ThoughtSpot, Inc. is an American technology company that specializes in the production of search software for business analytics. It is a leader in business intelligence based applications and the company has come a long way in a short period of time. If you're looking for an up and coming startup that has prospects for a bright future then this may be a company worthy of consideration. To help you become better acquainted with them, here are 20 things that you probably didn't know about ThoughtSpot.
1. The company is less than a decade old
ThoughtSpot, Inc. was founded in 2012 and it is currently headquartered in Sunnyvale, California. This business has only been in operation for 7 years and it has achieved a great deal of success. It has grown to become one of the leading producers of business intelligence technology in the world.
2. The founders of ThoughtSpot have impressive track records
The founders of ThoughtSpot all have experience working as engineers for some of the larger successful companies in the tech industry. Ajeet Sing is a co-founder and the present CEO of ThoughtSpot, and he is also co-founder of Nutanix. Other members of the founding team worked for Google, Yahoo, Microsoft, Oracle, and other companies that started in Silicon Valley.
3. ThoughtSpot has gone international
ThoughtSpot started with an office in Sunnyvale, California but it quickly expanded to other cities in the United States. The business has also crossed international borders to extend into other countries throughout the world. So far, ThoughtSpot has offices set up in Seattle, Washington, Bangalore, India, London, and Tokyo.
4. This business provides user-friendly products
The technology that powers the software that ThoughtSpot provides is extremely technical, but end-users don't need to concern themselves with this. The programs are made to be simple and easy for anyone to use and there is no need to have a background in technology to use the features. The software allows users to do a self-service data analysis search.
5. ThoughtSpot has received accolades
Within just four years of being in business, ThoughtSpot was already receiving positive recognition for its products. Gartner named it as a "Cool Vendor in Analytics" in 2016. The following year it was included on Gartner's Magic Quadrant for Business Intelligence and Analytics Platforms report. Red Herring also named ThoughtSpot to its 2017 Top 100 North American Companies list which is a positive distinction.
6. ThoughtSpot has some large clients
ThoughtSpot's brilliant business analytics software is useful for companies that are needed to assess current progress in specific areas and to obtain detailed data on performance. Some of the larger corporations use their products. These include Hightail, Bed, Bath& Beyond, Apple, BT, Walmart, and others. The software programs that are offered by ThoughtSpot are useful for businesses of all sizes from very small to very large.
7. ThoughtSpot is expanding its operations
We looked at the LinkedIn page for Thoughtspot to learn more about the company. We were a bit surprised to learn that the company has posted several new openings within the company. While it's not unusual to see a few dozen listings, there were a total of 109 jobs available on the site. This shows that ThoughtSpot is making a massive expansion of its operations. This is a sizable workforce in addition to the crew that is already on board and it points to something bigger that is planned.
8. ThoughtSpot has multiple specialties
According to the LinkedIn page, Thoughtspot is a company that offers multiple specialties. When we saw the capabilities that are listed for the software we were amazed. The business intelligence and analytics software provide a host of useful services for those in the business environment. It uses artificial intelligence technology as well as data discovery, data modeling, dashboards, reporting, data governance, and big data analytics.
9. ThoughtSpot employs 561 workers
Not counting the 109 new jobs that are listed for new hires at ThoughtSpot, there are 561 people working for this company. We looked at the breakdown and discovered that the majority are found in San Francisco, California in the Bay Area with 209 at this location, 20 in New York City, 34 in Dallas, Texas, 9 in Philadelphia, Pennsylvania, 15 in Seattle, Washington, 11 in Washington DC and a total of 375 in the USA. Internationally, there are a total of 40 in the United Kingdom with 20 of these staffers in London, England. there are 77 in Bengaluru, India, with a total of 98 in India as a whole. There are 6 staffers in Melbourne, Australia with 9 total in Australia, 8 in Germany, and 6 in Canada.
10. Most employees are college-educated
ThoughtSpot is a leader in providing data and analytics and they offer an example of the kind of information that is available by posting their own relevant data about workers. We saw the breakdown of the education information for their employees. Many of them were educated at the University of California, Berkely, with some at Stanford Unversity, the University of Texas at Austin, San Jose State University, Santa Clara University the University of California, Berkeley, Haas School of Business, UCLA, Georgia Institute of Technology, and the University of Illinois. Many others are listed as alumni of prominent schools in India. This gives us an idea of the way that data may be obtained and used to generate lists and reports for the business. This can come in handy for strategic planning and estimating efficiency in key areas as well as discovering where some of the deficits are happening within the operation of a business.
