Will double headcount by 2019 end to capitalize on global demand for transformative analytics capabilities
ThoughtSpot recently raised $145 million in new funding and reported 180 percent growth in revenue
Bengaluru. October 24, 2018 – ThoughtSpot, the leader in search and AI-driven analytics for the enterprise, announced today plans to expand its business operations in India in 2019. As part of these plans, ThoughtSpot will double headcount in its Bangalore office to over 100 employees to innovate the company’s artificial intelligence and machine learning capabilities. ThoughtSpot will also grow its world class ecosystem to include new partners with specific knowledge of the Indian market.
“ThoughtSpot continues to innovate at a breakneck pace to redefine what’s possible with data, and by expanding our operations in India, we’ll be able to tap into the exceptional talent in the region,” said Ajeet Singh, cofounder and Executive Chairman, ThoughtSpot. “As we build new machine learning and artificial intelligence capabilities into our platform to make analytics even more accessible and powerful for modern enterprises, our growing team in India will play a critical role in bringing this innovation to market.”
The past year has been marked by impressive growth for ThoughtSpot, including raising $145M in new funding and record sales. In 2019, ThoughtSpot will continue this growth, and expand sales operations in the region, including partnering with large Indian system integrators, to help Indian organizations in verticals like retail, BFSI, government, and healthcare turn big data into meaningful insights.
“In a short span of time, ThoughtSpot has fundamentally disrupted the analytics market by empowering business users to answer their own data questions simply and instantly, without sacrificing the scale, security, or governance requirements of today’s CIO” added Singh. “As we continue build ThoughtSpot into a lasting, sustainable business, a strong alliance of partners will be essential if we truly want to help solve the data challenges facing global enterprises.”
The $203 billion data and analytics industry is at an inflection point. While the industry has historically catered to technical users in the enterprise, there’s been a simultaneous explosion of knowledge workers who require data and insights to do their job. Traditional data teams, often hindered by legacy solutions, are unable to meet this growing demand, let alone take on highly strategic data projects. ThoughtSpot has taken a radically different approach to solving this problem, putting the power of 1000 analysts into the hands of non-technical business people without requiring any special training. Businesspeople can use ThoughtSpot’s simple search-driven analytics to answer the questions they know to ask, while its AI-driven analytics engine, SpotIQ, automatically answers thousands of questions a businessperson would care about but wouldn’t even know to ask. Data professionals, freed from generating innumerable reports and tweaking countless charts, can focus on the analytics initiatives critical to their organization’s long-term success. Unlike other artificial intelligence solutions, SpotIQ is completely transparent, meaning no decisions or analyses are conducted in a black box, fostering trust and driving adoption by end users.
ThoughtSpot, the leader in search & AI-driven analytics for the enterprise, is helping the largest companies in the world succeed in the digital era by putting the power of a thousand analysts in every business person's hands. With ThoughtSpot’s next-generation analytics platform, business people can use Google-like search to easily analyze complex, large-scale enterprise data and get trusted insights to questions they didn’t know to ask, automatically - all with a single click. ThoughtSpot connects with any on-premise, cloud, big data, or desktop data source, deploying 85 percent faster than legacy technologies. Customers like Amway, Bed Bath and Beyond, BT, Celebrity Cruises, Chevron Federal Credit Union, De Beers, PetCo and Scotiabank have put ThoughtSpot at the core of their business processes. With ThoughtSpot, business leaders and frontline workers alike have made more than 3 million data informed decisions per year.
ThoughtSpot was co-founded in 2012 by Ajeet Singh, former co-founder and Chief Product Officer at Nutanix, the largest tech IPO of 2016, and is currently led by CEO Sudheesh Nair. With a founding team coming from Google, Amazon, and Facebook, ThoughtSpot has raised over $300M in funding from Lightspeed Venture Partners, Khosla Ventures, General Catalyst Partners, Sapphire Ventures, Geodesic Capital, and Capital One Growth Ventures. The company is headquartered in Palo Alto, with offices in Seattle, London, and Bangalore. For more information please visit www.thoughtspot.com.
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