The company is also launching its business operations in India to bring augmented analytics to enterprises throughout the country.
US-headquartered artificial intelligence (AI) company ThoughtSpot on Monday announced its 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, an official statement said.
The company noted that 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.
With the new funding, it aims to expand its engineering activities at its two-year-old facility in Bangalore to work on the company’s industry leading analytics and AI platform. The Bangalore teams will collaborate with R&D centers in Sunnyvale and Seattle in the US as part of ThoughtSpot’s globally distributed engineering team, it added.
ThoughtSpot plans to hire fully-formed product teams in the Bangalore office, including product managers, engineers and designers.
According to ThoughtSpot, 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.
“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, CEO, ThoughtSpot.
“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,” he added.
To begin its business operations in India
Apart from investing in the engineering center, ThoughtSpot said it will be launching its business operations in India to bring augmented analytics to enterprises throughout the country. It plans to bring its technology to market through partnerships with the powerful ecosystem of global systems integrators in India.
Puneet Agarwal, ThoughtSpot VP and Head of India Engineering, shared that over the past two years, the Bangalore engineering center has become one of ThoughtSpot‘s key R&D centers.
He said, “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.”
Sunil Mahale, ThoughtSpot VP of APJ, is hopeful that the new investment will help ThoughtSpot bring innovations to customers faster. Also, he said they will have a dedicated business team to bring search and AI-driven analytics to enterprises throughout India.
ThoughtSpot’s previous fiscal year
ThoughtSpot has made progress in major parts of the business, such as:
Product and Partner Expansions: In the last 12 months, ThoughtSpot has delivered new innovations to market, such as voice-driven analytics with 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: Gartner named ThoughtSpot a ‘Leader’ in the Magic Quadrant for Analytics & BI Platforms; Forbes listed ThoughtSpot as one of the 100 most important cloud companies and the World Economic Forum recognized ThoughtSpot as a ‘Technology Pioneer’.