Analytics Firm 'Thoughtspot' to Invest $150 Million in India, Opens 3rd Centre in Thiruvananthapuram

Business Intelligence Analytics Firm Thoughtspot has announced its plans to invest $150 million in India over the next five years. The company has just opened its premises in Thiruvananthapuram, making it the third centre in the country. 

Backed by marquee venture capital funds, the company does not have a headquarter per se—but operates from California, Hyderabad, and Bangalore. It currently has 800 employees, out of which 300 are in the country. 

Cofounder and Executive Chairman Ajeet Singh said that while the Bengaluru office houses over 150, the other centre has a little over 100 headcount. He said that the Thiruvananthapuram centre will have a strength of 50 or so by the end of this year from the current strength of 15. 

“On completion of this investment, the India headcount will top 1,000”, said Ajeet Singh. The company has already spent around USD 25 million each in the existing two centres in the country. 

Founded in 2012, the company is based in Sunnyvale, California and generates revenue from the US, Europe, Japan, and Australia. The analytics firm raised $670 million, with a valuation of 

$4.2 billion at the latest $100-million funding round in November 2021.

The company has external investors such as Lightspeed Ventures, Future Fund, General Catalyst, Sapphire Ventures, among others. Ajeet Singh has refused to disclose revenue and profit numbers. However, he revealed plans of having a marketing team in India, citing it as a first priority for the company. 

Thoughtspot was one of the first analytics firms to make natural language processing a central feature—enabling customers to search for data without having to know and write code. In 2020, the company redesigned its tools to be cloud-native, emphasising on how cloud computes greater power results in speed.