PARIS, France. — March 3, 2020 — ThoughtSpot, the leader in search and AI-driven analytics, today announced the launch of its business in France with the opening of its office in Paris. This 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 hiring a series of new executive leaders.
ThoughtSpot's new French team based in Paris is overseen by Spencer Tuttle, VP, ThoughtSpot EMEA, and consists of:
Benjamin Caller, EMEA Alliance Leader, & Regional Vice President
Louis Mercier, Partner Sales Manager, Southern Europe - France
Martial Coiffe, Senior Sales Account Executive
Vincent Dolisi, Senior Sales Account Executive
Alexandre Picard, Sales Engineer.
With the ThoughtSpot 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 to do.
Reactions from Leadership
“ThoughtSpot was founded with a simple, yet powerful goal in mind: to build a more fact-driven world. With the launch of our French office, we’re bringing this mission to another corner of the world,” said Ajeet Singh, Cofounder & Executive Chairman, ThoughtSpot. “With so much changing in the technology and business climate, it’s an exciting time to be in the world of analytics. Enterprises need a new way to arm their team with insights and ThoughtSpot is at the forefront of powering this revolution. But this is still the beginning. We’re only 2% done and are committed to continuing to advance this important cause.”
“The European market has always been a critical piece of ThoughtSpot’s go to market strategy. We launched our first office in London shortly after we began selling in North America, and immediately began seeing interest from enterprises throughout Europe,” said Spencer Tuttle, VP EMEA, ThoughtSpot. “With the expansion into France with our Paris office, we’ll be able to accelerate our growth in the region as we help French enterprises leverage their data more effectively as they seek to transform.”
ThoughtSpot's arrival in France coincides with its recent recognition in Gartner's Magic Quadrant. This crowns the company’s record year of growth, which notably included raising $248 million in Series E financing at a nearly $2B valuation last August.
The company has also just closed its 2020 fiscal year on January 31 with solid growth indicators:
A revenue milestone: The company’s annual run-rate exceeded US$100 million.
Exceptional customer adoption: ThoughtSpot recorded that the average cost of its customers' first projects was $300K. Customers such as Walmart, Fannie Mae, Exxon, Verizon, Hulu, Daimler, Bank of the West, Royal Bank of Scotland, and British Telecom have completely redesigned their business intelligence culture with ThoughtSpot.
Bigger and bigger projects: The unicorn's appeal to large corporations reached unprecedented levels in 2020 with average project costs exceeding $700K. Last year ThoughtSpot signed nearly 20 contracts with 7-figure amounts, including one of the largest analytics projects ever signed. ThoughtSpot's client portfolio now includes at least one member of the world's Top 5 in the retail, financial, telecommunications, technology and oil and gas industries.
The world’s most innovative enterprises use ThoughtSpot to empower every person in their organization, from C-suite executive to front-line 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, 7-11, BT, Daimler, Exxon, Hulu, Royal Bank of Canada, Bank of the West, and Nationwide Building Society have turned to ThoughtSpot to transform their decision-making cultures and 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]
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