ThoughtSpot offers a cloud-first analytics platform (the Modern Analytics Cloud) that enables natural-language search, AI-driven insights, and developer-facing tools to embed analytics into applications. The company has launched ThoughtSpot Everywhere (a developer platform), SpotApps, and the new ThoughtSpot Data Workspace to bring live analytics and tooling for analysts, analytics engineers, and developers. ThoughtSpot reports strong cloud adoption: ARR from cloud products grew over 250% in the last year, cloud products now comprise over half of its ARR, and 85% of new customers purchased cloud products (with a quarter of those purchases being six-figure deals). ThoughtSpot has integrations and partnerships across the modern data stack including Snowflake, Databricks, AWS, Azure, Google BigQuery, DataRobot, dbt Labs, Dremio, and Starburst. The company has been recognized on lists such as the Forbes Cloud 100 and has received multiple industry awards for usability and SaaS BI. ThoughtSpot plans to use new funding to accelerate go-to-market, sales and marketing, and partnerships while further investing in capabilities for data professionals and developers. ThoughtSpot is a search- and AI-driven analytics platform that enables employees to query cloud data with natural language and surface trends, anomalies, and patterns. Its product suite includes ThoughtSpot Cloud (SaaS), ThoughtSpot One (a reinvented search experience), ThoughtSpot Embrace (direct connections to major cloud data sources), and a mobile app. The company shifted to a cloud-first model over the last year and emphasizes deep integration with cloud data warehouses to democratize data access. Recent commercial metrics show rapid cloud adoption: ACV for cloud deals grew 213% year-over-year in the last quarter, 54% of ACV came from cloud products in the last year, and 92% of new customers in the last quarter purchased cloud products. Cloud products now represent a third of the company’s ARR within 18 months of launching its first cloud offering. ThoughtSpot plans to continue product innovation and tighter integration with Snowflake platform features to accelerate customer cloud migrations and scale analytics across employees. ThoughtSpot delivers search- and AI-driven analytics that allow nontechnical users to query billions of rows of enterprise data with a Google-like search and surface automated insights via machine learning. Its in-memory calculation engine is designed to return answers in seconds and to scale beyond traditional visualization-first BI tools. Customers include more than half of the Fortune 10 and enterprises such as Walmart, Hulu, Daimler, 7-Eleven, PetCo, and Rolls Royce. The company reported an average sale price of $250k and sales growth of 195% in the first half of the fiscal year, approaching a $100M run rate. Headcount has grown more than 65% to nearly 500 employees, and ThoughtSpot has expanded offices in Singapore, Tokyo, Dusseldorf and invested $25M in Bangalore while operating from Sunnyvale, Calif. With the new capital, ThoughtSpot plans to invest in go-to-market teams across North America, EMEA, and APAC, expand R&D and hiring for engineering and product teams, and fund customer and thought-leadership events. ThoughtSpot offers a next-generation, search-driven analytics platform that lets business users query complex enterprise data with Google-like search and receive automated insights via its AI engine, SpotIQ. SpotIQ emphasizes transparent AI so analyses are not conducted in a black box, driving trust and adoption. The platform connects to on-premise, cloud, big data, and desktop sources and claims 85% faster deployment than legacy technologies. ThoughtSpot reports strong enterprise traction — customers include major Global 100 enterprises and three of the Fortune 5 — and said revenue grew 180% in the fourth quarter. In first purchases more than 80% of customers invested six-figures, with several expanding to million-dollar-plus deployments; the company says users have made more than 3 million data-informed decisions per year. ThoughtSpot plans to use new funding to continue product innovation, accelerate global growth in EMEA and APAC, build language localizations, and expand R&D centers in Palo Alto, Seattle, Dallas, and Bangalore. ThoughtSpot provides an AI-driven, search-based analytics platform that enables BI and analytics users to search to analyze data or automatically get insights. The platform connects with on-premise, cloud, big data and desktop data sources. The company was co-founded in 2012 by CEO Ajeet Singh and six technical co-founders from Google, Microsoft, Amazon and Oracle. ThoughtSpot's customers include Amway, Bed Bath and Beyond, Capital One, Celebrity Cruises, Chevron Federal Credit Union, DeBeers, Insurethebox and Scotiabank, among other Fortune 500 customers. It is using the new funds to accelerate R&D for its AI-driven analytics platform, expand globally into Asia Pacific, and hire industry-focused customer success experts to nurture and grow key accounts. The company has raised more than $160M in total capital and is expanding operations across North America, Europe and Asia-Pacific.

Total raised

$644M

Funding rounds

9

Latest round

Series F

Latest activity

Nov 2021