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]

Related Research Articles

Box (company) Cloud content management program

Box, Inc. is a public company based in Redwood City, California. It develops and markets cloud-based content management, collaboration, and file sharing tools for businesses. Box was founded in 2005 by Aaron Levie and Dylan Smith. Initially, it focused on consumers, but around 2009 and 2010 Box pivoted to focus on business users. The company raised about $500 million over numerous funding rounds, before going public in 2015. Its software allows users to store and manage files in an online folder system accessible from any device. Users can then comment on the files, share them, apply workflows, and implement security and governance policies.

Splunk American technology company

Splunk Inc. is an American software company based in San Francisco, California, that produces software for searching, monitoring, and analyzing machine-generated data via a Web-style interface.

Cloudera, Inc. is an American software company providing enterprise data management systems that make significant use of Apache Hadoop. As of January 31, 2021, the company had approximately 1,800 customers.

Anaplan is a business planning software company headquartered in San Francisco, California. Anaplan sells subscriptions for cloud-based business-planning software and provides data for decision-making purposes.

Sumo Logic U.S. information technology company

Sumo Logic, Inc. is a cloud-based machine data analytics company focusing on security, operations and BI usecases. It provides log management and analytics services that leverage machine-generated big data to deliver real-time IT insights. Sumo Logic was founded in April 2010 by ArcSight veterans Kumar Saurabh and Christian Beedgen, and is headquartered in Redwood City, California.

Coupa Software is a global technology platform for Business Spend Management (BSM). The company is headquartered in San Mateo, California with offices throughout Europe, Latin America, and Asia Pacific. Coupa helps companies gain visibility into, and control over, the money and resources spent within their organizations. In 2021, Coupa was included in Gartner’s Magic Quadrant Procure-to-Pay leaders.

Demandbase is an account-based marketing (ABM), advertising, sales intelligence and data company. Its products provide business-to-business (B2B) companies sales and marketing support that helps users discover, manage, and measure target audiences. This includes identifying web visitors, targeting and engaging accounts, closing deals, and helping to grow customers. Demandbase One, the company’s suite of cloud products, provides account-based marketing (ABM) and ABX, B2B advertising, sales intelligence, and data capabilities. These products integrate into other advertising, marketing, and sales technologies including marketing automation, customer relationship management, web analytics, content and personalization, and other services.

Tidemark is a private enterprise performance management firm founded in 2010 that provides cloud-based analytics applications built for a mobile device enabled platform. Tidemark was known as Proferi when it was in stealth mode and is located in Redwood City, California. In Sept. 2013, Tidemark won the Big Data Startup Challenge and earned a spot in the Big Data 50.

Nutanix, Inc. is an American cloud computing company that sells software, cloud services, and software-defined storage.

Apptio is a Bellevue, Washington-based company founded in 2007 that develops technology business management software as a service (SaaS) applications. Apptio enterprise apps are designed to assess and communicate the cost of IT services for planning, budgeting and forecasting purposes. Apptio's services offer tools for CIOs to manage technology departments' storage, applications, energy usage, cybersecurity, and reporting obligations.

Sisense is a business intelligence software company headquartered in New York City. It also has offices in San Francisco, Scottsdale, Tel Aviv, London, Melbourne, Tokyo, and Kyiv.

Databricks Modern Cloud Data Platform

Databricks is an American enterprise software company founded by the creators of Apache Spark. Databricks develops a web-based platform for working with Spark, that provides automated cluster management and IPython-style notebooks.

Alteryx is an American computer software company based in Irvine, California, with a development center in Broomfield, Colorado. The company's products are used for data science and analytics. The software is designed to make advanced analytics accessible to any data worker.

Looker Data Sciences, Inc. is an American computer software company headquartered in Santa Cruz, California. It was acquired by Google in 2019 and is now part of the Google Cloud Platform. Looker markets a data exploration and discovery business intelligence platform.

ThousandEyes, Inc. is a network intelligence company headquartered in San Francisco with offices in Dublin, London, New York, Tokyo, and Austin, Texas. The company produces software that analyzes the performance of local and wide area networks. On May 29, 2020, Cisco announced it would be acquiring ThousandEyes.

Snowflake Inc. is a cloud computing–based data warehousing company based in Bozeman, Montana. It was founded in July 2012 and was publicly launched in October 2014 after two years in stealth mode.

Cohesity is an American privately held information technology company headquartered in San Jose, California. The company develops software that allows IT professionals to backup, manage and gain insights from their data across multiple systems or cloud providers.

CloudHealth Technologies, now CloudHealth by VMware, is a privately held software company based in Boston, Massachusetts. The company provides cloud computing services related to cost management, governance, automation, security, and performance.

Coralogix is a SaaS platform that analyzes log, metric, and security data in real-time and uses machine learning to streamline delivery and maintenance processes for software providers. It was founded in 2014 by Guy Kroupp, Ariel Assaraf, and Lior Redlus and has its headquarters in California, United States.

Alation

Alation Inc. is credited with creating the data catalog product category.

