Analytics firm Thoughtspot to invest $150 million in India, opens 3rd centre in Thiruvananthapuram

Saas-based analytics firm Thoughtspot is investing USD 150 million (around Rs 1,190 crore) in the country over the next five years and also has just opened its third centre in the country in Thiruvananthapuram.

The company, backed by marquee venture capital funds, does not have a headquarters per se, instead operates from California, Bengaluru and Hyderabad, and employs around 800, of them around 300 in the country.

While the Bengaluru office houses over 150, the other centre has a little over 100 headcount now and the Thiruvanathapuram centre will have 50 or so by the end of this year from 15 now, its co-founder and executive chairman Ajeet Singh told PTI on Monday.

He said they will be investing USD 150 million in the country over the next five years, having already spent around USD 25 million each in the existing two centres. On completion of this investment, the India headcount will top 1,000, he added.

The company, though serves Hindustan Unilever, and its parent Unilever, does not have a marketing team in the country, so the first priority is to have a marketing team here, Singh said, adding currently its revenue comes from the US, Europe, Japan, and Australia.

Singh said since the founding in 2012, they have raised USD 670 million and at the latest USD 100-million funding round in November 2021, its valuation was USD 4.2 billion.

The company boasts of external investors like Lightspeed Ventures, Future Fund, Khosla Ventures (of Vinod Khosla), General Catalyst, Capital One, Sapphire Ventures, and Snowflake Computing among others, Singh said, without disclosing how much they own and also how much the promoters hold. He also refused to disclose revenue and profit numbers.