Business Intelligence, Big Data Management, Data Science
Globenewswire | June 27, 2023
ThoughtSpot, the AI-Powered Analytics company, today announced it has signed a definitive agreement to acquire Mode Analytics, the modern Business Intelligence (BI) platform that brings data teams and business teams together to drive impact, in a cash and equity deal valued at $200M. Upon close of the acquisition, Mode will become a wholly-owned subsidiary of ThoughtSpot. By combining their respective technology as a versatile suite of analytical tools, the two companies are empowering data teams around the world to confidently transform business intelligence with generative AI and deliver value to the business quickly, securely, and at scale.
The announcement comes on the heels of a record breaking year for ThoughtSpot, and will further accelerate the company's growth. Over the last fiscal year, ThoughtSpot has seen 100% growth in its SaaS ARR, driven by the company's 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 $150M, while doubling its customer base. With very little customer overlap, this transaction will create new opportunities for each company to bring their respective products to customers, while further scaling Mode across ThoughtSpot’s international market presence and broad channel and partner alliances.
Turning data into dollars with complementary capabilities
Every organization, regardless of size, maturity, or industry, knows they need to build their business on data. By putting trusted, contextual insights into the hands of every employee, businesses have seen revenue grow 10-30% faster than their peers. Despite this benefit, the challenge of delivering self service analytics for business users, without overwhelming data teams, has remained out of reach for most organizations. Generative AI promises to accelerate data democratization but comes with added pressure for data teams to prepare data and deploy governed, secure, and accurate systems to business users.
The combination of ThoughtSpot and Mode lets data teams transform their business intelligence to be AI-first, while reducing bottlenecks and increasing access to insights that drive tangible business results. With Mode and ThoughtSpot, companies can go from code-first analysis to code-free data exploration and back again quickly, giving customers both the speed and flexibility of code with governed, trusted self service analytics.
Data teams at hundreds of innovative companies leverage Mode’s code-first experience to answer novel questions as quickly as they arise from the business. With connected, code-first tools like SQL, R, and Python and advanced visualization tools, analysts have flexibility and choice to work with raw data, from any cloud data platform, in highly impactful ways. Now, leveraging ThoughtSpot’s industry-leading AI capabilities, data teams will soon have expanded access to AI to help every analyst feel like they’re pair programming with the best analyst they know, right in Mode.
They can also quickly and efficiently develop robust, reusable data models called datasets. This modeled data can then be served up in ThoughtSpot’s intuitive platform, where every kind of user, from executives to frontline decision makers, can use AI-powered natural language search to ask data questions, get answers, and take action as easily as they chat with a friend or colleague. And with Mode’s extensive visualization library, business users and data teams have more options to visualize data and communicate insights as they build Liveboards.
Making insights pervasive
Cutting edge organizations want to bring data-driven insights into the processes and tools their teams use every day. With Mode and ThoughtSpot, customers embed this analytics experience in the apps they use, or build entirely new data apps. Customers will be able to further extend the new functionality Mode brings to ThoughtSpot into productivity tools like Slack, Google Sheets, Excel, and Microsoft Teams, embed directly into products and apps with ThoughtSpot Everywhere, or be consumed on the go with ThoughtSpot Monitor for Mobile, giving business users access to insights everywhere they make decisions.
For partners across the ecosystem, the acquisition of Mode will create new ways for these partners to provide value to the data teams they support. Partners will be able to use SQL to quickly build new self service analytics capabilities and use cases. These can then be quickly deployed to customers, enabling them to get insights ten times faster than any other comparable solution.
Thoughts from the Top
“Unless you’ve had your head in the sand, every leader in every organization knows they need to figure out how to leverage generative AI to move more quickly and deliver personalized, bespoke experiences to customers. Failing to do so is tantamount to admitting defeat,” said Sudheesh Nair, CEO, ThoughtSpot. “For too long, data teams have been held back by the last generation of archaic data visualization tools like Tableau that forced them to endlessly tweak and update dashboards. With this acquisition, we’re giving both data teams and business users the tools they need to efficiently and quickly turn data into insights and those insights into actions. Whether you want to be code-free for your business users or code-first for your analytics engineers, now is the time to rethink business intelligence if you want to maximize value from your investments in the modern data stack. If you don’t, your competitors will.”
