ThoughtSpot delivers an AI-powered data analytics cloud-based tool, enabling non-technical users to create, consume and operationalize data-driven insights.
When it comes to data, the biggest thing that is happening is the creation of what is known as the modern data stack.
A new generation of companies such as Snowflake, which invested in ThoughtSpot, is helping businesses tap cloud-based data in a model called data-as-a-service.
Data is now being managed as software, and thus the software development lifecycle is being applied to manage data. Now you can define the changes you want to see in the data using software code. You can write transformations, execute them inside the cloud data platform and your data will be ready for analytics.
ThoughtSpot has then emerged as a preferred analytics layer for the new data stack with integrations and partnerships with leading data players like Snowflake, Databricks, AWS, DataRobot, dbt Labs, Starburst, and others.
In addition, ThoughtSpot is leading the use of generative AI by ABI (Analytics & Business Intelligence) tools. For instance, it offers Natural Language Query (NQL) which enables users to ask questions of the data using normal language terms that are either typed into a search box or spoken. All this for $95 / month.
ThoughtSpot was founded in 2012 by the founder of Nutanix, which was the largest tech IPO in 2016. Valued at $4.2B, it raised $674M, with the participation of Lightspeed Venture Partners in the seven funding rounds.
The ABI market is vast (over $25B) and growing (+$1.7B per year for the next 5 years). We, at Fabrica Ventures, are pleased to put a foothold on it through ThoughtSpot.