ThoughtSpot Announces $25M Investment in India to Accelerate Development of AI and ML Platform
BANGALORE, India--(BUSINESS WIRE)--Apr 8, 2019--Artificial intelligence and machine learning are transforming every business, in every industry, across the globe. Today, ThoughtSpot announced plans to invest $25M in its engineering center in Bangalore, India. The funds will be used to innovate the company’s industry leading search and AI-driven analytics platform and continue to recruit talent from top Indian universities. ThoughtSpot will also begin business operations in India to bring augmented analytics to enterprises throughout the region.
Creating the Future of AI in India
India has become a major global hub for analytics and AI professionals, providing a significant opportunity for companies who can tap into this talent pool to keep up with the pace of innovation in the industry. With the new funding, ThoughtSpot will be able to expand its rapidly growing AI engineering center in Bangalore, India to work on the company’s industry leading analytics and AI platform. These teams will directly collaborate with R&D centers in Sunnyvale and Seattle as part of ThoughtSpot’s globally distributed engineering team. Furthermore, ThoughtSpot will leverage the new funding to hire fully formed product teams in the Bangalore office, including product managers, engineers, and designers. The company will also use the new investment to continue to hire technical and engineering talent from top universities throughout the region.
Bringing ThoughtSpot to Indian Enterprises
Concurrent with the investment in the engineering center, ThoughtSpot will also be launching it’s business operations in India, serving both global customers with data analytics and engineering teams in India, as well as enterprises based in India. Currently, one in ten open data science and machine learning jobs can be found in India, indicating a disconnect between the demand for insights and the supply of technical professionals who can provide them.
ThoughtSpot will bring its technology to market through partnerships with the powerful ecosystem of global systems integrators in India. Businesses can empower their frontline employees with the ability to find data-driven insights on their own using a simple, natural language search, or find answers to questions they didn’t even know to ask by using SpotIQ, ThoughtSpot’s AI engine. This not only improves decision making and agility for frontline employees, but frees up time for data talent to work on strategic, long term data initiatives.
“As we drive the data-centric initiatives with our Business 4.0TM thought leadership framework in our enterprise customers to accelerate business growth and transformation, we thrive to get insights into the hands of every decision maker,” said Dinanath Kholkar, Vice President, Global Head of Analytics & Insights, Tata Consultancy Services. “By partnering with ThoughtSpot, we will be able to bring the power of search and AI-driven analytics to businesses throughout India and around the world, equipping every decision maker with the ability to find actionable insights, and make better decisions to drive business outcomes.”
Thoughts from the Top
“In a space as rapidly evolving as artificial intelligence and machine learning, the only way to keep up with the needs of enterprise customers is by hiring exceptional talent who can deliver innovation quickly,” said Sudheesh Nair. “With the new investment, we’ll not only be able to grow our team with this kind of talent from across India, but simultaneously bring our platform to Indian enterprises for the first time with a dedicated, local team.”
“Over the past two years, the Bangalore engineering center has become one of our key R&D centers, working hand in hand with our teams in Sunnyvale and Seattle to create a more fact-driven world through technology,” said Puneet Agarwal, ThoughtSpot VP and Head of India Engineering. “We’re looking for the best and brightest minds in product, engineering, and design who share our passion for delivering real value to our customers, while bettering the world through artificial intelligence, distributed systems, databases, and UI/UX.”
“I’m incredibly excited by today’s news. Not only will the investment will help ThoughtSpot bring innovations to our customers more quickly than ever before, but for the first time, we’ll have a dedicated business team to bring search and AI-driven analytics to enterprises throughout India,” said Sunil Mahale, ThoughtSpot VP of APJ. “Enterprises who want to compete on a global stage require a better way to arm their entire organization with insights to transform how they operate. With a dedicated local team in place and a growing ecosystem of partners and SIs, we’re primed and ready to help them with this transformation.”
Continued Business Momentum
Throughout its last fiscal year, ThoughtSpot has made progress in all major parts of the business, such as:
- Product and Partner Expansions: in the last twelve months, ThoughtSpot has delivered new innovations to market, such as voice-driven analytics with SearchIQ, predictive analytics and machine learning through partnerships with DataRobot and Alteryx, and multi-cloud analytics through a partnership with Google Cloud Platform
- Growing Executive Team: Cindi Howson recently joined ThoughtSpot as Chief Data Strategy Officer, while Marta Molina Paul joined as VP of Global People Operations
- Securing Market and Industry Recognition: leading business and technology organizations have recognized ThoughtSpot’s contributions changing the way the world uses data, including Gartner, who named ThoughtSpot a Leader in the Magic Quadrant for Analytics & BI Platforms, Forbes, who named ThoughtSpot one of the 100 most important cloud companies, and the World Economic Forum, who named ThoughtSpot a Technology Pioneer.
The world’s most innovative enterprises use ThoughtSpot to empower every person in their organization, from C-suite executive to front-line employee, with the ability to quickly uncover data-driven insights. With ThoughtSpot, business people can type a simple Google-like search in natural language to instantly analyze billions of rows of data, and leverage artificial intelligence to get trusted, relevant insights pushed to them as answers to thousands of questions they might not have thought to ask. ThoughtSpot is simple enough for any business person to use, yet powerful enough to handle even the largest, most complex enterprise data without sacrificing speed, security, or governance. That’s why customers like 7-11, BT, Celebrity Cruises, Daimler, De Beers, Hulu, Miami Children’s Health System, Nationwide Building Society, and Scotiabank have turned to ThoughtSpot transform their decision-making cultures. By making insights a part of every conversation and every decision, ThoughtSpot is reimagining the role of data in creating a more fact-driven world. For more information, please visit www.thoughtspot.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190408005217/en/
CONTACT: Ryan Mattison
KEYWORD: ASIA PACIFIC INDIA
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT INTERNET NETWORKS SOFTWARE
Copyright Business Wire 2019.
PUB: 04/08/2019 04:30 AM/DISC: 04/08/2019 04:30 AM