ThoughtSpot Sees Valuation Drop Due To Secondary Market

ThoughtSpot, Inc., a Prime Unicorn Index component, has been marked down due to a secondary market transaction. According to Caplight data, a closed trade in June 2024 was completed at $6.80 per share, which is 73.67% less than their Series F price of $25.83 PPPS. This trade has led to ThoughtSpot’s valuation being slashed to about $920 million, according to the Prime Unicorn Index. This drop could lead to the company falling out of the index as its valuation is under $1 billion.

Founded in 2012, ThoughtSpot is a business intelligence and analytics company focused on providing AI-powered data visualization and exploration tools. Users can perform natural language searches to generate insights quickly, making analysis of large datasets more accessible for non-technical users. ThoughtSpot’s platform integrates seamlessly with various data sources, allowing companies to transform data into actionable intelligence in real time. This helps organizations make decisions more efficiently to enhance overall performance. 

ThoughtSpot has raised $655.28 million in total funding, with investments from Lightspeed Venture Partners, Khosla Ventures, General Catalyst Partners, Sapphire Ventures, Geodesic Capital, Fidelity, Capital One Growth Ventures, March Capital, and Snowflake Ventures, among others. The company most recently raised $100 million in their 2021 Series F round where its valuation peaked at about $4.2 billion.