Data Analytics Start-up ThoughtSpot Raises Series E Funding to Expand across Geographies
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Palo Alto-based data analytics start-up, ThoughtSpot, has raised $248 million in Series E round of funding from a list of marquee investors including Silver Lake Waterman along with existing partners including Lightspeed Venture Partners, Sapphire Ventures, and Geodesic Capital. The start-up is now valued at US$1.95 billion.
Founded in 2012, it attained the coveted unicorn status last year in May after is raised US$145 million in a funding round backed by Sapphire Ventures, Lightspeed Ventures, Khosla Ventures, General Catalyst, and the Australian Government Future Fund. The AI-driven analytics platform helps business people can use Google-like search to easily analyze complex, large-scale enterprise data and get trusted insights to questions they didn’t know to ask, automatically - all with a single click.
The tech startup was founded by Indian-origin entrepreneurs including Ajit Singh, Abhishek Rai, Shashank Gupta, Amit Prakash, Priyendra Deshwal, Sanjay Agarwal, Vijay Ganesan.
With the new funding, the company 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 company’s annual customer conference Beyond 2019, according to the company statement.
In the month of April, ThoughtSpot announced the infusion of US$25 million in its engineering center in Bengaluru. ThoughtSpot CEO Sudheesh Nair also confirmed to some media websites that with this funding, the company is reportedly planning to go public.