These individuals are tasked with architecting systems that provide for analytics quickly, at scale, and to users of all backgrounds and technical proficiencies. Company summary. With todays launch of the ThoughtSpot Data Workspace and SpotApps, ThoughtSpot has already brought new capabilities to these professionals. Im excited to see how their Search & AI capabilities will accelerate with the new funding to bring even more value to enterprises like ours., The funding comes on the heels of a year of record growth for ThoughtSpot across all facets of the company, which includes. Expanding the Global Footprint: Since its Series D funding, ThoughtSpot has opened new offices in Singapore, Tokyo, Dusseldorf, and invested $25M in its office in Bangalore, India. Todays data professionals require tools to better model data, rapidly launch new projects, and ultimately enable self-service for frontline business users. Looking to learn how to establish a strategic hybrid cloud? ThoughtSpots innovative, cloud-native platform makes it easier than ever for any company, from high growth startups to global enterprises, to derive valuable insights and make smarter decisions from the large amounts of data they gather. SUNNYVALE, Calif. November 15, 2021 ThoughtSpot, the Modern Analytics Cloud company, today announced that it raised a $100M Series F funding round at a new $4.2B valuation, more than doubling the company's previous valuation and bringing the company's total funding to $674M. The growth of our cloud offerings has surpassed our own expectations, accelerating our progress toward that mission. Both announcements precede ThoughtSpots annual customer conference, Beyond, on November 16th. You have read and agreed to our Privacy Policy. Your email address will not be published. You can follow his Twitter @FinStrathern or connect with him at https://www.linkedin.com/in/finstrathern/. The growth of our cloud offerings has surpassed our own expectations, accelerating our progress toward that mission, said Ajeet Singh, Cofounder & Executive Chairman, ThoughtSpot. Our incredible alumni company ThoughtSpot now has a valuation of nearly $2 billion and is looking ahead to a possible IPO. Congrats to all friends at ThoughtSpot, proud to be part of the team making something special! ThoughtSpot has 573 and Business Valuation has 1 customers in Analytics And BI Platform industry. ThoughtSpot was started by a bunch of ex-Googlers looking to bring the power of search to data. Gain insights into how companies can successfully navigate the transition from data-aware to truly data-driven with the rules of engagement for the new era. . The cloud transition came just in time to avoid falling behind in the market. For instance, in a 2019 funding round, ThoughtSpot raised $248 million at a $1.95 billion valuation. We look forward to leveraging Marchs extensive operational and industry expertise to help ThoughtSpot build the multibillion leader in this important category.. To help enterprises compete in this new world, ThoughtSpot today announced it has closed $248M in funding at a valuation of $1.95B in an oversubscribed round, bringing the company's total funding to $554M. By making insights a part of every conversation and every decision, ThoughtSpot is reimagining the role of data in creating a more fact-driven world. ThoughtSpot first raised $10 million back in 2012 as a startup. At the time, analysts said it likely represented ThoughtSpot's final funding round and that its next major financial move would be to either go public or find a buyer. Our mission is to create a more fact-driven world with the easiest to use analytics platform. Gain insights into how companies can successfully navigate the transition from data-aware to truly data-driven with the rules of engagement for the new era. ThoughtSpot is the Modern Analytics Cloud company. Users can upload their own data and explore it quickly. For even these technical professionals, existing data visualization technology couldnt handle the massive - and growing - data volumes characterizing our modern world. The noise will go down a little, says Nair, whose ambitions are turning to an IPO now that the cloud transition is near completion. New investorSilver Lake Waterman, Silver Lakes late-stage growth capital fund,joined existing backers Lightspeed Venture Partners, Sapphire Ventures, and Geodesic Capital in this round of funding. The timing was optimal as the global analytics ecosystem underwent a huge shift during the pandemic, with organisations shifting their entire data stack to the cloud. 