Total amount raised
$663.7 Millions
Latest funding date
Location
Title
ThoughtSpot has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The company's AI-powered analytics platform offers a range of products designed to empower users with actionable insights.
Keep reading to explore the intricacies of ThoughtSpot's fundraising journey and the investors backing this innovative platform.
What Is ThoughtSpot?
ThoughtSpot, founded on June 1, 2012, is headquartered in Mountain View, California. The company was co-founded by Ajeet Singh, Abhishek Rai, Amit Prakash, Priyendra Deshwal, Sanjay Agrawal, Shashank Gupta, and Vijay Ganesan.
ThoughtSpot offers an AI-powered analytics platform that enables users to generate answers from business data using natural language search. Their products include ThoughtSpot Analytics, Mode, ThoughtSpot Everywhere, SpotIQ, ThoughtSpot Mobile, and ThoughtSpot for Excel.
With a workforce of 501-1000 employees, ThoughtSpot aims to democratize data access and empower users to make data-driven decisions through personalized insights.
How Much Funding Has ThoughtSpot Raised?
- Series C
- Amount Raised: $50M
- Date: May 2016
- Lead Investors: General Catalyst, Geodesic Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product development and scale operations.
- Series C
- Amount Raised: $60M
- Date: August 2017
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance AI capabilities.
- Series D
- Amount Raised: $145M
- Date: May 2018
- Lead Investors: Lightspeed Venture Partners, Sapphire Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand global reach and invest in R&D.
- Series E
- Amount Raised: $248M
- Date: August 2019
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: $1.95 billion
- Motivation Behind the Round: To support the transition to a cloud-first approach and develop the Modern Analytics Cloud.
- Venture Round
- Amount Raised: $20M
- Date: March 2021
- Lead Investors: Snowflake Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance cloud integration and expand market presence.
- Series F
- Amount Raised: $100M
- Date: November 2021
- Lead Investors: March Capital
- Valuation at Round: $4.2 billion
- Motivation Behind the Round: To support sales and marketing efforts, enhance tools for data professionals, and position the company for a potential IPO.
Total Amount Raised: $623M
Current Valuation: $4.2 billion
Key Investors
- March Capital
- Details: March Capital is a venture capital firm that invests in technology companies. They focus on high-growth startups and global enterprises.
- Investment Focus Areas: Technology, cloud-native platforms, AI, digital transformation.
- Notable Investments: Not publicly disclosed.
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a multi-stage venture capital firm. They have a strong track record in enterprise technology and consumer sectors.
- Investment Focus Areas: Enterprise technology, consumer, health, fintech.
- Notable Investments: Snap, Nest, AppDynamics.
- General Catalyst
- Details: General Catalyst is a venture capital firm that provides early-stage and growth-stage investments. They support companies across various sectors.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Airbnb, Stripe, Snap.
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm that focuses on impactful technology and sustainability investments. They are known for their diverse portfolio.
- Investment Focus Areas: Technology, healthcare, sustainability, financial services.
- Notable Investments: Square, DoorDash, Impossible Foods.
- Snowflake Ventures
- Details: Snowflake Ventures is the investment arm of Snowflake Inc., focusing on companies that leverage Snowflake's Data Cloud. They aim to foster innovation in data analytics.
- Investment Focus Areas: Data Cloud, analytics, AI.
- Notable Investments: Not publicly disclosed.
What's Next for ThoughtSpot?
ThoughtSpot's transition to a cloud-first model opens vast opportunities. With strategic partnerships with Snowflake, Wipro, and AWS, the company is poised to capitalize on the growing demand for cloud solutions. The market for AI-powered data analytics is expanding rapidly, and ThoughtSpot's innovative products are well-positioned to meet this demand.
Future fundraising could see ThoughtSpot pursuing an IPO, leveraging its $4.2 billion valuation. However, challenges such as competition from Tableau and Looker, and managing the shift from on-premises to cloud services, remain. Maintaining growth momentum and meeting revenue targets will be crucial as the company navigates these hurdles.
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