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Intuitive BI Firm ThoughtSpot Raises $30m
Redwood City, CA-based ThoughtSpot has raised $30m in funding to grow its search-based business intelligence offering.
The Series B round was led by Khosla Ventures, whose partner Keith Rabois will join ThoughtSpot's Board of Directors; and funding also came from Aaron Levie, co-founder and CEO of Box, and from existing investor Lightspeed Venture Partners.
The firm says its Data Search Appliance product aims to 'address the broken business intelligence model in the enterprise'. Rabois, who brings leadership experience from Square, PayPal and LinkedIn, comments: 'As an executive, I've tested a broad array of data analysis products, but only ThoughtSpot is sufficiently intuitive that every employee can use it instantly without compromising at scale. With ThoughtSpot, all of your data can be understood by your employees, which will change the way businesses are managed.'
Ajeet Singh, co-founder and CEO of ThoughtSpot, comments: 'We are honored to receive the support of Khosla Ventures and have Keith join our board', while co-founder and CTO Amit Prakash says the firm is stepping up its recruitment drive: 'We are looking for the best engineers out there that are excited about building high-performance distributed systems, massively- parallel in-memory databases and surprisingly-simple but powerful user interfaces... This is a unique opportunity to bring a whole new stack to the data analysis space and take the businesses forward by 20 or 30 years.'
The company's home page is at www.thoughtspot.com .
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