www.lsvp.com, Press ContactRyan MattisonThoughtSpot Head of Content & Communications[emailprotected], For press inquiries, contact [emailprotected]. The new round comes two years after the company's Series E, where the company raised $248M at a $1.95B valuation. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. To try it out, navigate to the Data tab, and select Utilities. 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. In the last year, 85% of new customers purchased cloud products. The company is now valued at an estimated $1.9 billion in valuation. With todays launch of the ThoughtSpot Data Workspace and SpotApps, ThoughtSpot has already brought new capabilities to these professionals. The company is readying itself to go public, says ThoughtSpot CEO Sudheesh Nair, adding that prior to . 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. 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. They can apply knowledge of data modeling & worksheet design best practices when implementing a new use case. The 10 largest IPOs by proceeds raised US$40b, with energy dominating .. 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). 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. Market Valuation. Todays data professionals require tools to better model data, rapidly launch new projects, and ultimately enable self-service for frontline business users. ThoughtSpot is the Modern Analytics Cloud company. Thats exactly what ThoughtSpot has done over the last year as we accelerated our growth as a cloud company, said Sudheesh Nair, CEO, ThoughtSpot. 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. 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. 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. Use the ThoughtSpot Web interface to upload an Excel or CSV (comma-separated values) file from your local machine. Our customers rely on us to break free from the tyranny of averages as they build their businesses on data. 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. 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. Redirecting to https://www.thoughtspot.com/thoughtspot-raises-248m-195b-valuation-transform-enterprises-search-ai-driven-analytics (308) November 22, 2021. 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. With these new cloud capabilities, ThoughtSpot has emerged as the preferred consumption layer for this entire new data stack. Looking to learn how to establish a strategic hybrid cloud? 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. See for yourself and try ThoughtSpot today. 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. 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. This includes: The industry, too, has taken notice of the innovation and value ThoughtSpot provides to customers. At [+] his previous company, Nutanix, he says he saw firsthand the growing pains of implementing the same pivot on the public market. ThoughtSpot is a business intelligence platform that helps anyone explore, analyze, and share real-time business analytics data easily. The new funding will be used to drive go-to-market like sales and marketing and partnerships with SaaS providers and cloud platform companies. ThoughtSpot on Nov. 15 revealed that it raised $100 million in venture capital funding, bringing its total valuation to $4.2 billion. The funding will also be used to enhance go-to-market for these new offerings. The Modern Milkmans Chief Strategy Officer, John Hughes on Using Data to Save Our Oceans from Plastic. 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 growth of our cloud offerings has surpassed our own expectations, accelerating our progress toward that mission. These tools have been too complex for anyone but the most sophisticated data professional to use. See for yourself and try ThoughtSpot today. The core function of the software hasnt changed with the shift to the cloud. It is a leader in business intelligence based applications and the company has come a long way in a short period of time. For instance, in a 2019 funding round, ThoughtSpot raised $248 million at a $1.95 billion valuation. Load data from flat files. 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. Last year the company launched its first software as a service (SaaS) offering in the form of the Modern Analytics Cloud. Your email address will not be published. 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. In the years between, ThoughtSpot underwent a major transformation into a cloud-first company which, evidently, shows to have paid off. 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. These individuals are tasked with architecting systems that provide for analytics quickly, at scale, and to users of all backgrounds and technical proficiencies. 413Kx Key Data Points Twitter Followers 5.5k Similarweb Unique Visitors 15.0K Majestic Referring Domains 314 You're viewing 5 of 47 investors. Get the full list Our mission is to create a more fact-driven world with the easiest to use analytics platform. 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. Know more. The valuation reset accompanied a change in business model, too. So far, the company has raised $554 million in all, bringing the latest valuation to $1.95 billion. That growth. 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. 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 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. You may opt-out by. As a result, enterprises achieve the agility they need to delight their customers, identify new revenue opportunities, and drive the bottom line. 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. 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. When people think about us, they might still know us as an on-prem company, Nair says. This is a BETA experience. FOR BUSINESS PEOPLE Instant Insights for all. For more information, visit our privacy policy page here. 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. *. 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. 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. 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. Since then, ThoughtSpot has grown efficiently, with more than $200M in the bank prior to this funding round. Enterprise data analytics provider ThoughtSpot has raised $248 million at a $1.95 billion valuation. Follow this author to stay notified about their latest stories. 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. We look forward to leveraging Marchs extensive operational and industry expertise to help ThoughtSpot build the multibillion leader in this important category.. See Load data from the ThoughtSpot UI. Nutanix is trading at a $7.5 billion market cap today, and dipped as low as $3 billion last year. After the latest round of funding, ThoughtSpot's valuation has increased to US$ 4.2 billion and that is more than double the previous valuation. Another piece of signaling he hopes will change: questions of whether ThoughtSpot will be acquired, as happened to its chief rivals, Tableau (bought by Salesforce for $16 billion in 2019) and Looker (bought by Google for $2.6 billion last year). ThoughtSpots innovative, cloud-native platform makes it easier than ever for any company, from high growth startups to global enterprises, to derive valuable insights and make smarter decisions from the large amounts of data they gather. ThoughtSpot first raised $10 million back in 2012 as a startup. ThoughtSpot will leverage the additional capital to drive two new growth vectors. 530% Size Multiple 219x Median Size Multiple 219x, 100th %ile 0.00x 0.95x. The real . Anyone who can use Google can find insights using a simple search to make data-driven decisions in seconds. Our mission is to create a more fact-driven world with the easiest to use analytics platform. 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. 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 funding will also be used to enhance go-to-market. ThoughtSpots live analytics offerings give customers an intuitive, interactive means to empower their entire organization to capitalize on innovations happening across the cloud ecosystem. 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