11. ThoughtSpot is a privately held company
So far, ThoughtSpot has not filed for an Initial Public Offering for public trading on the stock market. It is privately held and fully backed by venture capital funding. We have heard rumors that the executive leadership had been eying an IPO but this is not a decision that has been announced. Most companies only go public when there is a need to generate funds for growth and expansion. Although there is no stock being offered publicly yet, there is a chance that this may change in the future so it's worth keeping your eye on the news to keep on top of any new announcements in this area.
12. ThoughtSpot is a late-stage VC company
ThoughtSpot's most recent round of venture capital funding was its E Series. It received startup funding on June 1, 2012, in the amount of $10.7 million for Series A funding. This was followed by a round of Series B funding on June 18, 2014, that raised an additional $30 million. As it entered the later stage VC classification, on October 17, 2016, a Series C round of funding closed then a C1 round in August of 2017, a Series D round in May of 2018, another in October of 2018, and a Series E round on August 28, 2019, in the amount of $248 Million.
13. ThoughtSpot achieved unicorn status
After the latest round of venture capital funding raised $248 million more, it pushed ThoughtSpot over the threshold. The company is now valued at an estimated $1.9 billion in valuation. Companies join an elite group that are referred to as unicorn companies. When a business reaches the one-billion-dollar mark it is eligible for inclusion in this successful classification.
14. ThoughtSpot is strongly backed by large VC firms
ThoughtSpot has so far received a total of $554 million in funds that have been raised by venture capital firms. Although there are multiple investors in the company, some of the larger ones include Silver Lake Waterman, Lightspeed Venture Partners, Geodesic Capital, and Sapphire Ventures among others. Although there have only been rumors about filing an IPO, it is clear that ThoughtSpot has generous financial backing and support by these firms, which usually reduces the likelihood of an IPO. Multiple sources have quoted the leadership as indicating that this is an action that has been taken under consideration and this is something that could happen as soon as 2021 according to the leadership.
15. Products are available in a variety of formats
ThoughtSpot business intelligence analytics software has been made available on a variety of platforms. It is available for PCs as well as in the form of a mobile application. This makes it easy to use on whatever device you have handy. In addition to being available in multiple formats, it is also software that can benefit most staff members of an organization. It makes data searches faster and easier bringing back more precise results. This cuts down on the amount of time that is spent sifting through websites that do not offer the kind of information that is desired. The greater precision is because of the infusion of artificial intelligence.
16. ThoughtSpot is featured as an informational website to enhance the use of its products
We learned that there is a website that is called Bright Talk that offers a host of information resources when it comes to maximizing the benefits of ThoughtSpot software. Through the site, you can connect to communities, sign up to attend summits, obtain updates on search-driven analytics, and more. All you need to do is click on a link and you will be taken to a talk that goes over the ins and outs of getting the most out of the software with tips on how to maximize its value and effectiveness.
17. ThoughtSpot's executive team is known as the "Lucky Seven"
The group of executives who are in charge of the direction for ThoughtSpot brings a host of knowledge and experience individually. When you combine these leaders together it is a winning combination. They include the former head of finance and strategy at Square, Mohit Daswani as CFO of ThoughtSpot, Bob Baxley from Apple as the Senior Vice President of Design and Experience, Sumeet Aurora as SVP of Engineering from Cisco, Dianne, Decena VP of Partners and Alliances, Americas from Zylo, Ajeet Singh, founder, CEO and executive chairman, Seann Gardiner VP of Corporate Development, from Tableau Software, and Seong Park EVP, formerly of MongoDB. ThoughtSpot is led by a true power team.
18. ThoughtSpot is just getting started
According to Singh, ThoughtSpot is a company that has only just begun in a market that has a lot of room for growth and expansion. The company is loaded with financial resources and he shared that it has only done about two percent of what he anticipates it is capable of in the years to come. Analytics has become a necessity for business and the demand for the services that ThoughtSpot provides is only going to increase. Technology will continue to expand and the needs of businesses will change and evolve as well.
19. ThoughtSpot serves a broad range of industries
Most companies depend upon analytics with discreet data to make important decisions. This is especially true of larger organizations. It's a fact that exists throughout all of the industries represented in the collective market and that means that there is still a host of clients that remain to be harvested.
20. ThoughtSpot is a company to keep your eye on
If you are a potential investor then it's a good idea to keep your eye on ThoughtSpot over the next year or so. From the indications made by executives of the company, there has been a lot of consideration given to the notion of filing for an IPO and following through. When it does go public, common stock will be made available for sale and public trading. This is a company that has a high potential for becoming a wise investment in a long-term portfolio for retirement income. This is one that bears watching because it may not be that far in the future.
Written by Allen Lee
Read more posts by Allen Lee