“Today we celebrate the beginning of a new and exciting chapter, not only for Mode, but for the modern data stack, which has been sorely lacking a truly modern business intelligence platform - until now. As part of ThoughtSpot, we will help supercharge the business impact of data teams, empowering them to deliver trustworthy AI-powered insights to their organizations quickly,” said Gaurav Rewari, Mode CEO. “Together, we are bridging the gap between data teams and business users in a unified, dependable, and governed platform that meets the evolving needs of the modern data landscape, where data teams are liberated from mundane tasks and business users are empowered to explore freely.”
“At Mode, we've always focused on helping data analysts, and worked hard to remove the frustrations that interfered with their day-to-day workflows. By providing data teams with an integrated, code-first experience, we’ve enabled our customers to move far more quickly and find much more value in their data than they previously could. Business users, however, haven't been able to explore data with the same power or flexibility. That's why we're combining forces with ThoughtSpot,” said Benn Stancil, Mode Founder and CTO. “Together, we'll not only continue to help our customers accelerate the work that their data teams are already doing, but also deepen its impact. By combining Mode with ThoughtSpot's natural language search and leading generative AI capabilities, data teams will be able to deliver more than just dashboards; they'll become the stewards of the generative AI revolution, and lead their companies' efforts to implement this powerful technology in a way that is safe, reliable, governed, and secure.”
The acquisition of Mode is subject to customary closing conditions, including the receipt of Mode stockholder approval, and is expected to close later this year. For more information, sign up for our upcoming webinar on July 13th.
ThoughtSpot is the AI-Powered Analytics company. Our mission is to create a more fact-driven world with the easiest to use analytics platform. With ThoughtSpot, anyone can leverage natural language search powered by large language models to ask and answer data questions with confidence. ThoughtSpot enables everyone within an organization to limitlessly engage with live data in any popular cloud data platform, making it easy to create and interact with granular, hyper-personalized, and actionable insights. Customers can take advantage of both ThoughtSpot’s web and mobile applications to improve decision-making for every employee, wherever and whenever decisions are made. With ThoughtSpot’s low-code developer-friendly platform, ThoughtSpot Everywhere, customers can also embed AI-Powered Analytics to their products and services, monetizing their data and engaging users to keep them coming back for more. Organizations like T-Mobile, BT, Snowflake, Exxon, Daimler, Medtronic, Hulu, Royal Bank of Canada, Nasdaq, OpenTable, Huel, and Nationwide Building Society rely on ThoughtSpot to transform how their employees and customers take advantage of data. Try ThoughtSpot today and see for yourself.
Mode is the modern Business Intelligence (BI) platform, and the first solution built around the way modern data teams work. Mode clears the path from data to insights and uplevels decision making in every function of the organization. As a unified intelligence layer, Mode maximizes modern data stack ROI and turns data into a competitive advantage for leading businesses across all sectors and stages. Data leaders use Mode to drive more efficient, higher impact analysis and increased data maturity through true self-service.
Business Intelligence, Big Data Management, Big Data
Businesswire | July 05, 2023
Denodo, a leader in data management, and Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, are excited to announce Denodo as a Technology Partner of Alibaba Cloud to deliver the Denodo Platform on the Alibaba Cloud global Marketplace. This partnership enables businesses to leverage the power of data virtualization for logical data integration and management, and real-time analytics in a hybrid cloud environment.
The Denodo Platform, renowned for its logical data integration and management capabilities, offers multiple subscription options on Alibaba Cloud tailored to meet the budgetary needs and functional requirements of medium and large businesses enabling them to start small with departmental projects for faster decision-making and scale to enterprise level as the business needs evolve for simplified data integration and management.
“Denodo’s partnership with Alibaba Cloud allows enterprises to use a logical approach to rapidly access and deliver data siloed across multiple sources in any multi or hybrid cloud environments,” said Selina Yuan, Vice President of Alibaba Group and President of International Business for Alibaba Cloud Intelligence. “By leveraging data virtualization technology, a fast-growing data integration approach for modern data and analytics, Alibaba Cloud customers can accelerate the time to decisions and at the same time simplify data management and integration processes.”
