How Much Did ThoughtSpot Raise? Funding & Key Investors

ThoughtSpot has successfully raised funding over 12 rounds, with the latest being a Secondary Market round. The company is backed by 34 investors, including recent ones like 2Shares and IPOSharks.

Keep reading to explore the intricacies of ThoughtSpot's fundraising journey and the investors backing this innovative platform.

What Is ThoughtSpot?

ThoughtSpot is an AI-native intelligence platform headquartered in Mountain View, California. The company operates in various industries, including analytics, artificial intelligence, big data, business intelligence, machine learning, and SaaS.

Founded with the mission to create a fact-driven world through data, ThoughtSpot has grown to employ between 501 and 1000 people. The platform empowers users to ask and answer any question on any data, providing real-time, actionable insights through AI-driven features and tools.

How Much Funding Has ThoughtSpot Raised?

1. Series C
   • Amount Raised: USD 50,000,000
   • Date: May 2016
   • Lead Investors: General Catalyst, Geodesic Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand product development and market reach.
2. Series C
   • Amount Raised: USD 60,000,000
   • Date: August 2017
   • Lead Investors: Lightspeed Venture Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and enhance AI capabilities.
3. Series D
   • Amount Raised: USD 145,000,000
   • Date: May 2018
   • Lead Investors: Lightspeed Venture Partners, Sapphire Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To accelerate growth and expand into new markets.
4. Series E
   • Amount Raised: USD 248,000,000
   • Date: August 2019
   • Lead Investors: Lightspeed Venture Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To fuel global expansion and product innovation.
5. Series Unknown
   • Amount Raised: USD 20,000,000
   • Date: March 2021
   • Lead Investors: Snowflake Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To enhance cloud capabilities and partnerships.
6. Series F
   • Amount Raised: USD 100,000,000
   • Date: November 2021
   • Lead Investors: March Capital
   • Valuation at Round: USD 4,200,000,000
   • Motivation Behind the Round: To accelerate innovation and expand the Modern Analytics Cloud globally.
7. Secondary Market
   • Date: February 2024
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To provide liquidity to early investors and employees.

Total Amount Raised: USD 623,000,000. Current Valuation: USD 4,200,000,000.

Key Investors

• March Capital
  • Details: March Capital is a venture capital firm that focuses on investing in technology companies. They led ThoughtSpot's Series F funding round with a $45 million contribution.
  • Investment Focus Areas: Technology, cloud computing, AI, digital transformation.
  • Notable Investments: CrowdStrike, ASAPP, ThoughtSpot.
• Lightspeed Venture Partners
  • Details: Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the enterprise and consumer sectors. They have been a consistent investor in ThoughtSpot across multiple funding rounds.
  • Investment Focus Areas: Enterprise technology, consumer, health sectors.
  • Notable Investments: Snap, Affirm, MuleSoft.
• General Catalyst
  • Details: General Catalyst is a venture capital firm that provides early-stage and growth equity investments. They have participated in several funding rounds for ThoughtSpot, including the Series F round.
  • Investment Focus Areas: Technology, healthcare.
  • Notable Investments: Airbnb, Stripe, HubSpot.
• Khosla Ventures
  • Details: Khosla Ventures is a venture capital firm that invests in early-stage companies in various sectors. They have been involved in multiple funding rounds for ThoughtSpot.
  • Investment Focus Areas: Technology, healthcare, sustainability.
  • Notable Investments: DoorDash, Square, Impossible Foods.
• Snowflake Ventures
  • Details: Snowflake Ventures is the investment arm of Snowflake, focusing on companies that leverage the data cloud. They participated in ThoughtSpot's Series F funding round.
  • Investment Focus Areas: Data cloud, analytics.
  • Notable Investments: Not specified.

What's Next for ThoughtSpot?

ThoughtSpot's future is brimming with opportunities as it continues to expand its cloud-based services. The company is poised to leverage its strategic alliances with industry giants like Snowflake, Wipro, and Amazon Web Services to enhance its product offerings and reach a broader customer base. With a valuation of $4.2 billion and a growing annual recurring revenue from cloud products, ThoughtSpot is well-positioned to capitalize on the increasing demand for AI-driven, real-time data analytics.

Future fundraising opportunities are likely, with the potential for an IPO as the company solidifies its cloud-first strategy. This could attract further investment to fuel innovation and global expansion. However, ThoughtSpot will need to navigate challenges such as shifting market perceptions and intense competition in the cloud analytics space. Maintaining customer satisfaction and operational efficiency during this transition will be crucial for sustained growth.

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