$743.7 M. ThoughtSpot Summary. 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. About 100 enterprise companies are using ThoughtSpots cloud software, including T-Mobile and energy conglomerate Schneider Electric, the company says. Since then, ThoughtSpot has grown efficiently, with more than $200M in the bank prior to this funding round. ThoughtSpot raises new Funding at $4.2B valuation to fuel the modern analytics cloud 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. I talked to [Splunk CEO] Doug Merritt the other day, and he said Id never do [a transition to cloud] again as a public company, says March Capital managing partner Jamie Montgomery, who led ThoughtSpots latest round. Stop waiting for custom reports from data experts and instantly answer ad-hoc data questions on the fly. Before ThoughtSpot, we didnt have a simple way to leverage our cloud data, said Vivek Malhotra, Sr. They have the judgement to make good decisions, even when working with . Todays funding shows just how valuable the work we do with our customers truly has become., From the start, ThoughtSpot has been focused on a singular mission: to create a more fact-driven world. Thats exactly what ThoughtSpot has done over the last year as we accelerated our growth as a cloud company, said Sudheesh Nair, CEO, ThoughtSpot. These tools have been too complex for anyone but the most sophisticated data professional to use. To try it out, navigate to the Data tab, and select Utilities. SUNNYVALE, Calif. August 28, 2019 The analytics industry is in the midst of a massive generational shift. 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. 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When I left, Nutanix was a $10 billion business. Companies join an . Two years later, Nair considers the transition almost all complete, a relatively quick turnaround that comes with the help of being a nimble startup. The pandemic had forced companies in less stable financial positions to cut staff, but ThoughtSpot was not one of those companiesit was still flush with hundreds of millions in untapped capital. 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. ThoughtSpot was built from the ground up to break this bottleneck, allowing enterprises to truly reap the benefits of their cloud, IoT, and big data efforts by turning data into insights at scale. 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. Markets like this usually have multiple multi-billion-dollar companies, and right now there are no real public companies in this space.. Use the ThoughtSpot Web interface to upload an Excel or CSV (comma-separated values) file from your local machine. Redirecting to https://www.thoughtspot.com/thoughtspot-raises-248m-195b-valuation-transform-enterprises-search-ai-driven-analytics (308) Subscribe to the Crunchbase Daily. The worlds most innovative enterprises use ThoughtSpot to empower every person in their organization, from C-suite executive to front-line employee, with the ability to quickly uncover data-driven insights. For more about ThoughtSpot, join us at Beyond 2021, or try ThoughtSpot for yourself. Building the Analytics Ecosystem:ThoughtSpot has announced partnerships with innovative companies like Google Cloud Platform, Snowflake, Dell, DataRobot, Alteryx, and Carahsoft to help customers tackle challenges across the data pipeline. All Rights 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. 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. 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 lets anyone ask any questions, find insights, and drill infinitely into their company data in seconds. Compare ThoughtSpot vs Business Valuation 2022. 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. But another reason for the fundraise was simply to rewrite the narrative around the company. 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. Both announcements precede ThoughtSpots annual customer conference, Beyond, on November 16th. 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. The new funding will be used to drive go-to-market like sales and marketing and partnerships with SaaS providers and cloud platform companies. Our mission is to create a more fact-driven world with the easiest to use analytics platform. The Modern Milkmans Chief Strategy Officer, John Hughes on Using Data to Save Our Oceans from Plastic. For the last year, Spotters around the world have been hard at work turning the vision for the Modern Analytics Cloud into reality. 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. ThoughtSpot has acquired 2 organizations. As ThoughtSpot gets closer. , 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. That familiarity allowed him to swoop in and offer an appealing term sheet once Nair began to approach VCs about a potential fundraise. Tags: cloud adoption, cloud analytics, cloud data, ThoughtSpot, Your email address will not be published. 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. Despite this investment, many enterprises have failed to digitally transform, shackled by tools predicated on data visualization. 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.. You have read and agreed to our Privacy Policy. The company has more than 550 employees and works with around 50 Fortune 500 companies to provide a cloud solution. This is a BETA experience. Overview. So far, the company has raised $554 million in all, bringing the latest valuation to $1.95 billion. Learn more about the virtualHybrid Cloud Congress, taking place on 18 January 2022 and explore how to optimise and unleash the power of your hybrid cloud. Weve been fortunate enough to have some of the most visionary customers supporting our mission since our inception. 