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ThoughtSpot

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ThoughtSpot, Inc.
FormerlyScaligent Inc.[1]
TypePrivate
IndustryAnalytics, business intelligence
Founded2012; 14 years ago (2012) in Palo Alto, California, United States
FoundersAjeet Singh
Amit Prakash[2]
Headquarters
Mountain View, California[3]
Number of locations
9[4]
Key people
  • Amit Prakash, co-founder
  • Ajeet Singh, co-founder and chairman
  • Ketan Karkhanis, CEO
RevenueIncrease $100.2 Million(2019)[5]
Number of employees
600[6]
Websitethoughtspot.com

ThoughtSpot, Inc. is a technology company that produces business intelligence analytics search software. The company is based in Mountain View, California, and was founded in 2012.[3][7][8]

History

[edit]

ThoughtSpot was started in 2012 by Ajeet Singh (CEO) and Amit Prakash (CTO). The CEO and co-founder, Ajeet Singh, previously co-founded the company Nutanix.[9] The CTO and co-founder, Amit Prakash, came from Google where he was responsible for one of the machine learning systems for Ads. In late 2012, ThoughtSpot raised $10.7 million in Series A funding led by Lightspeed Venture Partners.[10] In 2014, the company raised $30 million in Series B funding led by Khosla Ventures.[2]

In January 2016, the company opened an office in London.[7] In February 2016, ThoughtSpot announced that it had increased its revenue by 810 percent over the previous year.[1] In May 2016, ThoughtSpot raised $50 million in Series C funding led by General Catalyst Partners.[11][12] In October 2016, the company expanded its series C funding with an investment from Hewlett Packard Pathfinder. As part of the investment, ThoughtSpot entered the Pathfinder program and began selling its software on Hewlett Packard Enterprise infrastructure.[13][14]

In May 2018, the company raised $145 million in Series D funding from Sapphire Ventures, Lightspeed Ventures, Khosla Ventures, General Catalyst and others to expand its AI based analytics platform.[15] At the time, the company was valued at over $1 billion.[16] In August, ThoughtSpot appointed former Nutanix President Sudheesh Nair as its new CEO.[17]

In March 2019, ThoughtSpot relocated their headquarters from Palo Alto to Sunnyvale.[18] In August 2019, the company raised $248 million in Series E funding from Silver Lake, Sapphire Ventures, and Geodesic Capital.[19]

By 2020, the company had $100 million in annual recurring revenue.[20] In January 2020, the company hired several new executives for a potential initial public offering later that year.[21] In November, the company announced a $100 million series F funding round that valued it at $4.2 billion.[22]

On March 5, 2021, ThoughtSpot partnered with Indian information technology company Tech Mahindra.[23] Also in March, the company announced it had raised another $20 million in venture capital investments from partner Snowflake Inc.'s venture capital arm Snowflake Ventures.[24] Also in March, ThoughtSpot made its first acquisition by acquiring SQL-based analytics software startup SeekWell for $20 million.[25] In May, ThoughtSpot acquired data integration company Diyotta.[26]

On June 26, 2023, ThoughtSpot acquired business intelligence startup Mode Analytics for $200 million in cash and stock.[27]

On September 27, 2024, ThoughtSpot appointed Ketan Karkhanis, former Executive Vice President and General Manager of Sales Cloud at Salesforce, as its new CEO.

Technology

[edit]

ThoughtSpot enables non-technical individuals to perform self-service data analysis.[28] ThoughtSpot's software can analyze data from sources like Snowflake and Databricks, and integrates with the Google Cloud Platform and Amazon Web Services.[22][29] Originally, ThoughtSpot was focused on selling licensed business intelligence software.[30][31] Over time, it moved to a Software as a Service (SaaS) model[30] and to self-service analytics, in which a business user retrieves insights by entering a query.[31]

