With the current set of Business Intelligence (BI) tools that are used in an enterprise, a knowledge worker today simply gets a set of dashboards of graph and charts, with no information about the underlying data. If they want to drill down on any information, they’re stuck waiting for an answer from a data analyst, BI professional or data scientist. Unfortunately, waiting isn’t an option in a day and age when competition is global, 24×7 and extremely cut-throat. As a result, many revert to gut based decision-making without leveraging all the data that is available and the insights that it could provide them.
Today, we are privileged to announce our investment in ThoughtSpot which empowers knowledge workers in the enterprise with its simple search & AI-driven analytics platform. The company’s search-driven analytics empower knowledge workers to answer the questions they want to ask, but are unable to with the current set of BI tools. ThoughtSpot took this further with SpotIQ, the company’s new AI engine, which provides these same knowledge workers with insights to questions they care about, but wouldn’t even know to ask. With ThoughtSpot, the enterprise user becomes highly analytical, productive and able to make a meaningful positive impact to the bottom line.
We have known Ajeet Singh (CEO and co-founder) since his days at Nutanix, a Sapphire Ventures portfolio company, where he was the chief product officer and co-founder. He then went on to found ThoughtSpot to realize his vision of enabling knowledge workers and business people to look for insights and analyze enterprise data in the same way that all of us use Google to search the Internet. Ajeet assembled a stellar team of engineers and product managers that not only built his vision of a search-driven metaphor for analyzing data, but also made the platform extremely scalable and easy to deploy and manage on the cloud or on-premise. On top of this, the team has built AI and machine-learning capabilities to answer questions that a knowledge worker had never thought of asking, but which makes the analysis much more accurate and insightful.
ThoughtSpot is now entering the phase where it must scale and grow globally so that it can continue to empower thousands of enterprises and millions of their knowledge workers to be data-driven and analytical, just like the knowledge workers at Capital One, Celebrity Cruises, Chevron, Miami Children’s Hospital, OpenTable, Sterling National Bank, and ServiceNow all of whom are current customers. We are excited to help ThoughtSpot continue its rapid growth and help the Company scale globally, with the help of our Portfolio Growth team, which will tap into its enterprise CXO network to help ThoughtSpot navigate the complexities of partnering with and selling to large enterprise corporations on a global scale.
ThoughtSpot is democratizing analytics and boosting productivity by enabling knowledge workers to make sound, data-driven decisions even though they don’t have the time, ability, or interest to be a Business Analyst or a Data Scientist. We are looking forward to partnering with ThoughtSpot on their journey to become a company of consequence and completely change the analytics market.