thoughtspot Archives - Crunchbase News /tag/thoughtspot/ Data-driven reporting on private markets, startups, founders, and investors Thu, 07 Nov 2024 11:02:05 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.5 /wp-content/uploads/cb_news_favicon-150x150.png thoughtspot Archives - Crunchbase News /tag/thoughtspot/ 32 32 ThoughtSpot Picks Up $145M After Raising $60M Last August /business/thoughtspot-picks-145m-raising-60m-last-august/ Tue, 08 May 2018 16:22:02 +0000 http://news.crunchbase.com/?post_type=news&p=13989 Another day, another $100 million round.

After yesterday’s $125 million for Mesosphere,  announced a $145 million raise today. The enormous Series D comes less than a year after the company in August 2017.

The Bay Area-based business analytics platform that claims to use artificial intelligence has now raised in the ballpark of $300 million, per Crunchbase’s data with the new capital added in. joined ThoughtSpot’s cap table in the Series D, adding its name to prior investors , , , and corporate venture capital investors  and .

The new capital, per Fortune, .

Speed

ThoughtSpot has raised money more quickly as it scaled. According to Crunchbase, the firm raised its Series A in Q2 2012. Then, eight quarters later in Q2 2014, it raised its Series B. Next, after the same interval, it raised its Series C in Q2 2016. Five quarters later, the firm raised its Series C. Now its Series D comes just three quarters after its Series C.

Its expanding capital base, and pace at which ThoughtSpot has raised, implies rapid growth on the company’s side. So what do we know about its recent performance? Not as much as I’d like, but we do have a revenue fact that the company  and repeated in its materials for its new capital raise:

“ThoughtSpot grew revenue by 180 percent in the fourth quarter, as enterprises invested heavily in the company’s search & AI-driven analytics platform. In their first purchase, more than 80 percent of customers invested six-figures, with several customers expanding to million dollar plus investments.”

I’ve emailed the firm asking if the 180 percent figure is a year-over-year figure (comparing its most recent FQ4 to the year-ago period) or a sequential result (comparing its most recent FQ4 to its most recent FQ3). When we hear back, we’ll update. Update: The figure is a year-over-year result.

Even if the figure is a year-over-year growth pace, that’s good progress for a firm that has been around for over a half-decade.

Another day, another $100 million round. It seems that even with an increased IPO cadence in 2018, tech is still adding more backlog to the liquidity logjam than it is loosening.

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