ThoughtSpot raises $145 million in Series D Funding

ThoughtSpot has successfully closed $145 million in Series D funding. The funding was oversubscribed with strong participation from both existing as well as new investors. Existing investors Lightspeed Ventures, Future Fund, Khosla Ventures, and General Catalyst participated, alongside new participants Sapphire Ventures, and other global investors. Since its founding in 2012, ThoughtSpot has raised $306 million in total funding. With the new funding, ThoughtSpot will continue to innovate its next-generation analytics platform, accelerate global business growth, including expansion in EMEA and APAC, and grow its R&D centers in Palo Alto, Seattle, Dallas, and Bangalore.

The $203 billion data and analytics industry is at an inflection point. While the industry has historically catered to technical users in the enterprise, there’s been a simultaneous explosion of knowledge workers who require data and insights to do their job. Traditional data teams, often hindered by legacy solutions, are unable to meet this growing demand, let alone take on highly strategic data projects. ThoughtSpot has taken a radically different approach to solving this problem, putting the power of 1,000 analysts into the hands of non-technical business people without requiring any special training. Businesspeople can use ThoughtSpot’s simple search-driven analytics to answer the questions they know to ask, while its AI-driven analytics engine, SpotIQ, automatically answers thousands of questions a businessperson would care about, but wouldn’t even know to ask. Data professionals, freed from generating innumerable reports and tweaking countless charts, can focus on the analytics initiatives critical to their organization’s long-term success. Unlike other artificial intelligence solutions, SpotIQ is completely transparent, meaning no decisions or analyses are conducted in a black box, fostering trust and driving adoption by end-users.

“In the few short years since founding ThoughtSpot, we have disrupted the analytics market and seen global enterprises adopt our search and AI-driven analytics due to its simplicity for business people and enterprise-grade scale and governance for today’s CIOs and CDOs,” said Ajeet Singh, Founder & CEO, ThoughtSpot. “We see a world where your analytics platform serves up insights to you before you can even articulate a question. With the new funding, we’ll continue to push the boundaries of what’s possible with self-service analytics for our customers, partners, and the industry at large.”

With digital disruption impacting every industry, both established enterprises and newer market entrants have turned to ThoughtSpot to equip their entire business, from frontline worker to C-suite executive, with true self-service analytics. The company’s record-breaking year and notable market accolades, including being named a Visionary in the Gartner Magic Quadrant for Analytics and Business Intelligence, the #1 Best Big Data Company & CEO to Work for by Glassdoor, and a Top Company: Startup by LinkedIn, demonstrate global recognition for the company’s solution.

As demand grows internationally for new ways to empower every employee with analytics, ThoughtSpot has rapidly expanded around the world. In the last year, ThoughtSpot opened new offices in Japan, as the company rapidly expands in APAC, as well as new offices in the Nordics & Baltics and Dach regions to support the burgeoning EMEA market. Furthermore, the company has adapted its search and AI-driven analytics to support Japanese and German localizations, with support for Spanish, French, Portuguese, and Simplified Chinese coming soon. With the new funding, ThoughtSpot will continue its global footprint and build language capabilities for various markets.