ThoughtSpot, Inc. is a technology company that produces

business intelligence Business intelligence (BI) comprises the strategies and technologies used by enterprises for the data analysis and management of business information. Common functions of business intelligence technologies include reporting, online analytical pr ...

analytics search software. The company is based in

Mountain View, California Mountain View is a city in Santa Clara County, California, United States. Named for its views of the Santa Cruz Mountains, it has a population of 82,376. Mountain View was integral to the early history and growth of Silicon Valley, and is the ...

, and was founded in 2012.

History

ThoughtSpot was founded in 2012 by a team of engineers who previously worked for

Google Google LLC () is an American multinational technology company focusing on search engine technology, online advertising, cloud computing, computer software, quantum computing, e-commerce, artificial intelligence, and consumer electronics. ...

Oracle An oracle is a person or agency considered to provide wise and insightful counsel or prophetic predictions, most notably including precognition of the future, inspired by deities. As such, it is a form of divination. Description The word '' ...

, and other

Silicon Valley Silicon Valley is a region in Northern California that serves as a global center for high technology and innovation. Located in the southern part of the San Francisco Bay Area, it corresponds roughly to the geographical areas San Mateo County ...

companies. The CEO and co-founder, Ajeet Singh, previously co-founded the company

Nutanix Nutanix, Inc. is an American cloud computing company that sells software, cloud services (such as desktops as a service, disaster recovery as a service, and cloud monitoring), and software-defined storage. History Nutanix was founded on September ...

. In late 2012, ThoughtSpot raised $10.7 million in Series A funding led by

Lightspeed Venture Partners Lightspeed Venture Partners is a global venture capital firm focusing on multi-stage investments in the enterprise, consumer, and health sectors. Lightspeed invests in seed, early and growth-stage companies. The company invests in the U.S. and a ...

. In 2014, the company raised $30 million in Series B funding led by

Khosla Ventures Khosla Ventures is an American venture capital firm founded by Vinod Khosla, focused on early-stage companies in the Internet, computing, mobile, financial services, agriculture, healthcare and clean technology sectors. Some of its most successfu ...

. In January 2016, the company opened an office in London. In February 2016, ThoughtSpot announced that it had increased its revenue by 810 percent over the previous year. In May 2016, ThoughtSpot raised $50 million in Series C funding led by General Catalyst Partners. 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 The Hewlett Packard Enterprise Company (HPE) is an American multinational information technology company based in Spring, Texas, United States. HPE was founded on November 1, 2015, in Palo Alto, California, as part of the splitting of the H ...

infrastructure. In May 2018, the company raised $145 million in Series D funding from

Sapphire Ventures Sapphire Ventures (stylized as SAPPHIRE) is a venture capital firm with offices in Menlo Park, San Francisco, Austin, and London. The firm is considered one of the world's premier venture capital firms. The firm primarily invests in Series B th ...

Lightspeed Ventures Lightspeed Venture Partners is a global venture capital firm focusing on multi-stage investments in the enterprise, consumer, and health sectors. Lightspeed invests in seed, early and growth-stage companies. The company invests in the U.S. and a ...

, General Catalyst and others to expand its AI based

analytics Analytics is the systematic computational analysis of data or statistics. It is used for the discovery, interpretation, and communication of meaningful patterns in data. It also entails applying data patterns toward effective decision-making. It ...

platform. At the time, the company was valued at over $1 billion. In August, ThoughtSpot appointed former

President Sudheesh Nair as its new CEO. In March 2019, ThoughtSpot relocated their headquarters from Palo Alto to Sunnyvale. In August 2019, the company raised $248 million in Series E funding from

Silver Lake Silver is a chemical element with the Symbol (chemistry), symbol Ag (from the Latin ', derived from the Proto-Indo-European wikt:Reconstruction:Proto-Indo-European/h₂erǵ-, ''h₂erǵ'': "shiny" or "white") and atomic number 47. A soft, whi ...

, Sapphire Ventures, and Geodesic Capital. By 2020, the company had $100 million in annual recurring revenue. In January 2020, the company hired several new executives for a potential

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

later that year. In November, the company announced a $100 million series F funding round that valued it at $4.2 billion. On March 5, 2021 ThoughtSpot partnered with Indian information technology company

Tech Mahindra Tech Mahindra is an Indian multinational information technology services and consulting company. Part of the Mahindra Group, the company is headquartered in Pune and has its registered office in Mumbai. Tech Mahindra is a 6.0 billion company w ...

. Also in March, the company announced it had raised another $20 million in venture capital investments from partner

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

's venture capital arm Snowflake Ventures. Also in March, ThoughtSpot made its first acquisition by acquiring SQL-based analytics software startup SeekWell for $20 million. In May, ThoughtSpot acquired

data integration Data integration involves combining data residing in different sources and providing users with a unified view of them. This process becomes significant in a variety of situations, which include both commercial (such as when two similar companies ...

company Diyotta. ThoughtSpot's clients include the companies

Walmart Walmart Inc. (; formerly Wal-Mart Stores, Inc.) is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores from the United States, headquarter ...

and

Apple An apple is an edible fruit produced by an apple tree (''Malus domestica''). Apple fruit tree, trees are agriculture, cultivated worldwide and are the most widely grown species in the genus ''Malus''. The tree originated in Central Asia, wh ...

Technology

ThoughtSpot allows for non-technical individuals to conduct a self-service data analysis search. The company introduced ThoughtSpot Monitor, a tool that monitors information for changing patterns or trends, in 2019 as part of its ThoughtSpot 6 software. ThoughtSpot's software comes with connectors called SpotApps that are each designed to integrate with different cloud services. ThoughtSpot's software can analyze data from sources like

Snowflake A snowflake is a single ice crystal that has achieved a sufficient size, and may have amalgamated with others, which falls through the Earth's atmosphere as snow.Knight, C.; Knight, N. (1973). Snow crystals. Scientific American, vol. 228, no. ...

and

Databricks 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. History Da ...

, and integrates with the

Google Cloud Platform Google Cloud Platform (GCP), offered by Google, is a suite of cloud computing services that runs on the same infrastructure that Google uses internally for its end-user products, such as Google Search, Gmail, Google Drive, and YouTube. Alongside ...

and Amazon Web Services. It also offers an analytics software product designed for Google's data warehouse service,

BigQuery BigQuery is a fully managed, serverless data warehouse that enables scalable analysis over petabytes of data. It is a ''Platform as a Service'' (PaaS) that supports querying using ANSI SQL. It also has built-in machine learning capabilities. Big ...

. As of February 2021, ThoughtSpot was working on integrations with

Microsoft Azure Microsoft Azure, often referred to as Azure ( , ), is a cloud computing platform operated by Microsoft for application management via around the world-distributed data centers. Microsoft Azure has multiple capabilities such as software as a ...

in a joint development agreement with Microsoft. ThoughtSpot also has a product for developing interactive self-service analytics tools.

Recognition

In 2016, ThoughtSpot was named a "Cool Vendor in Analytics" by

Gartner Gartner, Inc is a technological research and consulting firm based in Stamford, Connecticut that conducts research on technology and shares this research both through private consulting as well as executive programs and conferences. Its clients ...

. In 2017, the company announced that it was included on Gartner Magic Quadrant for Business Intelligence and Analytics Platforms report. 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.

References

{{reflist, 2 American companies established in 2012 Software companies based in California Software companies established in 2012 Business intelligence companies