An analytics startup, ThoughtSpot, has raised new funding worth $145 million for its online platform which is based in artificial intelligence.
A main search-focused service provided by the startup, SpotIQ, uses analytics to assist in answering questions for companies to assist in aspects of the business such as marketing, customer base and other similar needs.
“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,” Chief Executive of ThoughtSpot told Livemint. “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.”
ThoughtSpot was founded in 2012 by Abhishek Rai, Ajeet Singh, Amit Prakash, Priyendra Deshwal, Sanjay Agrawal, Shashank Gupta and Vijay Ganesan. While the startup has official headquarters in Palo Alto, California, they have offices set up in Bengaluru, and Japan as well.
According to a statement by the company, ThoughtSpot also has active centres set up for research and development purposes in Palo Alto, Bengaluru, Seattle and Dallas.
Investors in the newly raised Series D round include Lightspeed Ventures, Future Fund, Khosla Ventures, General Catalyst, and Sapphire Ventures.
The startup caters to a variety of businesses including Amway, Bed Bath & Beyond, Capital One, British Telecom, and Sterling National Bank. Funds from the Series D round will be used for different purposes including international expansion plans. The startup has now raised a total of $306 million.
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