Bay Area/ San Jose/ Retail & Industry
AI Assisted Icon
Published on September 03, 2019
ThoughtSpot's $248 million financing tops recent funding news in SunnyvalePhoto: Austin Distel/Unsplash

Sunnyvale-based business intelligence company ThoughtSpot has secured $248 million in Series E funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was on announced on Aug. 22.

According to its Crunchbase profile, "ThoughtSpot is a business intelligence and big data analytics platform that helps you explore, analyze and share real-time business analytics data easily. ThoughtSpot’s AI-Driven analytics platform puts the power of a thousand analysts in every business person's hands. With ThoughtSpot, you can use search to easily analyze your data or automatically get trusted insights pushed to you with a single click."

The seven-year-old company has raised six previous funding rounds, including a $145 million Series D round in 2018.

The round brings total funding raised by Sunnyvale companies in software over the past month to $273 million, an increase of $271 million from the month before. The local software industry has produced 48 funding rounds over the past year, capturing a total of $1.1 billion in venture funding.

In other local funding news, IT infrastructure company Platform9 announced a $25 million Series D funding round on Aug. 27, led by NGP Capital.

According to Crunchbase, "Platform9 delivers the next-generation open cloud for enterprises to deploy, monitor and maintain hybrid clouds across multiple platforms. Platform9 provides cloud infrastructure like OpenStack and Kubernetes as SaaS-managed solutions, along with the serverless project, Fission, to customers such as Cadence Design, Autodesk, Splunk and EBSCO, enabling speed and scale without being locked into a single vendor ecosystem. The company is headquartered in Sunnyvale, California, and is backed by Redpoint Ventures, Menlo Ventures, Canvas Ventures and HPE."

Founded in 2013, the company has raised three previous rounds, including a $22 million Series C round in 2017.

Meanwhile, CRM company Percept.AI raised $150,000 in seed funding, announced on August 19. The round was financed by Y Combinator.

From the company's Crunchbase profile, "Deep and flexible integration with all the popular customer-communication platforms and CRM software that you already use."

Percept.AI last raised seed funding in 2017.

This story was created automatically using local investment data, then reviewed by an editor. Click here for more about what we're doing. Got thoughts? Go here to share your feedback.