(Page 2 of 2)
VCs Betting on Data Search
Venture capitalists are buying into the promise. ThoughtSpot has raised $10.7 million in Series A funding from Lightspeed Venture Partners and angel investors Frank Slootman (president and CEO of ServiceNow and ex-CEO of Data Domain), Lane Bess (COO of ZScaler and ex-CEO of Palo Alto Networks), Steve Sommer (CMO of Splunk), and Sudheesh Nair (VP WW sales of Nutanix). ThoughtSpot is also advised by a team of data analytics experts from companies such as Facebook, Informatica, and Netezza/IBM.
"There is a huge opportunity to consumerize business data access by replacing BI tools from decades ago with an intuitive, web-search like experience," said Ravi Mhatre, partner at Lightspeed Venture Partners. Singh, Prakash, Ravi Mhatre, Arif Janmohamed, a partner at Lightspeed Venture Partners, along with Frank Slootman, a board observer, make up the board of directors.
The founding team has a strong track record of building revolutionary companies and technologies. Singh is a second-time entrepreneur who previously co-founded Nutanix, one of the fastest-growing enterprise technology companies of the last decade that was recently valued at $1 billion. Prakash was a founding engineer of Microsoft's Bing team, then spent five years leading technical teams in Google's AdSense Analytics group. Other co-founders include technical leaders who have made significant contributions to technology such as Google's Search Index, Google's Project Borg, Google's Ads Database, Microsoft's SQL Server, and Oracle's BI-in-the-cloud.