2019-08-22. Theres no real future for companies on prem, says Nair, who joined ThoughtSpot as CEO in 2018 after seven years as president at Nutanix, a software company that underwent its own transition to the cloud while answering to shareholders on the public market. On Monday, the Sunnyvale, California, company announced its first round of financing since the pivot: A $100 million Series F round led by a $45 million contribution from new investor March Capital. With ThoughtSpots developer-friendly platform, customers can also embed consumer-grade analytics into their SaaS offerings or build entirely new interactive data apps that engage users and keep them coming back for more. Recognition as a Market Leader:ThoughtSpot was named the first new leader in six years in the Gartner Magic Quadrant for Analytics & BI Platforms, a technology pioneer by the World Economic Forum, one of the 100 most important cloud companies by Forbes, and one of the 50 best cloud companies to work for by Glassdoor and Bessemer Ventures. The company is readying itself to go public, says ThoughtSpot CEO Sudheesh Nair, adding that prior to . To try it out, navigate to the Data tab, and select Utilities. With ThoughtSpot, anyone can leverage natural language search and AI to find data insights and tap into the most cutting-edge innovations the cloud data ecosystem has to offer. Our Live Analytics services deliver personalized, actionable insights at the point of impact for every user, at every level. Manager, Customer Development Analytics, Unilever. Oct 13, 2022,09:00am EDT For Fear Of Being Labeled 'Loco', Hispanics Dodge Mental Health Resources And Suffer Venture Capital ThoughtSpot Raises At $4.2 Billion Valuation As It Wraps Up. Comment * document.getElementById("comment").setAttribute( "id", "a2051de9484c5076f28abe8c4b0fd47d" );document.getElementById("c2df808188").setAttribute( "id", "comment" ); Save my name, email, and website in this browser for the next time I comment. In 2019 ThoughtSpot grew its top line at 108% to a $100 million run rate, according to my February 2020 interview with Ajeet Singh, ThoughtSpot's cofounder and executive chairman. By submitting this form, I acknowledge that I have read and understood the Privacy Policy and subscribe to receive communications from TechForge Media Ltd. We look forward to leveraging Marchs extensive operational and industry expertise to help ThoughtSpot build the multibillion leader in this important category.. Following the companys significant cloud growth, $100M in new funding will accelerate innovation, open opportunities for M&A, and help bring the Modern Analytics Cloud to companies around the globe, ThoughtSpot announces $100M Series F funding round at a new $4.2B valuation (Graphic: Business Wire). Incredibly excited to announce we've raised $100M in new funding at a $4.2B valuation. Our customers rely on us to break free from the tyranny of averages as they build their businesses on data. Since then, the analytics ecosystem has undergone a massive shift as companies not only move their data to the cloud, but replatform their entire data stack. The company has announced integrations and partnerships with leading players like Snowflake, Databricks, Amazon Web Services, Microsoft Azure, GoogleBigQuery, DataRobot, dbt Labs, Dremio, Starburst, and more, making ThoughtSpot ubiquitous across the modern data stack. Live Analytics for your modern data stack, Search to find and create insights in seconds, Build personalized and engaging data apps, Get one-click AI-driven analysis to get to the why faster, Keep a finger on the pulse ofyour business with Liveboards, Balance self-service with enterprise-scale control, Live-query your cloud data in just a few clicks, Accelerate use case deployment with pre-built apps, Make your data intuitive for Live Analytics, Stay up to date with the latest product news and releases, Push cloud data insights to business apps. About 100 enterprise companies are using ThoughtSpots cloud software, including T-Mobile and energy conglomerate Schneider Electric, the company says. Organizations like Walmart, BT, Daimler, Medtronic, Hulu, Royal Bank of Canada, Nasdaq, OpenTable, Workato, and Nationwide Building Society rely on ThoughtSpot to transform how their employees and customers take advantage of data. ThoughtSpot's quick growth, impressive size and strategic moves have only fueled IPO rumors over the past few years. Definitions. With the launch of ThoughtSpot Everywhere, ThoughtSpots developer platform, in May of last year, companies have been able to embed analytics into their own apps that take advantage of various ThoughtSpot cloud services through simple and flexible APIs. In the fall of last year, ThoughtSpot launched its first SaaS offering with the introduction of the Modern Analytics Cloud, the most simple, open, and programmable consumption layer for the modern data stack. With ThoughtSpot, anyone can leverage natural language search and AI to find data insights and tap into the most cutting-edge innovations the cloud data ecosystem has to offer. ThoughtSpot's Series F fundraising round, back in November, garnered $100M and a $4.2 billion valuation for the company. 