Thoughtspot Ponders Meaning of $100 Million Series F

<p><strong>SUNNYVALE<&sol;strong> &&num;8212&semi; ThoughtSpot&comma; a Modern Analytics Cloud company&comma; has raised a &dollar;100 million Series F funding round at a new &dollar;4&period;2B valuation&comma; more than doubling the company’s previous valuation and bringing the company’s total funding to &dollar;674 million&period; The round was led by new investor March Capital and joined by existing investors Lightspeed Ventures&comma; Snowflake Ventures&comma; Khosla Ventures&comma; Fidelity&comma; Capital One Ventures&comma; General Catalyst&comma; Sapphire Ventures&comma; and GIC&period;<&sol;p>&NewLine;<p>As ThoughtSpot eyes new growth vectors and focuses on capabilities for developers and data professionals&comma; the company also announced the launch of the new ThoughtSpot Data Workspace&comma; a set of tools that brings Live Analytics to customers around the globe&period;<&sol;p>&NewLine;<p><b>Reaping the rewards of the cloud<&sol;b><&sol;p>&NewLine;<p>The new round comes two years after the company’s Series E&comma; where the company raised &dollar;248 million at a &dollar;1&period;95 billion valuation&period; Since then&comma; ThoughtSpot says it has grown efficiently&comma; with more than &dollar;200 million in the bank prior to this funding round&period; In 2020&comma; the company made a strategic decision to transform into a cloud-first company&period; In the fall of last year&comma; ThoughtSpot launched its first SaaS offering with the introduction of the Modern Analytics Cloud&comma; the most simple&comma; open and programmable consumption layer for the modern data stack&period; Since then&comma; the analytics ecosystem has undergone a massive shift as companies not only move their data to the cloud&comma; but replatform their entire data stack&period; This modern data stack is creating trillions of dollars in value for companies&comma; and building multiple billion dollar businesses in the process&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Before ThoughtSpot&comma; we didn’t have a simple way to leverage our cloud data&comma;” said Vivek Malhotra&comma; Sr&period; Manager&comma; Customer Development Analytics&comma; Unilever&period; &OpenCurlyDoubleQuote;Now our finance team can quickly get actionable insights with the scale and speed we need&period;”<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;One of the most challenging and most rewarding parts of being a CEO is helping a company stay focused ahead of the changing needs of its customers&period; That’s exactly what ThoughtSpot has done over the last year as we accelerated our growth as a cloud company&comma;” said Sudheesh Nair&comma; CEO&comma; ThoughtSpot&period; &OpenCurlyDoubleQuote;Our customers rely on us to break free from the tyranny of averages as they build their businesses on data&period; Today’s funding shows just how valuable the work we do with our customers truly has become&period;”<&sol;p>&NewLine;