California-based technology company ThoughtSpot which offers search and AI-based data analytics to the enterprises has raised $145 million in their Series D round funding. The funding round saw participation from their existing investors like Lightspeed Ventures, Future Fund, Khosla Ventures, and General Catalyst. The existing investors were joined by new backers which includes Sapphire Ventures.
The fresh capital takes the total raised money by the company ever since it arrived at the scene to $306 million funding.
The firm plans to use the freshly infused money in upgrading the analytics platform. It also wants to expand the reach of the company globally as it targets the EMEA and APAC markets. One of the other targets through the fresh capital is to invest in research and analysis at Palo Alto, Seattle, Dallas, and Bangalore centers.
“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. We see a world where analytics platform serves up insights to you before you can even articulate a question. 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.”
Ravi Mhatre, Partner, Lightspeed Venture Partners talking about the capital infusion in the analytics firm said that “The analytics market has evolved to a point where it has become a business imperative for employees at all levels, and across all departments in an organization to have access to trusted insights to make data-driven decisions.”
Notably, Fortune 100 companies and other global MNCs like Amway, Bed Bath & Beyond, Capital One, British Telecom and Sterling National Bank are few of the top brands the customers say it works with.
Image Courtesy : ThoughtSpot