34]

As of February 2021, ThoughtSpot was working on integrations with Microsoft Azure in a joint development agreement with Microsoft. [35]

ThoughtSpot also has a product for developing interactive self-service analytics tools. [36]

Recognition

In 2016, ThoughtSpot was named a "Cool Vendor in Analytics" by Gartner. [37] In 2017, the company announced that it was included on Gartner Magic Quadrant for Business Intelligence and Analytics Platforms report. [38] 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. [39]

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References

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  3. 1 2 "ThoughtSpot Inc". Bloomberg . Archived from the original on July 13, 2023. Retrieved October 6, 2022.
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  20. ↑ "As 5 more startups join the $100M club, are we just making a pre-IPO list?". Archived from the original on 2023-04-02. Retrieved 2023-07-13.
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  35. ↑ "ThoughtSpot, Azure alliance boosts BI capabilities of both". SearchBusinessAnalytics. February 11, 2021. Archived from the original on May 17, 2022. Retrieved March 18, 2022.
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