ThoughtSpot Announces Record 810 Percent Year-Over-Year Growth


World’s First Search-Driven Analytics Solution Proves Itself in Fortune 500
Leaders in Every Industry Empower Rank-and-File with Natural Language Search to Analyze Data
Opens First International Office and Appoints Key Executives to Accelerate Market Penetration

Palo Alto, Calif., February 23, 2016 – ThoughtSpot, the search-driven analytics company, today announced it exceeded growth targets for 2015 with more than 810 percent year-over-year increase in sales. Legacy BI vendors are losing ground as customers shift their technology budgets toward new modern BI platforms focused on making analytics easier for business people - and not just IT. Leading Fortune 500 brands in retail, financial services, telecom and healthcare are turning to ThoughtSpot’s natural language search interface to make it easier for rank and file employees to quickly analyze their company data. ThoughtSpot’s machine learning technology draws on the collective intelligence within an organization to help non-technical business people build their own reports and dashboards in seconds.

“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 Ajeet Singh, CEO of ThoughtSpot. “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. This year we surpassed one million searches on the ThoughtSpot platform, validating our vision that analytics can be valuable and usable for all employees - without complex degrees or multi-day training classes.”

Customer & Sales Growth
Increased sales and returning customers accelerated ThoughtSpot’s growth in 2015. Key milestones included:

  • Increased sales over 810 percent, including ThoughtSpot’s first six-figure international customer.
  • Fast growing list of customers, including leading brands in retail, financial services, and high tech, including Batteries Plus Bulbs, HighTail, Collegis Education, Primary Capital Mortgage, and RichRelevance.
  • Secured first $1M customer, and doubled ThoughtSpot’s average deal size across all verticals.
  • Increased user adoption within existing customers, leading to 25 percent of customers making repeat purchases within one year.
  • Broadened partner support program and launched new partnerships with Informatica, Keyrus, Knowledgent, Collegis Education, Trace3 and RichRelevance. ThoughtSpot’s new partnership with BITanium is expanding international reach into South Africa.

Product Momentum
ThoughtSpot recently launched ThoughtSpot 3 bringing more than 200 new product features across search, analytics and visualization to customers across the globe. ThoughtSpot 3 included the launch of the business intelligence industry’s first DataRank algorithm designed to make it faster and easier to analyze data through a guided natural language search interface. DataRank uses machine learning algorithms to sort and present data recommendations as you type, guiding you to the right data based on data properties and the collective intelligence in your company.

Company Expansion
To further accelerate growth, ThoughtSpot appointed several new executives in 2015.

  • Tim Miller now leads as Vice President of Worldwide Sales. Miller was previously the Vice President of Sales at Datameer.
  • Scott Holden now leads as CMO, joining from his prior role as Vice President of Marketing for the Salesforce1 Platform at Salesforce.com.
  • Steve Williams joins as Vice President of North American Sales. Prior to joining Williams ran sales teams for Cloudera, Netezza and MicroStrategy.
  • Alonzo Canada joins as Vice President of Experience. Canada was previously Head of Design for Interana, a partner at Jump Associates, a design consulting firm, and a guest lecturer at Stanford University’s esteemed d.school.
  • Martin Gaffney joins as the Head of EMEA Sales. Gaffney was previously at IBM Netezza where he built-out their first EMEA operations and later led industry verticals in EMEA.

Global Expansion
In addition to its Silicon Valley headquarters, ThoughtSpot added an office in the United Kingdom. Demand for ThoughtSpot in EMEA has been strong, which led to the opening of its first international office. Martin Gaffney will run the new ThoughtSpot London office.

Awards and Accolades
ThoughtSpot has earned industry accolades and honors this past year including: Fortune Great Places to Work 2015, San Francisco Business Journal Best Places to Work in the Bay Area 2015 Finalist and the International Academy of Digital Arts and Sciences “Webby Awards” 2015 Honoree for Websites: Corporate Communications

About ThoughtSpot
ThoughtSpot is disrupting the BI industry with search-driven analytics built for the enterprise. Anyone can use ThoughtSpot with zero training to ask questions, analyze company data, and build reports and dashboards - all in seconds. ThoughtSpot combines data from on-premise, desktop and cloud sources, and Hadoop, scales to billions of rows, and deploys in hours. The days of waiting for reports and dashboards are over. The company's founding team has previously built market-defining search and analytics technologies at Google, Amazon, Oracle and Microsoft. For more information please visit thoughtspot.com. Follow us on Twitter at @thoughtspot and LinkedIn at linkedin.com/company/thoughtspot

Contact:
Eastwick
Jesse Hamlin
Phone: 415-820-4173
Email: [email protected]