ThoughtSpot, the business intelligence startup that offers data analytics searches as simple to use as Google, hit unicorn status on Wednesday with a $248 million funding round led by Lightspeed Ventures. The E Series round raised total funding to $554 million with a valuation of $1.95 billion.
The company is readying itself to go public, says ThoughtSpot CEO Sudheesh Nair, adding that prior to this raise, the company had $100 million in the bank.
“ThoughtSpot is the best-capitalized private company in the space of analytics today,” Nair tells Forbes. He credits his company’s singular focus for its booming success. “Silicon Valley startups don’t usually die of starvation, but from indigestion. That is, companies try to do a lot of things and lose focus. We were able to sharpen our focus on execution when it comes to go to market.”
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