Modern Analytics Cloud company, ThoughtSpot announced that it has raised a $100 million Series F funding round at a new $4.2B valuation. With the round, the company managed to more than double its previous valuation, bringing its total funding to $674 million. The funding round was led by new investor March Capital and joined by existing investors Lightspeed Ventures, Snowflake Ventures, Khosla Ventures, Fidelity, Capital One Ventures, General Catalyst, Sapphire Ventures, and GIC.
$674 total funding
The Series F funding round comes two years after its Series E, where the company raised $248 million. ThoughtSpot launched the company’s first SaaS offering along with the introduction of the Modern Analytics Cloud in the fall of last year. It is a simple, open, and programmable consumption layer for the modern data stack.
ThoughtSpot’s developer platform, ThoughtSpot Everywhere, allows organizations to embed analytics into the apps to benefit from various ThoughtSpot cloud services through simple and flexible APIs. It also enables organizations to look for new use cases and new methods to accelerate time to value for analytics initiatives. Sudheesh Nair, CEO of ThoughtSpot said,
«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. That’s exactly what ThoughtSpot has done over the last year as we accelerated our growth as a cloud company. Our customers rely on us to break free from the tyranny of averages as they build their businesses on data. Today’s funding shows just how valuable the work we do with our customers truly has become.»