Software Startup ThoughtSpot Brings In $60 Million

ThoughtSpot announced the completion of $60 million in financing. According to Reuters, the round was led by Lightspeed Venture Partners.

ThoughtSpot’s mission is to disrupt the business intelligence industry with search-driven analytics for the enterprise. Its Relational Search technology lets business people analyze company data in seconds and helps BI and analytics teams cut their reporting backlogs by more than 90 percent. ThoughtSpot connects with data from on-premise and cloud data sources and is designed for enterprise-scale, security, and governance, deploying 85 percent faster than legacy technologies. The company’s founding team previously built market-defining search and analytics technologies at Google, Amazon, Oracle, and Microsoft.

The company revealed that Thoughtspot’s funding coincides with the company’s debut of a new artificial intelligence product, Spotiq. With this technology, a computer asks thousands of questions on its own, making assumptions about what users want to know based on their profiles and search terms.