ThoughtSpot, the AI-Powered Analytics company, is set to acquire Mode Analytics, the modern Business Intelligence (BI) platform, in a cash and equity deal valued at $200 million.
Over the last fiscal year, ThoughtSpot has seen 100 percent growth in its SaaS ARR, driven by its success in helping both global enterprises like Verizon, CVS, Anthem, Capital One, Snowflake, and Comcast and digital natives like Wellthy, Modern Milkman, and Huel, more effectively leverage their data in the cloud.
With the acquisition, ThoughtSpot’s ARR will grow to over $150 million, while doubling its customer base.
ThoughtSpot announced$150 million investment in India between 2022 and 2027, which includes 30 percent headcount growth in the market, and follows the opening of its third R&D center in the region in Trivandrum, launched in September 2022.
ThoughtSpot’s R&D teams in Bangalore, Hyderabad and Trivandrum spanning engineering and partner engineering, to design and operations have been instrumental in delivering innovation resulting in business impact for the company, which is growing at over 100 percent Saas ARR year on year.