The company introduced ThoughtSpot Monitor, a tool that checks information for changing patterns or trends, in 2019 as part of its ThoughtSpot 6 software.[32] In 2021, ThoughtSpot added connectors called SpotApps that are each designed to integrate with different cloud services.[33] Its ThoughtSpot Everywhere self-service analytics tools were introduced in 2021.[34] In November 2024, it added a feature called Spotter to understand natural language queries requesting data analysis.[35] In July 2025, ThoughtSpot released its Agentic MCP Server; through it Spotter can interact with other AI tools and unstructured data using the Model Context Protocol.[36]

References

[edit]
  1. ^ a b Lopez, Destiny (May 23, 2016). "ThoughtSpot Brings Total Capital Investment to Over $90 Million With Series C Funding". Equities. Archived from the original on September 14, 2016. Retrieved July 29, 2016.
  2. ^ a b Miller, Ron (June 18, 2014). "ThoughtSpot Grabs $30M In Series B Funding To Modernize Business Intelligence". TechCrunch. Archived from the original on August 21, 2016. Retrieved July 29, 2016.
  3. ^ a b "ThoughtSpot Inc". Bloomberg. Archived from the original on July 13, 2023. Retrieved October 6, 2022.
  4. ^ "Contact Us". ThoughtSpot. February 21, 2022. Archived from the original on February 20, 2022. Retrieved March 17, 2022.
  5. ^ "ThoughtSpot's $248M Haul Bolsters its Hand in Clash with Salesforce's Tableau". Forbes. September 7, 2018. Archived from the original on October 17, 2021. Retrieved March 31, 2022.
  6. ^ "ThoughtSpot". Forbes. Archived from the original on April 2, 2022. Retrieved March 31, 2022.
  7. ^ a b Roy, Rohit (May 20, 2016). "ThoughtSpot Announces $50M Series C Funding to Lead Search-Driven Analytics for the Enterprise". Martech Advisor. Archived from the original on September 24, 2016. Retrieved July 29, 2016.
  8. ^ Vanian, Jonathan (May 8, 2018). "Exclusive: ThoughtSpot Gets Huge Funding to Expand its Google-Like Search For Corporate Data". Fortune. Archived from the original on May 8, 2018. Retrieved May 8, 2018.
  9. ^ Gage, Deborah (February 5, 2014). "Former Googlers Create ThoughtSpot for Google-Like Enterprise Search". The Wall Street Journal. Archived from the original on August 13, 2016. Retrieved July 29, 2016.
  10. ^ Harris, Derrick (February 5, 2014). "Nutanix Co-Founder Launches ThoughtSpot, an Appliance for Analytics". Gigaom. Archived from the original on August 17, 2016. Retrieved July 29, 2016.
  11. ^ Shieber, Jonatha (May 19, 2016). "Investors Serve Up $50 Million for ThoughtSpot's Search Engine for Enterprise Data". TechCrunch. Archived from the original on August 21, 2016. Retrieved July 29, 2016.
  12. ^ Clancy, Heather (May 19, 2016). "Can This Startup Become the Corporate Version of Google?". Fortune. Archived from the original on July 27, 2016. Retrieved July 29, 2016.
  13. ^ "ThoughtSpot Expands Series C Funding With Hewlett Packard Pathfinder". Finsmes. October 17, 2016. Archived from the original on November 23, 2016. Retrieved November 22, 2016.
  14. ^ "ThoughtSpot Receives Series C Financing Round". Xconomy. October 18, 2016. Archived from the original on November 23, 2016. Retrieved November 22, 2016.
  15. ^ Swartz, Jon. "ThoughtSpot: A Unicorn With $145 Million in Funding". Archived from the original on May 8, 2018. Retrieved May 9, 2018.
  16. ^ "Exclusive: ThoughtSpot Gets Big Funding to Expand its Google-Like Search For Corporate Data". Fortune. Archived from the original on April 19, 2021. Retrieved March 9, 2021.
