SUNNYVALE, Calif. -- August 28, 2019 -- The analytics industry is in the midst of a massive generational shift. The last comparable shift started in 1997, when Tableau was born as a Stanford PhD project by one of its founders. The data visualization technology pioneered by Tableau and Qlik was nothing short of revolutionary. 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. As innovations like cloud, mobile, and IoT make the world more software-driven, every industry is being transformed, and enterprises are demanding more. It’s 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.
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. New investor Silver Lake Waterman, Silver Lake’s late-stage growth capital fund, joined existing backers Lightspeed Venture Partners, Sapphire Ventures, and Geodesic Capital in this round of funding.
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 company’s annual customer conference Beyond 2019. Passionate builders are encouraged to check out and apply for open positions at the company.
“When I see the work our customers like Walmart, BT, and Daimler are doing with ThoughtSpot to transform their critical functions like supply chain or customer service, I’m incredibly inspired, but I also realize how much unlocked potential remains when it comes to data-driven insights,” said Sudheesh Nair [pictured], CEO, ThoughtSpot. “The world is changing fast, and businesses that change faster will thrive. As technology partners to our customers, we have only one job: provide the agility that’s like oxygen to these organizations so they can compete and win.” More...