NEWS30 August 2019

ThoughtSpot secures $248m in investment

AI Data analytics Financials News North America Technology

US – Business intelligence startup ThoughtSpot has raised $248m in funding at a valuation of $1.95bn.

Founded in 2012, the company’s platform allows businesses to type in a natural language query, similar to how they would use Google search – for example, ‘which stores are selling the most?’ ­– and quickly obtain answers from their data.

In addition to surfacing answers to questions, the system also uses artificial intelligence and machine learning to offer insights the user may not have asked about.

Silver Lake Waterman, Silver Lake’s late-stage growth capital fund, joined existing investors Lightspeed Venture Partners, Sapphire Ventures, and Geodesic Capital in the latest round of funding. 

The investment brings the company’s total funding to date to $554m. It will use the backing to continue investing in its teams in North America, EMEA and APAC, and expand its R&D, including hiring within its engineering and product teams. 

Headquartered in San Francisco Bay Area with an office in London, ThoughtSpot’s customers include Walmart, 7-11 and BT.