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. The Series F funding, which was led by new investor March Capital and joined by previous investors Lightspeed Ventures, Snowflake Ventures, and more, will be used to accelerate growth vectors with new analysts and data engineers. The only way to keep up is to leverage our data in new, innovative ways to improve our operations, delight customers, and transform our business, said Pravin Rangachari, VP of Planning, at Haggar Clothing Co. ThoughtSpot gives us granular levels of insight into our merchandising data to help manage online and store inventory at a speed and scale to match the demand of the modern day retail shopper. The new round comes two years after the company's Series E, where the company raised $248M at a $1.95B valuation. Attracting the Right Talent: in the last year, ThoughtSpot has grown employee count by more than 65% to nearly 500 employees. We look forward to leveraging Marchs extensive operational and industry expertise to help ThoughtSpot build the multibillion leader in this important category.. 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. 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. I am so glad to have been recognized as Microsoft MVP for the second time. The Modern Milkmans Chief Strategy Officer, John Hughes on Using Data to Save Our Oceans from Plastic. 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). ThoughtSpots web and mobile applications improve decision-making for every employee. ThoughtSpot is the Modern Analytics Cloud company. 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 transition to cloud-based operations, this capability has become invaluable and company figures reveal as much. ThoughtSpot is the Modern Analytics Cloud company. ThoughtSpot will leverage the additional capital to drive two new growth vectors. Key decisions included uprooting the old sales and go-to-market teams and replacing them with people with expertise selling cloud-based subscriptions, as well as crafting new alliances with other companies in the cloud ecosystem, including Snowflake (which earlier this year invested $20 million into ThoughtSpot), IT giant Wipro and cloud provider Amazon Web Services. March Capital led the round, which . ThoughtSpots live analytics offerings give customers an intuitive, interactive means to empower their entire organization to capitalize on innovations happening across the cloud ecosystem. Register 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. Ajeet Singh, co-founder and executive chairman at ThoughtSpot, said: From the start, ThoughtSpot has been focused on a singular mission: to create a more fact-driven world. 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. ThoughtSpot released its first software-as-a-service offering last fall, and a year later, its cloud offerings make up the majority of its revenue. 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. ThoughtSpot's Series F fundraising round, back in November, garnered $100M and a $4.2 billion valuation for the company. *. The company also has an average sale price of $250k, contributing to sales growing 195% in the first half of the fiscal year as the company approaches $100M run-rate. 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. Todays data professionals require tools to better model data, rapidly launch new projects, and ultimately enable self-service for frontline business users. Integration with dbt is certified only for Snowflake connections. 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. 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 system takes this further by using AI and machine learning to automatically find and deliver insights to users they didnt even know to look for. These individuals are tasked with architecting systems that provide for analytics quickly, at scale, and to users of all backgrounds and technical proficiencies. Lawyers David Ambler, Mary Wilbourn and Allie Frappier led the Cooley team advising ThoughtSpot. Since then, ThoughtSpot has grown efficiently, with more than $200M in the bank prior to this funding round. We promised you some big news, and today, we deliver. This latest valuation is more than double the company's previous valuation of $1.95 billion (1.45bn) two years ago after its Series E round. For more information, see dbt integration. The ThoughtSpot Architect has the technical skills to implement ThoughtSpot end-to-end & understands the best practices for deploying in a production environment. 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. Secondly, companies continue to look for new use cases and new ways to accelerate time to value for analytics initiatives. his previous company, Nutanix, he says he saw firsthand the growing pains of implementing the same pivot on the public market. The company is readying itself to go public, says ThoughtSpot CEO Sudheesh Nair, adding that prior to . ThoughtSpot first raised $10 million back in 2012 as a startup. It is a leader in business intelligence based applications and the company has come a long way in a short period of time. 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. This has given rise to a new role for many organizations, the analytics engineer. 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. Last year the company launched its first software as a service (SaaS) offering in the form of the Modern Analytics 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. We look forward to leveraging Marchs extensive operational and industry expertise to help ThoughtSpot build the multibillion leader in this important category.. 