Business Intelligence Buyer's Guide

ThoughtSpot Drops New Data Workspace Feature; Nabs $100M Funding

ThoughtSpot Drops New Data Workspace Feature; Nabs $100M Funding
ThoughtSpot Drops New Data Workspace Feature; Nabs $100M Funding

Source: ThoughtSpot

ThoughtSpot recently announced the launch of ThoughtSpot Data Workspace with advanced features designed to help users build and operationalize live analytics. The company also raised $100 million in Series F funding on the same day. The venture capital doubles the company’s previous valuation and brings its total funding to nearly $675 million. The new funding will be used to accelerate two new growth vectors for ThoughtSpot with analysts, data engineers, and developers, and comes in advance of the company’s annual Beyond 2021 user conference which starts tomorrow.

Our Buyer’s Guide for Analytics and Business Intelligence Platforms helps you evaluate the best solution for your use case and features profiles of the leading providers, as well as a category overview of the marketplace.

ThoughtSpot’s analytics platform is heavily influenced by artificial intelligence and automation. While it may seem complex, ease of use is actually a strength of the product. It features a full-stack architecture and intuitive insight generation capabilities via the in-memory calculation engine. A distributed cluster manager provides customizable scaling options, and support for existing ETL solutions ensures proper connectivity to desired data sources.

The ThoughtSpot Data Workspace is specifically designed to empower users to put their data to work and operate more efficiently. By streamlining this technical work, data teams are able to boost productivity, while dramatically hastening the development and delivery of new analytics projects. ThoughtSpace Data Workspace enables direct connection to cloud platforms, the ability to launch new data apps directly, model data with custom SQL or new dbt integration, and operationalize analytics to create a closed data loop.

ThoughtSpot also unveiled SpotApps, fully integrated applications that allow analysts and developers to launch analytics projects for the most common SaaS applications quickly. ThoughtSpot Blocks are built on the ThoughtSpot Modeling Language (TML). TML can handle even the most complex data, such as multi-fact table joins like chasm and fan traps, giving analysts and developers a modeling layer to solve for live analytics.

In a media statement on the news, ThoughtSpot co-founder and Executive Chairman Ajeet Singh said: “Today’s cloud data platforms are capable of delivering dynamic analytical capabilities that were not possible with traditional data warehouses and data lakes. Historically, this meant many of these professionals were limited to building static dashboards and performing ETL jobs. With ThoughtSpot, however, they can dramatically increase their impact on the business with our new ThoughtSpot Data Workspace, TML, Seekwell, and ThoughtSpot Everywhere.”

Read Introducing Live Analytics for your modern data stack or The road less traveled on the path to our $4.2B valuation in the company’s blog to learn more.

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