ThoughtSpot, a provider of search-driven analytics platforms, is receiving a $50 million investment, led by investor General Catalyst Partners and Geodesic Capital, to propel the company’s growth.
The new round brings its total capital raised to more than $90 million. Existing investors, Lightspeed Ventures, and Khosla Ventures, also continue to support ThoughtSpot.
“The business intelligence market is ripe for a 100-1000x leap forward in the speed of data access,” said Ajeet Singh, co-founder and CEO of ThoughtSpot. “The businesses of the future will not wait days or weeks for reports to be built. And the analytics teams of the future will no longer be report factories. We create a win-win scenario for both groups - business people get data instantly to make decisions, while analytics teams can focus on more advanced analyses.”
With this new investment, ThoughtSpot will focus on continued growth in three key areas - global expansion, hiring, and technology advancement.
Plans for global expansion include continued investment in EMEA and other international markets.
The company doubled its sales team in the first three months of 2016, and looks to hire additional sales, service, and marketing team members.
Finally, research and development investments will be made to expand ThoughtSpot’s position in relational search.
For more information about this investment, visit www.thoughtspot.com.
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