|By Marketwired .||
|February 5, 2014 05:00 AM EST||
REDWOOD CITY, CA -- (Marketwired) -- 02/05/14 --
- Raised $10.7 million in an oversubscribed Series A round led by Lightspeed Venture Partners
- ThoughtSpot eliminates the need for traditional BI tools through ThoughtSpot Relational Search Engine combined with its enterprise-class ThoughtSpot In-memory Database
- Designed for mid-to-large enterprises, ThoughtSpot Data Search Appliance is now available under early access program
ThoughtSpot Inc., a revolutionary innovator in bringing search to business data, today announces the launch of its early access program for ThoughtSpot Data Search Appliance. ThoughtSpot now offers business users the ability to access and analyze terabytes of business data with a Google-like ease-of-use. The appliance eliminates the tremendous reporting pressure that is created on IT by data-hungry business users. In addition, it enables IT to manage data and infrastructure in a secure and centralized manner, eliminating proliferation of data copies on users' desktops.
Web Data Search -- Google; Social Data Search -- Facebook and LinkedIn; Business Data Search -- ?
Google has transformed the way the world searches for public data on the web. Facebook and LinkedIn have changed how we search through our social data. The business data world, however, is still stuck in the past, requiring constant time and attention from IT to create reports using Business Intelligence tools that were built ten to twenty years ago. ThoughtSpot is building disruptive technology from the ground-up to change the game in business data access, analysis and visualization. ThoughtSpot Data Search Appliance provides a consumer-class user experience with enterprise-class security, scalability, and manageability. Big vendors such as SAP and IBM have talked about BI products that provide a search-based experience to enterprise users but ThoughtSpot is delivering on this promise to reinvent how BI is done.
"We see a huge opportunity in the BI market for a product that can bring the power of search to business data. Here at ThoughtSpot, we have spent the past 18 months building an A+ team to create something that will genuinely be a game-changer in the world of BI," said the ThoughtSpot co-founders. "We are thrilled to open up early access to more customers today. The level of interest and excitement we've seen so far is a validation of our belief that enterprise customers want a Google-like interaction with their data and are tired of traditional, complicated BI tools."
Founders, Investors, and Advisors
The founding team at ThoughtSpot has a strong track record of building revolutionary companies and technologies. CEO & co-founder Ajeet Singh is a second-time entrepreneur, who previously co-founded Nutanix, one of the fastest-growing enterprise technology companies of the last decade that was valued at a billion dollars recently. CTO & co-founder Amit Prakash was a founding engineer of Microsoft's Bing team and then spent five years leading technical teams in Google's AdSense Analytics group. Other co-founders include technical leaders who have made significant contributions to technology such as Google's Search Index, Google's Project Borg, Google's Ads Database, Microsoft's SQL Server, and Oracle's BI-in-the-cloud.
ThoughtSpot has raised $10.7MM Series A from Lightspeed Venture Partners and angel investors Frank Slootman (President & CEO, ServiceNow; ex-CEO, Data Domain), Lane Bess (COO, ZScaler; ex-CEO, Palo Alto Networks), Steve Sommer (CMO, Splunk), and Sudheesh Nair (VP WW sales, Nutanix). ThoughtSpot is also advised by a team of data analytics experts from companies such as Facebook, Informatica, and Netezza/IBM.
"There is a huge opportunity to consumerize business data access by replacing BI tools from decades ago with an intuitive, web-search like experience," said Ravi Mhatre, partner at Lightspeed Venture Partners. "We are pleased and honored to support the ThoughtSpot founding team as they shake things up in this massive market." The ThoughtSpot board is comprised of Ajeet Singh, Amit Prakash, Ravi Mhatre, Arif Janmohamed (partner, Lightspeed Venture Partners), and Frank Slootman (board observer).
ThoughtSpot is aiming to fix the broken business intelligence model in the enterprise. ThoughtSpot Data Search Appliance is a plug-and-play solution that provides a search-based user experience for business data access and analysis. Based in Redwood City, CA, ThoughtSpot has raised $10.7M in Series A from Lightspeed Venture Partners and top-tier angel investors. The ThoughtSpot founding team has experience of building the fastest-growing enterprise tech company of the last decade, Nutanix, and also market-defining search and analytics technologies at companies such as Google, Amazon, Oracle, and Microsoft. For more information contact [email protected]. Follow us on Twitter at @thoughtspot.