ThoughtSpot

Last updated
ThoughtSpot, Inc.
FormerlyScaligent Inc. [1]
Type Private
Industry Analytics, Business intelligence
Founded2012;10 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
RevenueIncrease2.svg $100.2 Million(2019) [4]
Number of employees
600 [5]
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. [6] [7]

Contents

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]

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