ThoughtSpot

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ThoughtSpot, Inc.
FormerlyScaligent Inc.[1]
TypePrivate
IndustryAnalytics, Business intelligence
Founded2012; 10 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
  • Mohit Daswani CFO
RevenueIncrease $100.2 Million(2019)[3]
Number of employees
580[4]
Websitethoughtspot.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.[5][6]

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.[7] In late 2012, ThoughtSpot raised $10.7 million in Series A funding led by Lightspeed Venture Partners.[8] 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.[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.[9][10] 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.[11][12]

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.[13] At the time, the company was valued at over $1 billion.[14]

In March 2019, ThoughtSpot relocated their headquarters from Palo Alto to Sunnyvale.[15] In August 2019, the company $28 million is Series E funding from Silver Lake, Sapphire Ventures, and Geodesic Capital.[16] By 2020, the company had $100 million in annual recurring revenue.[17]

In January 2021, the company hired several new executives for a potential initial public offering later that year.[18] On March 5, 2021 ThoughtSpot partnered with Indian information technology company Tech Mahindra.[19] ThoughtSpot's clients include the companies Walmart, Apple, BT, Bed Bath & Beyond, Hightail and Fannie Mae.[20][21]

Technology[]

ThoughtSpot allows for non-technical individuals to conduct a self-service data analysis search.[22] The company introduced ThoughtSpot Monitor, a tool that monitors information for changing patterns or trends, in 2019 as part of its ThoughtSpot 6 software.[23]

Recognition[]

In 2016, ThoughtSpot was named a "Cool Vendor in Analytics" by Gartner.[24] In 2017, the company announced that it was included on Gartner Magic Quadrant for Business Intelligence and Analytics Platforms report.[25] 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.[26] The company was recognized on Glassdoor's "Best Places to Work" list for 2020.[27]

References[]

  1. ^ a b Lopez, Destiny (May 23, 2016). "ThoughtSpot Brings Total Capital Investment to Over $90 Million With Series C Funding". Equities. Retrieved July 29, 2016.
  2. ^ a b 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. ^ a b 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. ^ Vanian, Jonathan (2018-05-08). "Exclusive: ThoughtSpot Gets Huge Funding to Expand its Google-Like Search For Corporate Data". Fortune. Retrieved 2018-05-08.
  7. ^ Gage, Deborah (February 5, 2014). "Former Googlers Create ThoughtSpot for Google-Like Enterprise Search". The Wall Street Journal. Retrieved July 29, 2016.
  8. ^ Harris, Derrick (February 5, 2014). "Nutanix Co-Founder Launches ThoughtSpot, an Appliance for Analytics". Gigaom. Retrieved July 29, 2016.
  9. ^ Shieber, Jonatha (May 19, 2016). "Investors Serve Up $50 Million for ThoughtSpot's Search Engine for Enterprise Data". TechCrunch. Retrieved July 29, 2016.
  10. ^ Clancy, Heather (May 19, 2016). "Can This Startup Become the Corporate Version of Google?". Fortune. Retrieved July 29, 2016.
  11. ^ "ThoughtSpot Expands Series C Funding With Hewlett Packard Pathfinder". Finsmes. October 17, 2016. Retrieved November 22, 2016.
  12. ^ "ThoughtSpot Receives Series C Financing Round". Xconomy. October 18, 2016. Retrieved November 22, 2016.
  13. ^ Swartz, Jon. "ThoughtSpot: A Unicorn With $145 Million in Funding". Retrieved 2018-05-09.
  14. ^ "Exclusive: ThoughtSpot Gets Big Funding to Expand its Google-Like Search For Corporate Data". Fortune. Retrieved 2021-03-09.
  15. ^ Schubarth, Cromwell (March 13, 2019). "Fast-growing Palo Alto unicorn moves HQ to Sunnyvale". Biz Journals. Biz Journals. Retrieved November 14, 2019.
  16. ^ "ThoughtSpot hauls in $248M Series E on $1.95B valuation". TechCrunch. Retrieved 2021-03-09.
  17. ^ As 5 more startups join the $100M club, are we just making a pre-IPO list?
  18. ^ Schubarth, Cromwell (January 21, 2021). "Sunnyvale analytics unicorn checks another pre-IPO box by hiring Square, PayPal vet as CFO". www.bizjournals.com. Retrieved 2021-03-09.{{cite web}}: CS1 maint: url-status (link)
  19. ^ "Tech Mahindra partners with ThoughtSpot for AI driven analytics". The Economic Times. Retrieved 2021-03-09.
  20. ^ Hebbar, Prajakta. "ThoughtSpot Raises $248 Million, Plans To Utilise It To Develop AI-Driven Analytics". Retrieved 2019-10-23.
  21. ^ AI Tool From Fannie Mae Sheds Light on Housing Market
  22. ^ Novet, Jordan (June 18, 2014). "ThoughtSpot's Google-Style Search For Business Intelligence Finds $30M". VentureBeat. Retrieved August 15, 2016.
  23. ^ ThoughtSpot 6 advances AI power of BI platform
  24. ^ King, Timothy (June 7, 2016). "Gartner Names 5 Cool Vendors in Analytics, 2016". Business Intelligence Solutions Review.
  25. ^ "Silicon Valley startups aim to make big data capture and prep slicker". ComputerWeekly.com.
  26. ^ "2017 Red Herring North America: Top 100 Winners". Red Herring.
  27. ^ These Are the Best Companies to Work for in 2020
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