  17. ^ "ThoughtSpot Names Sudheesh Nair as CEO". WSJ. August 1, 2018. Archived from the original on March 31, 2022. Retrieved March 31, 2022.
  18. ^ Schubarth, Cromwell (March 13, 2019). "Fast-growing Palo Alto unicorn moves HQ to Sunnyvale". Biz Journals. Biz Journals. Archived from the original on October 29, 2020. Retrieved November 14, 2019.
  19. ^ "ThoughtSpot hauls in $248M Series E on $1.95B valuation". TechCrunch. Retrieved March 9, 2021.
  20. ^ "As 5 more startups join the $100M club, are we just making a pre-IPO list?". Archived from the original on 2023-04-02. Retrieved 2023-07-13.
  21. ^ Schubarth, Cromwell (January 21, 2021). "Sunnyvale analytics unicorn checks another pre-IPO box by hiring Square, PayPal vet as CFO". www.bizjournals.com. Archived from the original on March 21, 2023. Retrieved March 9, 2021.
  22. ^ a b Cai, Kenrick (November 15, 2021). "ThoughtSpot Raises At $4.2 Billion Valuation As It Wraps Up Transition To The Cloud". Forbes. Archived from the original on April 11, 2022. Retrieved April 11, 2022.
  23. ^ "Tech Mahindra partners with ThoughtSpot for AI driven analytics". The Economic Times. Archived from the original on March 10, 2021. Retrieved March 9, 2021.
  24. ^ Whiting, Rick (March 9, 2021). "Data Cloud Giant Snowflake Tightens Alliance With Analytics Developer ThoughtSpot With $20M Investment". CRN. Archived from the original on April 11, 2022. Retrieved April 11, 2022.
  25. ^ "ThoughtSpot makes first acquisition, buys SeekWell". SearchBusinessAnalytics. March 31, 2021. Archived from the original on April 11, 2022. Retrieved March 17, 2022.
  26. ^ "Acquisition by ThoughtSpot adds data integration capabilities". SearchBusinessAnalytics. May 5, 2021. Archived from the original on April 11, 2022. Retrieved April 11, 2022.
  27. ^ Wiggers, Kyle (2023-06-26). "ThoughtSpot acquires Mode Analytics, a BI platform, for $200M in cash and stock". TechCrunch. Retrieved 2023-07-24.
  28. ^ Novet, Jordan (June 18, 2014). "ThoughtSpot's Google-Style Search For Business Intelligence Finds $30M". VentureBeat. Archived from the original on October 19, 2016. Retrieved August 15, 2016.
  29. ^ "ThoughtSpot aims to enhance cloud-based analytics searches". TechTarget. June 22, 2020. Archived from the original on May 17, 2022. Retrieved March 18, 2022.
  30. ^ a b Arakali, Harichandan (January 23, 2023). "Inside ThoughtSpot's $150 million plan to expand in India". Forbes India. Retrieved November 24, 2025.
  31. ^ a b Avidon, Eric (January 15, 2025). "ThoughtSpot adds data preparation with Analyst Studio launch". TechTarget. Retrieved November 24, 2025.
  32. ^ Avidon, Eric. "ThoughtSpot 6 advances AI power of BI platform". TechTarget. Archived from the original on 2021-10-22. Retrieved 2023-07-13.
  33. ^ Avidon, Eric (November 16, 2021). "Latest ThoughtSpot BI capabilities target new personas". TechTarget. Archived from the original on March 31, 2022. Retrieved March 18, 2022.
  34. ^ Fregoni, Silvia; Gillin, Paul; Wheatley, Mike (September 23, 2021). "Building interactive data apps: Inside ThoughtSpot Everywhere's open developer-centric platform". SiliconANGLE. Archived from the original on March 4, 2022. Retrieved March 18, 2022.
  35. ^ "ThoughtSpot automates full platform with new Spotter agents". TechTarget. December 10, 2025. Retrieved June 23, 2026.
  36. ^ "ThoughtSpot Embedded update boosts agentic AI capabilities". TechTarget. September 10, 2025. Retrieved June 23, 2026.