ThoughtSpot, a company that aims to provide businesses with intelligent search and data visualization, has raised $10.7 million in Series A funding led by Lightspeed Venture Partners.
The startup is the brainchild of Nutanix co-founder Ajeet Singh and Amit Prakash, who was a founding engineer of Microsoft’s Bing team and then spent five years leading technical teams in Google’s AdSense Analytics group.
The company has developed a relational search engine and in-memory database designed for mid-to-large enterprises with natural language query so that enterprises have a way to search across all numerical data (i.e. expense reports, sales records and more). The goal for Singh and Prakash when founding the company was giving businesses the ability to access and analyze terabytes of business data with a Google-like ease-of-use. As Singh explains, Google, Facebook and others have changed the way we search for public data, yet enterprise data is the same. The whole consumerization of the enterprise has not caught up to enterprise search, says Singh.
ThoughtSpot’s search and computation platform pulls in business data, and allows companies to visualize this data in search and visual formats. As Singh explains, the startup’s technology is optimized for relational structural data.
Right now, IBM and others are attempting to tackle this space but Singh believes that many of these incumbents haven’t approached solving the problem in the right way.