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 growth of our cloud offerings has surpassed our own expectations, accelerating our progress toward that mission, said Ajeet Singh, Co-founder & Executive Chairman, ThoughtSpot. 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. , 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. I was thinking, is there a worse time to do this? says CEO Sudheesh Nair. The era of dashboards is over. ThoughtSpot raised $248 million in its Series E, the company announced Wednesday, bringing its valuation to nearly $2 billion.. 42 on Forbes 2021 Cloud 100 list, says it is on track to exceed $100 million in annual recurring revenue in less than a year. Market Valuation. With ThoughtSpots developer-friendly platform, customers can also embed consumer-grade analytics into their SaaS offerings or build entirely new interactive data apps that engage users and keep them coming back for more. Amidst this paradigm shift, ThoughtSpot has announced partnerships with industry figureheads such as Amazon Web Services, Microsoft Azure, GoogleBigQuery, dbt Labs, and more. After the latest round of funding, ThoughtSpot's valuation has increased to US$ 4.2 billion and that is more than double the previous valuation. Secondly, companies continue to look for new use cases and new ways to accelerate time to value for analytics initiatives. This has made analytics one of the hottest areas in technology. Secondly, companies continue to look for new use cases and new ways to accelerate time to value for analytics initiatives. Nutanix is trading at a $7.5 billion market cap today, and dipped as low as $3 billion last year. 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. 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). Lightspeed Venture Partners is a venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise and Consumer sectors. In 2020, the company made a strategic decision to transform into a cloud-first company. 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 new funding will be used to drive go-to-market like sales and marketing and partnerships with SaaS providers and cloud platform companies. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. 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. Todays data professionals require tools to better model data, rapidly launch new projects, and ultimately enable self-service for frontline business users. So proud to be part of this rocketship Liked by Maulik Mistry. Congrats to all friends at ThoughtSpot, proud to be part of the team making something special! ThoughtSpot is the Modern Analytics Cloud company. But if we did not do it, we would not have been able to change the companys course to become a cloud company, and Covid could have wiped us out.. 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. ThoughtSpots web and mobile applications improve decision-making for every employee. If you need more information find out more on our privacy policy page. This is a BETA experience. 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 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. Learn more FOR DATA LEADERS Unleash the value of your cloud data. The company is now valued at an estimated $1.9 billion in valuation. Cloud products now make up over half of ThoughtSpots annual recurring revenue. In the last year, ARR from cloud products grew by over 250%. When I left, Nutanix was a $10 billion business. ThoughtSpot is the Modern Analytics Cloud company. Funding Rounds Number of Funding Rounds 12 Since then, ThoughtSpot has grown efficiently, with more than $200M in the bank prior to this funding round. 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. 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. The AI-powered technology then analyzes the massive amounts of data stored in sources such as Snowflake and Databricks, and provides insights such as reports and summaries about the data in real time to help the employees to make business decisions. 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. ThoughtSpot is a provider of search and AI-driven data analytics platform for enterprises. 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. 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. For even these technical professionals, existing data visualization technology couldnt handle the massive - and growing - data volumes characterizing our modern world. All of this happens in seconds, across billions of rows of data, with ThoughtSpots in-memory calculation engine. 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. 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. As ThoughtSpot gets closer. This has given rise to a new role for many organizations, the analytics engineer. 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. 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. In 2020, the company made a strategic decision to transform into a cloud-first company. Use the ThoughtSpot Web interface to upload an Excel or CSV (comma-separated values) file from your local machine. The last comparable shift started in 1997, when Tableau was born as a Stanford PhD project by one of its founders. With these new cloud capabilities, ThoughtSpot has emerged as the preferred consumption layer for this entire new data stack. 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 companys previous valuation and bringing the companys total funding to $674M. 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. They have the judgement to make good decisions, even when working with . $2 B. While todays announcement is certainly a major milestone, we know were only 2% done in achieving our goals on behalf of our customers. About 100 enterprise companies are using ThoughtSpots cloud software, including T-Mobile and energy conglomerate Schneider Electric, the company says. 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. By using this form you agree with the storage and handling of your data by this website. The funding will also be used to enhance go-to-market. ThoughtSpot first raised $10 million back in 2012 as a startup. That familiarity allowed him to swoop in and offer an appealing term sheet once Nair began to approach VCs about a potential fundraise. 