The American AI software firm ThoughtSpot said that it will invest $25 million in its engineering center in Bangalore, India. The funds will be used to pep-up company’s search and AI-driven analytics platform and new hiring from campuses. ThoughtSpot will also begin business operations in India to bring augmented analytics to enterprises throughout the region.
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.
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.
“As we drive the data-centric initiatives with our Business 4.0 thought leadership framework in our enterprise customers to accelerate business growth and transformation, we thrive to get insights into the hands of every decision maker,” said Dinanath Kholkar, Vice President, Global Head of Analytics & Insights, Tata Consultancy Services.
“By partnering with ThoughtSpot, we will be able to bring the power of search and AI-driven analytics to businesses throughout India and around the world, equipping every decision maker with the ability to find actionable insights, and make better decisions to drive business outcomes.”
“In a space as rapidly evolving as artificial intelligence and machine learning, the only way to keep up with the needs of enterprise customers is by hiring exceptional talent who can deliver innovation quickly,” said Sudheesh Nair.
“With the new investment, we’ll not only be able to grow our team with this kind of talent from across India, but simultaneously bring our platform to Indian enterprises for the first time with a dedicated, local team.”
“Over the past two years, the Bangalore engineering center has become one of our key R&D centers, working hand in hand with our teams in Sunnyvale and Seattle to create a more fact-driven world through technology,” said Puneet Agarwal, ThoughtSpot VP and Head of India Engineering.
“We’re looking for the best and brightest minds in product, engineering, and design who share our passion for delivering real value to our customers, while bettering the world through artificial intelligence, distributed systems, databases, and UI/UX.”
“I’m incredibly excited by today’s news. Not only will the investment will help ThoughtSpot bring innovations to our customers more quickly than ever before, but for the first time, we’ll have a dedicated business team to bring search and AI-driven analytics to enterprises throughout India,” said Sunil Mahale, ThoughtSpot VP of APJ.
“Enterprises who want to compete on a global stage require a better way to arm their entire organization with insights to transform how they operate. With a dedicated local team in place and a growing ecosystem of partners and SIs, we’re primed and ready to help them with this transformation.”