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]
On September 27, 2024, ThoughtSpot appointed Ketan Karkhanis, former Executive Vice President and General Manager of Sales Cloud at Salesforce, as its new CEO.
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. [22] [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]
Its ThoughtSpot Everywhere self-service analytics tools were introduced in 2021. [34]
In July 2025, the company launched its agentic MCP server, Spotter, an AI agent for BI analytics. [35] [36]
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$100.2 Million(2019) [5]