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SUNNYVALE, Calif.--(BUSINESS WIRE)--ThoughtSpot, the Modern Analytics Cloud company, today announced that it raised a $100M Series F funding round at a new $4.2B valuation, more than doubling the companys previous valuation and bringing the companys total funding to $674M. ThoughtSpot is a business intelligence platform that helps anyone explore, analyze, and share real-time business analytics data easily. Before ThoughtSpot, we didnt have a simple way to leverage our cloud data, said Vivek Malhotra, Sr. For Q2 2022, the global IPO market saw 305 deals raising US$40.6b in proceeds, a decrease of 54% and 65%, respectively, year-over-year (YOY). Montgomery says his firm began paying attention to ThoughtSpot toward the start of its transition, and arranged for one of his funds limited partners to acquire secondary shares of the company earlier this year. Both announcements precede ThoughtSpots annual customer conference, Beyond, on November 16th. The company has announced integrations and partnerships with leading players like Snowflake, Databricks, Amazon Web Services, Microsoft Azure, GoogleBigQuery, DataRobot, dbt Labs, Dremio, Starburst, and more, making ThoughtSpot ubiquitous across the modern data stack. ThoughtSpot is simple enough for any business person to use, yet powerful enough to handle even the largest, most complex enterprise data without sacrificing speed, security, or governance. One of the most challenging and most rewarding parts of being a CEO is helping a company stay focused ahead of the changing needs of its customers. The funding will also be used to enhance go-to-market for these new offerings. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 350 companies globally, including Snap, The Honest Company, GrubHub, Nest, Nutanix, AppDynamics, and MuleSoft. Reserved. ThoughtSpot will leverage the additional capital to drive two new growth vectors. For more about ThoughtSpot, join us at Beyond 2021, or try ThoughtSpot for yourself. Load data from flat files. While todays announcement is certainly a major milestone, we know were only 2% done in achieving our goals on behalf of our customers. A Forbes Cloud 100 honoree for the fourth consecutive year, One of the Best Workplaces for Innovators from Fast Company, Gartners Peer Insight Customers Choice for Analytics and Business Intelligence Platforms, 2021 Best Usability Award in Business Intelligence from TrustRadius, Best SaaS Product for Business Intelligence and Analytics by the 2021 SaaS Awards. This has made analytics one of the hottest areas in technology. ThoughtSpot first raised $10 million back in 2012 as a startup. I am so glad to have been recognized as Microsoft MVP for the second time. Our mission is to create a more fact-driven world with the easiest to use analytics platform. ThoughtSpots web and mobile applications improve decision-making for every employee. November 22, 2021. Cloud products now make up over half of ThoughtSpots annual recurring revenue. In May 2020, data analytics startup ThoughtSpot laid off 85 employees. Corrections & Clarifications: An earlier version of the story stated that the company released its first subscription software last year; the new offering was its first software-as-a-service product, but the company sold other subscription-based software before that point. Enterprise data analytics provider ThoughtSpot has raised $248 million at a $1.95 billion valuation. See for yourself and try ThoughtSpot today. In the fall of last year, ThoughtSpot launched its first SaaS offering with the introduction of the Modern Analytics Cloud, the most simple, open and programmable consumption layer for the modern data stack. This is a BETA experience. When I see the work our customers like Walmart, BT, and Daimler are doing with ThoughtSpot to transform their critical functions like supply chain or customer service, Im incredibly inspired, but I also realize how much unlocked potential remains when it comes to data-driven insights, said Sudheesh Nair, CEO, ThoughtSpot. We are pleased to see both cloud-native companies such as Cloud Academy and Frontify and large enterprises like T-Mobile make their data teams more productive