ThoughtSpot recently announced that it has closed $145 million in new venture capital. The round, which featured both new and existing partners, will allow the company to expand in the EMEA and APAC and continue to invest in its search-driven BI and analytics tools. This funding round brings ThoughtSpot’s total amount earned to $306 million since its founding in 2012.
ThoughtSpot offers an artificial intelligence-driven analytics platform that features what the company dubs ‘the world’s first’ relational search engine. The tool combines relational search with a custom-built, in-memory relational data cache to speed up queries that are run over many lines of data. The tool connects with any on-prem, cloud, big data, or desktop data source.
Some of the top companies in the world use ThoughtSpot’s data analytics tools, including three of the Fortune 5 and twelve of the Fortune 100. The company opened new offices in Japan and India in 2017 while also adapting its software to support new language localizations. ThoughtSpot also grew its revenue by 180 percent in the fourth quarter.
In a press statement, the company’s CEO Ajeet Singh said: “In the few short years since founding ThoughtSpot, we have disrupted the analytics market and seen global enterprises adopt our search and AI-driven analytics due to its simplicity for business people and enterprise-grade scale and governance for today’s CIOs and CDOs. With the new funding, we’ll continue to push the boundaries of what’s possible with self-service analytics for our customers, partners, and the industry at large.”
In October ThoughtSpot unveiled SpotIQ, an analytics engine that works hand-in-hand with relational search to curate data analysis by asking questions about large data volumes. More recently, ThoughtSpot was included in the annual CRN Big Data 100 list along with many of the largest technology companies in the world. If that’s not impressive enough, the company was named a visionary in Gartner’s 2018 Magic Quadrant for Analytics and Business Intelligence Platforms, making perhaps the biggest leap of any provider in the space.
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