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. 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. You may opt-out by. Lawyers David Ambler, Mary Wilbourn and Allie Frappier led the Cooley team advising ThoughtSpot. 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. 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.. They can apply knowledge of data modeling & worksheet design best practices when implementing a new use case. 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 companys total funding to $554M. 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. Twenty one years later, in 2019, the productivity gains provided by data visualization has hit a plateau, while the technology itself has been commoditized by the likes of PowerBI. Its time analytics software evolved to meet the needs of modern businesses, who can no longer depend on weekly dashboards to compete in a digital world. Definitions. 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. Our incredible alumni company ThoughtSpot now has a valuation of nearly $2 billion and is looking ahead to a possible IPO. The noise will go down a little, says Nair, whose ambitions are turning to an IPO now that the cloud transition is near completion. Rather, the pivot opens ThoughtSpots market to the growing base of companies that are putting their data in the cloud instead of the older solution of storing data in on-premises data centers. 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. So far, the company has raised $554 million in all, bringing the latest valuation to $1.95 billion. Fin is an experienced editor with a focus on the frontlines of global business news and cutting-edge technological trends. 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. This includes: The industry, too, has taken notice of the innovation and value ThoughtSpot provides to customers. For more about ThoughtSpot, join us at Beyond 2021, or try ThoughtSpot for yourself. Their most recent acquisition was Diyotta on May 4, 2021. See for yourself and try ThoughtSpot today. 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. ThoughtSpots software allows employees at a company to ask questions into a search box, whether they are experts with data or not. Our mission is to create a more fact-driven world with the easiest to use analytics platform. March Capital led the round, which . For more information, please visit www.thoughtspot.com. The growth of our cloud offerings has surpassed our own expectations, accelerating our progress toward that mission, said Ajeet Singh, Cofounder & Executive Chairman, ThoughtSpot. 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. Cloud Tech promotes industry thought leadership content from industry brands, businesses and analysts, partnering with writers and bloggers to deliver insight and advice on cloud IT strategy to our extensive audience of CIOs and IT managers. 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. Copyright 2022 Cloud Computing News. Users can upload their own data and explore it quickly. 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. The new round comes two years after the companys Series E, where the company raised $248M at a $1.95B valuation. Now our finance team can quickly get actionable insights with the scale and speed we need.. ThoughtSpot's quick growth, impressive size and strategic moves have only fueled IPO rumors over the past few years. As innovations like cloud, mobile, and IoT make the world more software-driven, every industry is being transformed, and enterprises are demanding more. 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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. 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 ThoughtSpot Data Workspace, a set of tools that brings Live Analytics to customers around the globe. By submitting this form, I acknowledge that I have read and understood the Privacy Policy and subscribe to receive communications from TechForge Media Ltd. 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. The company made key hires, including a new CFO and Senior Vice President. Passionate builders are encouraged to check out and apply for open positions at the company. So far, the company has raised $554 million in all, bringing the latest valuation to $1.95 billion. Our customers rely on us to break free from the tyranny of averages as they build their businesses on data. Through YTD 2022, there were a total of 630 IPOs raising US$95.4b in proceeds, reflecting decreases of 46% and 58%, respectively, YOY. This method provides a quick and easy way to complete one-time data loads when you have small files, under 50MB. But another reason for the fundraise was simply to rewrite the narrative around the company. ThoughtSpot has already brought new capabilities to these professionals. To try it out, navigate to the Data tab, and select Utilities. 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. 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. 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. 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. 2019-08-22. We look forward to leveraging Marchs extensive operational and industry expertise to help ThoughtSpot build the multibillion leader in this important category.. Incredibly excited to announce we've raised $100M in new funding at a $4.2B valuation. We look forward to leveraging Marchs extensive operational and industry expertise to help ThoughtSpot build the multibillion leader in this important category.. Todays data professionals require tools to better model data, rapidly launch new projects, and ultimately enable self-service for frontline business users. With ThoughtSpot, business people can type a simple Google-like search to instantly analyze billions of rows of data, and leverage artificial intelligence to get trusted, relevant insights pushed to them as answers to thousands of questions they might not have thought to ask. Our mission is to create a more fact-driven world with the easiest to use analytics platform. For instance, in a 2019 funding round, ThoughtSpot raised $248 million at a $1.95 billion valuation. The round was led by new investor March Capital. The valuation reset accompanied a change in business model, too. In May 2020, data analytics startup ThoughtSpot laid off 85 employees. Reach an audience of more than 500,000 cloud computing professionals. For more information, see dbt integration. 