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. ↑ "Contact Us". ThoughtSpot. February 21, 2022. Retrieved March 17, 2022.
  4. ↑ "ThoughtSpot's $248M Haul Bolsters its Hand in Clash with Salesforce's Tableau". Forbes . September 7, 2018. Retrieved March 31, 2022.
  5. ↑ "ThoughtSpot". Forbes . Retrieved March 31, 2022.
  6. 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.
  7. ↑ Vanian, Jonathan (May 8, 2018). "Exclusive: ThoughtSpot Gets Huge Funding to Expand its Google-Like Search For Corporate Data". Fortune . Retrieved May 8, 2018.
  8. ↑ Gage, Deborah (February 5, 2014). "Former Googlers Create ThoughtSpot for Google-Like Enterprise Search". The Wall Street Journal. Retrieved July 29, 2016.
  9. ↑ Harris, Derrick (February 5, 2014). "Nutanix Co-Founder Launches ThoughtSpot, an Appliance for Analytics". Gigaom. Retrieved July 29, 2016.
  10. ↑ Shieber, Jonatha (May 19, 2016). "Investors Serve Up $50 Million for ThoughtSpot's Search Engine for Enterprise Data". TechCrunch. Retrieved July 29, 2016.
  11. ↑ Clancy, Heather (May 19, 2016). "Can This Startup Become the Corporate Version of Google?". Fortune. Retrieved July 29, 2016.
  12. ↑ "ThoughtSpot Expands Series C Funding With Hewlett Packard Pathfinder". Finsmes. October 17, 2016. Retrieved November 22, 2016.
  13. ↑ "ThoughtSpot Receives Series C Financing Round". Xconomy. October 18, 2016. Retrieved November 22, 2016.
  14. ↑ Swartz, Jon. "ThoughtSpot: A Unicorn With $145 Million in Funding" . Retrieved May 9, 2018.
  15. ↑ "Exclusive: ThoughtSpot Gets Big Funding to Expand its Google-Like Search For Corporate Data". Fortune. Retrieved March 9, 2021.
  16. ↑ "ThoughtSpot Names Sudheesh Nair as CEO". WSJ. August 1, 2018. Retrieved March 31, 2022.
  17. ↑ Schubarth, Cromwell (March 13, 2019). "Fast-growing Palo Alto unicorn moves HQ to Sunnyvale". Biz Journals. Biz Journals. Retrieved November 14, 2019.
  18. ↑ "ThoughtSpot hauls in $248M Series E on $1.95B valuation". TechCrunch. Retrieved March 9, 2021.
  19. ↑ As 5 more startups join the $100M club, are we just making a pre-IPO list?
  20. ↑ Schubarth, Cromwell (January 21, 2021). "Sunnyvale analytics unicorn checks another pre-IPO box by hiring Square, PayPal vet as CFO". www.bizjournals.com. Retrieved March 9, 2021.{{cite web}}: CS1 maint: url-status (link)
  21. 1 2 Cai, Kenrick (November 15, 2021). "ThoughtSpot Raises At $4.2 Billion Valuation As It Wraps Up Transition To The Cloud". Forbes. Retrieved April 11, 2022.
  22. ↑ "Tech Mahindra partners with ThoughtSpot for AI driven analytics". The Economic Times. Retrieved March 9, 2021.
  23. ↑ Whiting, Rick (March 9, 2021). "Data Cloud Giant Snowflake Tightens Alliance With Analytics Developer ThoughtSpot With $20M Investment". CRN. Retrieved April 11, 2022.
  24. ↑ "ThoughtSpot makes first acquisition, buys SeekWell". SearchBusinessAnalytics. March 31, 2021. Retrieved March 17, 2022.
  25. ↑ "Acquisition by ThoughtSpot adds data integration capabilities". SearchBusinessAnalytics. May 5, 2021. Retrieved April 11, 2022.
  26. ↑ Hebbar, Prajakta (August 29, 2019). "ThoughtSpot Raises $248 Million, Plans To Utilise It To Develop AI-Driven Analytics" . Retrieved October 23, 2019.
  27. ↑ AI Tool From Fannie Mae Sheds Light on Housing Market
  28. ↑ Novet, Jordan (June 18, 2014). "ThoughtSpot's Google-Style Search For Business Intelligence Finds $30M". VentureBeat. Retrieved August 15, 2016.
  29. ↑ ThoughtSpot 6 advances AI power of BI platform
  30. ↑ "Latest ThoughtSpot BI capabilities target new personas". SearchBusinessAnalytics. November 16, 2021. Retrieved March 18, 2022.
  31. ↑ "ThoughtSpot aims to enhance cloud-based analytics searches". SearchBusinessAnalytics. June 22, 2020. Retrieved March 18, 2022.
  32. ↑ Chan, Rosalie (March 24, 2020). "Buzzy $1.95 billion startup ThoughtSpot was seeing so many customers move to Google Cloud that it's launching one of its key analytics products on it". Business Insider. Retrieved March 18, 2022.
  33. ↑ "ThoughtSpot, Azure alliance boosts BI capabilities of both". SearchBusinessAnalytics. February 11, 2021. Retrieved March 18, 2022.
  34. ↑ Fregoni, Silvia; Gillin, Paul; Wheatley, Mike (September 23, 2021). "Building interactive data apps: Inside ThoughtSpot Everywhere's open developer-centric platform". SiliconANGLE. Retrieved March 18, 2022.
  35. ↑ King, Timothy (June 7, 2016). "Gartner Names 5 Cool Vendors in Analytics, 2016". Business Intelligence Solutions Review.
  36. ↑ "Silicon Valley startups aim to make big data capture and prep slicker". ComputerWeekly.com.
  37. ↑ "2017 Red Herring North America: Top 100 Winners". Red Herring.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.