and their businesses more data-driven with the Modern Analytics Cloud.. As technology redefines every industry, enterprises know they need to arm decision makers throughout their organizations with smarter insights in order to compete and grow their businesses in the digital era. All of this happens in seconds, across billions of rows of data, with ThoughtSpots in-memory calculation engine. In the ensuing months, the pandemic accelerated digital transformation across enterprises, resulting in rapid adoption of cloud software. ThoughtSpots live analytics offerings give customers an intuitive, interactive means to empower their entire organization to capitalize on innovations happening across the cloud ecosystem. Companies can now put the power of their modern data stack in the hands of every employee, extend the value of their data to partners and customers, and automate entire business processes. Markets like this usually have multiple multi-billion-dollar companies, and right now there are no real public companies in this space.. If you need more information find out more on our privacy policy page. Learn more about ThoughtSpot stock Sector Enterprise Software Founded 2012 Total Funding to Date $678.25MM Register for Details For more details on financing and valuation for ThoughtSpot, register or login. That growth. At [+] his previous company, Nutanix, he says he saw firsthand the growing pains of implementing the same pivot on the public market. Its solution allows users to ask questions, analyze company data, and build reports and dashboards using a browser-based search interface. The Modern Milkmans Chief Strategy Officer, John Hughes on Using Data to Save Our Oceans from Plastic. In the years between, ThoughtSpot underwent a major transformation into a cloud-first company which, evidently, shows to have paid off. Thats why customers like Walmart, 7-11, BT, Celebrity Cruises, Daimler, De Beers, Hulu, Miami Childrens Health System, Nationwide Building Society, and Scotiabank have turned to ThoughtSpot to transform their decision-making cultures. In the previous funding round, ThoughtSpot had raised US$ 248 million, and it was then valued at US$1.95 billion. When I left, Nutanix was a $10 billion business. But the startup was executing a pivot to the cloud and had decided to let go of workers whose jobs were too deeply embedded in its old business model. The E Series round raised total funding to $554 million with a valuation of $1.95 billion. ThoughtSpot is a provider of search and AI-driven data analytics platform for enterprises. It was ThoughtSpot's fifth round of funding, raising its total VC investment to $554 million and increasing its valuation to $1.95 billion. Now our finance team can quickly get actionable insights with the scale and speed we need.. The round was led by new investor March Capital and joined by existing investors Lightspeed Ventures, Snowflake Ventures, Khosla Ventures, Fidelity, Capital One Ventures, General Catalyst, Sapphire Ventures, and GIC. ThoughtSpot has a post-money valuation in the range of $1B to $10B as of Nov 17, 2021, according to PrivCo. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Learn more FOR DATA LEADERS Unleash the value of your cloud data. Despite this investment, many enterprises have failed to digitally transform, shackled by tools predicated on data visualization. This includes several new executive hires, such as CEO Sudheesh Nair, Chief Data Strategy Officer Cindi Howson, SVP of Products Raja Mukhopadhyay, SVP of World Wide Sales Brian McCarthy, SVP of Business Operations David Freeman, VP of Public Sector Monica McEwen, VP of People Operations Marta Molina Paul, VP of Channels & Alliances Toni Adams, and VP of EMEA operations Spencer Tuttle. 413Kx Key Data Points Twitter Followers 5.5k Similarweb Unique Visitors 15.0K Majestic Referring Domains 314 You're viewing 5 of 47 investors. In 2020, the company made a strategic decision to transform into a cloud-first company. With the new funding, ThoughtSpot will continue to invest in its go-to-market teams in North America, EMEA, and APAC to meet growing demand, expand R&D efforts, including hiring for its engineering and product teams, and invest in customer and thought leadership events, like the companys annual customer conference Beyond 2019. Thats exactly what ThoughtSpot has done over the last year as we accelerated our growth as a cloud company, said Sudheesh Nair, CEO, ThoughtSpot. With the new dbt integration, you provide your existing dbt models and ThoughtSpot automatically creates worksheets you can use to query your data. The new funding will be used to drive go-to-market like sales