ThoughtSpot hauls in $248M Series E on $1.95B valuation

Palo Alto headquartered enterprise Big Data Analytics startup ThoughtSpot, started by a bunch of ex-Googlers looking to bring the power of search to enterprise data, closed its Series E round with $248 million at a $1.95 Billion post money valuation led by existing investor Lightspeed Ventures and joined by other backers Sapphire Ventures, Geodesic Capital alongside new bay area late stage VC Silverlake Waterman.

This new valuation almost doubles the last round valuation in May 2018 when it breached the $1Billion mark to become a new Unicorn.

Thoughtspot CEO says this raise is probably their last raise before IPO, possibly in the next 2 year.

The raise leaves Thoughtspot with over $300m in cash. The company has raised nearly $550m in aggregate funding this far.

Touted as the Google of Enterprise Search and Analytics, Thoughtspot compiles natural language processing (NLP) with Ai to create algorithms that revolutionise enterprise search and intelligence.

ThoughtSpot boasts a customer base comprising of Walmart, Rolls Royce, Daimler, 7-Eleven, Amway, Bed Bath and Beyond, BT, Celebrity Cruises, Chevron Federal Credit Union, De Beers, PetCo Scotiabank etc. among others

According to reports Thoughtspot sales grew 195% in the latest year and has by now reached a run rate exceeding $100m.

Earlier this year ThoughSpot joined the coveted Gartner Magic Quadrant for Analytics and BI Platforms and is ranked 61 in Forbes Cloud100 list.

ThoughtSpot is the latest amongst Decacorn Capital’s list of Unicorns (>1B)and Decacorns(>10B) in its portfolio of 19 live startups spread across USA, Israel and Asia.

Link to Forbes Article