September 17, 2020 - ThoughtSpot, international leader in search and AI-driven analytics, today announced the launch of its business operations in the Netherlands. Also it’s proud to announce the first enterprise customer in the region, T-Mobile.
The expansion to Amsterdam follows a year of record growth, including more than doubling revenue, being recognized as a Leader for the second consecutive year in the 2020 Gartner Magic Quadrant for Analytics and Business Intelligence Platforms1, and opening offices in Germany and France. The expansion into the Netherlands comes one year after the Silicon Valley company successfully raised $248 million in Series E funding, doubling its valuation to $1.95 billion, making it a so-called ‘Unicorn’. In the last year, the company has also tripled its bookings across EMEA year over year as enterprise adoption of ThoughtSpot has skyrocketed.
Get answers in seconds
With the ThoughtSpot AI-driven analytics platform, anyone can quickly and easily analyze billions of rows of data and get answers in seconds with a search as simple as in consumer applications. With SpotIQ, ThoughtSpot's AI engine, users can simply point to a topic, keyword or graph, and the system instantly generates the thousands of queries the user needs, but might not have thought about.
With multiple deployment options, businesses have flexibility to choose when and how they leverage their data for search and AI-driven analytics. Customers can use Embrace to query directly in popular data sources like Snowflake, Amazon Redshift, Microsoft Azure Synapse, Google BigQuery, and more, or use DataFlow to bring data directly into ThoughtSpot.
Building a more fact-driven world
“ThoughtSpot was founded with a simple, yet powerful goal in mind: to build a more fact-driven world. With the launch of our Dutch operations, we’re bringing this mission to another corner of the world,” said Sudheesh Nair, CEO of ThoughtSpot. “With so much changing in the technology and business climate, enterprises need a new way to arm their team with insights, whether on the frontlines of their business or in the boardroom. ThoughtSpot is at the forefront of powering this revolution.”
The European market has always been a critical piece of ThoughtSpot’s go to market strategy. It launched the London office shortly after it began selling in North America, and immediately saw interest from enterprises throughout Europe. With the expansion to the Netherlands, it will be able to accelerate growth in this region.
Nair: “Together with the UK, Germany and France, the Netherlands is considered to be one of the most promising markets for new and disruptive products and technologies based on Artificial Intelligence. There is a powerful start-up climate, especially in Fintech, driving a fast and growing acceptance and adoption of AI.”
“But this is still the beginning. Recent research by Harvard Business Review shows that while nearly 90% of organizations say success depends on Data-Driven Decisions made by ‘frontline employees, only 7% of organizations are now able to fully equip their teams with the analytic tools and resources needed to drive decision-making and autonomy.”
With the official start of its own operations in the Netherlands, ThoughtSpot is now also able to support its existing network of dedicated partners like Wipro, FlexAnalytics and Merkle. With the local presence of ThoughtSpot partners are better positioned to successfully sell, implement and support ThoughtSpot solutions in the region.
The world’s most innovative enterprises use ThoughtSpot to empower every person in their organization, from C-suite executive to frontline employee, with the ability to quickly uncover data-driven insights. With ThoughtSpot, business people can type a simple search to instantly analyze billions of rows of data, and leverage artificial intelligence to get trusted, relevant insights pushed to them as answers to thousands of questions they might not have thought to ask. ThoughtSpot is simple enough for any business person to use, yet powerful enough to handle even the largest, most complex enterprise data without sacrificing speed, security, or governance. That’s why customers like Walmart, Siemens, BT, Daimler, Medtronic, Hulu, Royal Bank of Canada, T-Mobile and Nationwide Building Society have turned to ThoughtSpot to transform their decision-making cultures. Analyst firm Gartner named ThoughtSpot a Leader in the 2020 Magic Quadrant. By making insights a part of every conversation and every decision, ThoughtSpot is reimagining the role of data in creating a more fact-driven world.
For more information, please visit www.thoughtspot.com.
1 Gartner [Magic Quadrant for Analytics and Business Intelligence Platforms], [James Richardson, Rita Sallam, Kurt Schlegel, Austin Kronz, Julian Sun], [11 February 2020]