and marketing and partnerships with SaaS providers and cloud platform companies. ThoughtSpots live analytics give customers the ability to capitalise on innovations across an organisations entire cloud ecosystem. Tags: cloud adoption, cloud analytics, cloud data, ThoughtSpot, Your email address will not be published. Since then, ThoughtSpot has grown efficiently, with more than $200M in the bank prior to this funding round. Redirecting to https://www.thoughtspot.com/thoughtspot-raises-248m-195b-valuation-transform-enterprises-search-ai-driven-analytics (308) The company is now valued at an estimated $1.9 billion in valuation. ThoughtSpot is the Modern Analytics Cloud company. We are pleased to see both cloud-native companies such as Cloud Academy and Frontify and large enterprises like T-Mobile make their data teams more productive and their businesses more data-driven with the Modern Analytics Cloud., We are thrilled to be backing the world-class ThoughtSpot team as they continue to dominate the rapidly growing cloud analytics market, said James Montgomery, Co-Founder and Managing Partner of March Capital. is the Modern Analytics Cloud company. This recognition includes the following accolades: The new funding will be used to accelerate two new growth vectors for ThoughtSpot with analysts, data engineers, and developers, the roles upon which the entire modern data stack rests. For the last year, Spotters around the world have been hard at work turning the vision for the Modern Analytics Cloud into reality. Register As ThoughtSpot eyes new growth vectors and focuses on capabilities for developers and data professionals, the company also announced today the launch of the new. Our Live Analytics services deliver personalized, actionable insights at the point of impact for every user, at every level. It will also be used to drive marketing and form partnerships with SaaS providers and cloud platform operators. Seven years later the company is growing fast, sporting a fat valuation of almost $2 billion and. As ThoughtSpot gets closer to going public, it may disclose how much money it intends to raise from its IPO along with the number of shares that will be available to the general public. The vendor completed its Series F round, and has more than doubled its valuation from $1.95 billion in August 2019 when it last raised venture capital funds. Know more. This ThoughtSpot Evaluation License Agreement (" Agreement ") is between ThoughtSpot and the you (individual or entity) that has downloaded or otherwise procured the licensed Software or Appliance (as those terms are defined below) for use as an end user (" Company "). The growth of our cloud offerings has surpassed our own expectations, accelerating our progress toward that mission, said Ajeet Singh, Co-founder & Executive Chairman, ThoughtSpot. Companies can now put the power of their modern data stack in the hands of every employee, extend the value of their data to partners and customers, and automate entire business processes. The round was led by new investor March Capital. The core function of the software hasnt changed with the shift to the cloud. After taking over as CEO at ThoughtSpot from cofounder Ajeet Singh (himself a Nutanix cofounder), Nair spent six months mapping out the cloud transition road map. Streaming service Hulu uses ThoughtSpots app to measure how successful a specific show is in driving subscriptions, enabling its employees to make adjustments on how to present shows and movies to users. Manager, Customer Development Analytics, Unilever. In the last year, 85% of new customers purchased cloud products. With these new cloud capabilities, ThoughtSpot has emerged as the preferred consumption layer for this entire new data stack. We will not rest on our laurels and will continue to bring fundamental innovation to the market, because that is who we are., Charting the Future with AI-Driven Analytics. Companies join an . As innovations like cloud, mobile, and IoT make the world more software-driven, every industry is being transformed, and enterprises are demanding more. They have the judgement to make good decisions, even when working with . Companies can now put the power of their modern data stack in the hands of every employee, extend the value of their data to partners and customers, and automate entire business processes. Copyright 2022 Cloud Computing News. Such scale represented significant demand - the company could have well gone public in 2020 . ThoughtSpots live analytics offerings give customers an intuitive, interactive means to empower their entire organization to capitalize on innovations happening across the cloud ecosystem.