ThoughtSpot Announces $25M Investment in India to Accelerate Development of Artificial Intelligence (AI) and Machine Learning (ML) Platform - GADGETS & INNOVATIONS


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Monday, April 8, 2019

ThoughtSpot Announces $25M Investment in India to Accelerate Development of Artificial Intelligence (AI) and Machine Learning (ML) Platform

New funding will be used to expand engineering center in Bangalore and recruit talent from top universities

Funding will also support launch of ThoughtSpot business operations in India

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.

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 analyticswith 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.

 NEW DELHI, INDIA. – April 8, 2019

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