Funds for Business Data Firm ThoughtSpot

Business data analytics specialist ThoughtSpot has raised $60m in a funding round extension, which it will use to further develop its artificial intelligence-driven analytics platform and expand globally into Asia Pacific.

Founded in 2012, Palo Alto, California-based ThoughtSpot provides a rational search engine for data analytics. This offers a search bar, through which users can type in a question and then receive charts, graphs, and maps visualizing enterprise data such as customer demographics. The firm has also launched an artificial intelligence product called SpotIQ, which can make assumptions about what a user wants to know, based on their profile and previous search terms. According to the firm, with a single click, SpotIQ can automatically ask thousands of questions about billions of data points and bring back dozens of insights in seconds.

ThoughtSpot's latest funding has been led by Lightspeed Venture Partners, and brings the total raised to date to more than $160m. CEO and co-founder Ajeet Singh (pictured) comments: 'One-by-one, enterprises are falling in love with ThoughtSpot, because we make it effortless for non-technical business people to gain valuable insights from corporate data in seconds. Our mission is to deliver data insights at human-scale and SpotIQ is a massive leap forward. It puts the power of a thousand data analysts in the hands of every business person'.

Web site: www.thoughtspot.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.