ThoughtSpot raises $145 mn to strengthen global biz, R&D

Technology firm ThoughtSpot today said it has raised USD 145 million in Series D funding which will be used for expanding global business and strengthening R&D manpower.

The firm, which is player in search and artificial intelligence-driven analytics for enterprises, said it is looking to grow its R&D centres in Palo Alto, Seattle, Dallas and Bengaluru.

"With the new funding, we'll continue to push the boundaries of what's possible with self-service analytics for our customers, partners, and the industry at large," ThoughtSpot founder and CEO Ajeet Singh said in a statement.

The company will also look to accelerate global business growth, including expansion in EMEA (Europe, the Middle East and Africa) and APAC (Asia Pacific), ThoughtSpot said.

The latest round of funding, which will be the last as a private firm, was oversubscribed with strong participation from both existing as well as new investors, it added.

Since it was founded in 2012, ThoughtSpot has raised USD 306 million in total funding.

The latest round saw participation from existing investors -- Lightspeed Ventures, Future Fund, Khosla Ventures, and General Catalyst -- besides new investor Sapphire Ventures, among others.

Ravi Mhatre, Partner, Lightspeed Venture Partners said, "As the next-generation analytics platform for global enterprises, ThoughtSpot is already meeting this critical need for the world's largest companies, as these organisations seek to compete in today's digital economy.