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. In 2020, the company made a strategic decision to transform into a cloud-first company. Load data from flat files. ThoughtSpot is the Modern Analytics Cloud company. The real . is the Modern Analytics Cloud company. Since its launch, ThoughtSpot Everywhere has consistently seen more than 100% quarter-over-quarter growth as organizations look to bring analytics to all business applications. 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. See for yourself and try ThoughtSpot today. ThoughtSpot announced it has closed US$248m in funding at a valuation of USD 1.95b in an oversubscribed round, bringing the company's total funding to USD 554m. 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 on Nov. 15 revealed that it raised $100 million in venture capital funding, bringing its total valuation to $4.2 billion. See Load data from the ThoughtSpot UI. 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. The core function of the software hasnt changed with the shift to the cloud. In May 2020, data analytics startup ThoughtSpot laid off 85 employees. For more about ThoughtSpot, join us at Beyond 2021, or try ThoughtSpot for yourself. This has made analytics one of the hottest areas in technology. This includes: The industry, too, has taken notice of the innovation and value ThoughtSpot provides to customers. It raised a $100M Series F round in November 2021 at a $4.2 billion valuation. 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. 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. ThoughtSpot, a global analytics cloud firm, has secured a $100 million Series F fundraising round at a new $4.2 billion value, more than doubling its prior valuation and bringing total funding to $674 million. 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. All of this happens in seconds, across billions of rows of data, with ThoughtSpots in-memory calculation engine. 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. Companies today need Live Analytics - and the Modern Analytics Cloud . This modern data stack is creating trillions of dollars in value for companies, and building multiple billion dollar businesses in the process. The funding will also be used to enhance go-to-market. 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. New investor Silver Lake Waterman participated alongside existing backers Lightspeed, Sapphire Ventures and Geodesic Capital.The company serves household names like Walmart, Hulu and 7-Eleven. 42 on Forbes 2021 Cloud 100 list, says it is on track to exceed $100 million in annual recurring revenue in less than a year. 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. In the ensuing months, the pandemic accelerated digital transformation across enterprises, resulting in rapid adoption of cloud software. 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. Select dbt Integration . Such scale represented significant demand - the company could have well gone public in 2020 . For even these technical professionals, existing data visualization technology couldnt handle the massive - and growing - data volumes characterizing our modern world. Palo Alto - November 22, 2021 - Cooley advised ThoughtSpot, a modern analytics cloud company, on its $100 million Series F financing round, which brings its valuation to $4.2 billion. 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. 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. Company summary. The company is now valued at an estimated $1.9 billion in valuation. Since its $145 million Series D in May 2018, the . See for yourself and. ThoughtSpot, a cloud data analytics start-up, has raised $100 million (74m) in Series F funding to reach a new valuation of $4.2 billion (3.1bn). 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. The growth of our cloud offerings has surpassed our own expectations, accelerating our progress toward that mission. 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. With todays launch of the ThoughtSpot Data Workspace and SpotApps, ThoughtSpot has already brought new capabilities to these professionals. This has given rise to a new role for many organizations, the analytics engineer. With these new cloud capabilities, ThoughtSpot has emerged as the preferred consumption layer for this entire new data stack. For press inquiries, contact [emailprotected]. Their most recent acquisition was Diyotta on May 4, 2021. ThoughtSpot has already brought new capabilities to these professionals. As a result, enterprises achieve the agility they need to delight their customers, identify new revenue opportunities, and drive the bottom line. As of August 2020, ThoughtSpot raised $248 million in a Series E round with a $1.95 billion valuation. Definitions. The new funding will be used to drive go-to-market like sales and marketing and partnerships with SaaS providers and cloud platform companies. The round was led by new investor March Capital. 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. Get the full list Our customers rely on us to break free from the tyranny of averages as they build their businesses on data. Cloud products now make up over half of ThoughtSpots annual recurring revenue. 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. Our mission is to create a more fact-driven world with the easiest to use analytics platform. With these new cloud capabilities, ThoughtSpot has emerged as the preferred consumption layer for this entire new data stack.
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