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. In the years between, ThoughtSpot underwent a major transformation into a cloud-first company which, evidently, shows to have paid off. A quarter of those purchases were six-figure investments. www.lsvp.com, Press ContactRyan MattisonThoughtSpot Head of Content & Communications[emailprotected], For press inquiries, contact [emailprotected]. *. Covering SaaS news, cloud computing jobs, virtualization strategy, cloud apps and enterprise IT, private and public cloud, system security, cloud apps, CRM and cloud communications, Cloud Tech provides the latest insight that enables CIOs to make informed decisions about IT strategy. It has been a great journey so far and looking forward to another year 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. Manager, Customer Development Analytics, Unilever. It was ThoughtSpot's fifth round of funding, raising its total VC investment to $554 million and increasing its valuation to $1.95 billion. ThoughtSpot is the Modern Analytics Cloud company. #DcodeAlumni. 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. 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. Since then, ThoughtSpot has grown efficiently, with more than $200M in the bank prior to this funding round. $743.7 M. ThoughtSpot Summary. 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. 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. All Rights The real . Weve been fortunate enough to have some of the most visionary customers supporting our mission since our inception. ThoughtSpots live analytics give customers the ability to capitalise on innovations across an organisations entire cloud ecosystem. 530% Size Multiple 219x Median Size Multiple 219x, 100th %ile 0.00x 0.95x. 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. ThoughtSpot first raised $10 million back in 2012 as a startup. Companies join an . 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. For more about ThoughtSpot, join us at Beyond 2021, or try ThoughtSpot for yourself. 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. The one thing that's abundantly clear as we raise $100M in new funding at a $4.2B valuation? The funding will also be used to enhance go-to-market for these new offerings. ThoughtSpot has acquired 2 organizations. You can follow his Twitter @FinStrathern or connect with him at https://www.linkedin.com/in/finstrathern/. See for yourself and. Some 85% of new customers are coming for its cloud products, and ThoughtSpot, which ranks No. Since then, the analytics ecosystem has undergone a massive shift as companies not only move their data to the cloud, but re-platform their entire data stack. Know more. Anyone who can use Google can find insights using a simple search to make data-driven decisions in seconds. Last year the company launched its first software as a service (SaaS) offering in the form of the Modern Analytics Cloud. The company is readying itself to go public, says ThoughtSpot CEO Sudheesh Nair, adding that prior to . When people think about us, they might still know us as an on-prem company, Nair says. Since its $145 million Series D in May 2018, the . Before ThoughtSpot, we didnt have a simple way to leverage our cloud data, said Vivek Malhotra, Sr. In the last year, 85% of new customers purchased cloud products. 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. Load data from flat files. Growth-stage public investors have joined existing backers Lightspeed Ventures and Sapphire Ventures in this round of funding. 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. The E Series round raised total funding to $554 million with a valuation of $1.95 billion. 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 is a business intelligence platform that helps anyone explore, analyze, and share real-time business analytics data easily. ThoughtSpots live analytics offerings give customers an intuitive, interactive means to empower their entire organization to capitalize on innovations happening across the cloud ecosystem. SUNNYVALE, Calif. August 28, 2019 The analytics industry is in the midst of a massive generational shift. These individuals are tasked with architecting systems that provide for analytics quickly, at scale, and to users of all backgrounds and technical proficiencies. 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. ThoughtSpot will leverage the additional capital to drive two new growth vectors. Its solution allows users to ask questions, analyze company data, and build reports and dashboards using a browser-based search interface. ThoughtSpot is the Modern Analytics Cloud company. He has published engaging interviews with leading industry figures from the likes of CBS, Rakuten, Spotify, and more. Company summary. This includes: The industry, too, has taken notice of the innovation and value ThoughtSpot provides to customers. The Modern Milkmans Chief Strategy Officer, John Hughes on Using Data to Save Our Oceans from Plastic. It raised a $100M Series F round in November 2021 at a $4.2 billion valuation. A quarter of those purchases were six-figure investments. As a result, ThoughtSpot has seen massive adoption from organizations around the globe, driving substantial new growth for the company. For press inquiries, contact [emailprotected]. November 22, 2021. 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. 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. Follow this author to stay notified about their latest stories. 1.95 billion in valuation most secure and best overall experience on our website, we have! Year later, its cloud offerings has surpassed our own expectations, accelerating our progress toward that mission moves Size and strategic moves have only fueled IPO rumors over the past few. 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