ThoughtSpot Brings Total Capital Investment to Over $90 Million with Series C Funding

Destiny A. Lopez  |

Even in the age of information where technology has made it possible for the average consumer to find the answer to, almost, any question they may have, businesses still face challenges when it comes to finding answers within their own company data. Data analysts are, therefore, hired in order to translate numbers, spreadsheets, and various reports into plain English. As one could imagine, the job can be time consuming, laborious, and, in some cases, daunting. ThoughtSpot, a business intelligence company, aims to make data hurdles a thing of the past by utilizing one of the most innovative, yet simple tools found in the tech space: a search engine.

Formerly Scaligent Inc, ThoughtSpot is working to make it possible for any business person to easily garner the same results at a fraction of the time and cost of a data analyst. Simply put, the company offers, as described on its official website, “the world’s first rational search engine.”

The company’s search-driven analytics platform has captured the attention of the tech and business worlds. Its growing client list, which includes leading retail, finance and high tech companies, have also made investors take notice. With recent interest from General Catalyst Partners and Geodesic Capital, ThoughtSpot announced a $50 million investment earlier this month.

“The business intelligence market is ripe for a 100-1000x leap forward in the speed of data access,” said Ajeet Singh, co-founder and CEO of ThoughtSpot. “The businesses of the future will not wait days or weeks for reports to be built. And the analytics teams of the future will no longer be report factories. We create a win-win scenario for both groups - business people get data instantly to make decisions, while analytics teams can focus on more advanced analyses. Customers and the investment community are both responding handsomely to support this industry transformation.”

Currently, the company has raised over $90 million in capital.

As it turns out, consumers and businesses gravitate towards technologies that make their lives easier. ThoughtSpot opened 2016 with the impressive operational milestone.of an 810% increase in sales this past February. “In the past twelve months, ThoughtSpot has made major advancements in our search-driven analytics technology, rapidly added new customers, and filled an unmet need in the market for easy-to-use business intelligence,” said Singh. “Our customers have seen tremendous value in placing the power of true self-service analytics into the hands of all their business users. We have finally made it easy for any business person to be their own data analyst.”

There are many facets to successfully running and maintaining a business. However, it’s all about the numbers. Sales figures, operational costs, performance metrics, and so on, reveal what is, ultimately, working and not working. Thanks to ThoughtSpot, the answers that companies are looking for are a simple search away.

For more information about ThoughtSpot, visit www.thoughtspot.com.

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