The Denodo Platform for Alibaba Cloud offers a unified web-based user interface with single-sign-on, an AI-powered data catalogue, ML-enhanced smart query optimization, Apache Zeppelin-based Denodo Notebook, and numerous other cutting-edge features. It brings the same full-featured capabilities as the award-winning Denodo Platform deployed in on-premises environments to the Alibaba Cloud ecosystem. With Denodo Platform for Alibaba Cloud, organizations can easily build their logical data fabric or logical data mesh architecture for enterprise wide data democratization.
“Many of Alibaba Cloud customers have global footprint and their data and analytics efforts depend on creating a real-time view of all of their data, in multi or hybrid cloud environments,” said Angel Viña, CEO and Founder of Denodo. “This partnership reflects our commitment to delivering innovative solutions and empowering businesses with the tools and technologies they need to succeed in the digital era where data remains distributed across regional and cloud boundaries.”
Denodo and Alibaba Cloud’s product teams are working closely together to introduce new capabilities, including a free trial on the Marketplace. Both companies are also collaborating on various go-to-market efforts, such as co-selling initiatives in local markets.
“With native support for Alibaba Cloud Storage Services and MaxCompute coming soon and the ability to integrate data across ApsaraDB for Oceanbase, PolarDB, and AnalyticDB, the Denodo Platform enables superior analytics capabilities in the Alibaba Cloud,” added Viña. “Looking ahead, Denodo and Alibaba Cloud have ambitious plans for our partnership and the value it will bring to our joint customers.”
Alibaba Cloud and Denodo are united in their commitment to empowering enterprises to thrive in the digital age through data-driven insights and seamless integration. This partnership marks the beginning of an exciting journey towards unlocking the full potential of data virtualization in the Alibaba Cloud ecosystem.
The Denodo Platform for Alibaba Cloud will be featured in its full glory at Denodo’s annual user conference – DataFest – in Singapore on July 13, in which Yuan will address the Denodo customers in a keynote presentation about the product offering along with Denodo’s Executive Vice President and Chief Technical Officer, Alberto Pan.
Denodo is a leader in data management. The award-winning Denodo Platform is the leading data integration, management, and delivery platform using a logical approach to enable self-service BI, data science, hybrid/multi-cloud data integration, and enterprise data services. Realizing more than 400% ROI and millions of dollars in benefits, Denodo’s customers across large enterprises and mid-market companies in 30+ industries have received payback in less than 6 months. For more information, visit www.denodo.com or call +1 877 556 2531 (US) / +44 (0) 20 7869 8053 (UK) / +65 6950 7489 (Singapore).
About Alibaba Cloud
Established in 2009, Alibaba Cloud (www.alibabacloud.com) is the digital technology and intelligence backbone of Alibaba Group. It offers a complete suite of cloud services to customers worldwide, including elastic computing, database, storage, network virtualization services, large-scale computing, security, management and application services, big data analytics, a machine learning platform and IoT services. Alibaba maintained its position as the third leading public cloud IaaS service provider globally since 2018, according to IDC. Alibaba is the world’s third leading and Asia Pacific’s leading IaaS provider by revenue in U.S. dollars since 2018, according to Gartner.
Business Intelligence, Big Data Management, Data Science
Business Wire | August 16, 2023
Census, a leading data activation and reverse ETL platform, today announced its expanded partnership with Databricks, making it easy for customers to activate data with a few simple clicks on Partner Connect. Census connects Databricks to 200+ SaaS tools without needing to build and maintain custom pipelines, so business users have a single source of truth that is current, complete, and consistent.
Teams can now sync the outputs of their AI/ML models along with other first-party data into marketing automation hubs, customer service tools, and other business platforms to help drive business outcomes. By leveraging a single source of truth in the data lakehouse, companies can build a Composable Customer Data Platform with Databricks to drive more personalized experiences and improve customer conversion and retention.
“Today’s most innovative brands are exploring opportunities to utilize first-party data in their day-to-day operations,” said Steve Sobel, Global Industry Leader for Communications, Media & Entertainment at Databricks. “Census joining Partner Connect will allow more companies to easily activate the data lakehouse and drive meaningful change in how their teams use data to connect with consumers.”
With Census now a part of Databricks’ Partner Connect program, the integration between the platforms is even more seamless. Users can now access Census directly from the Databricks UI and unlock sales and marketing use cases such as:
Building a lead scoring model based on actions taken in your web or mobile application and automatically routing high-value leads to sales managers at the right time.
Targeting and segmenting customers with predictive models like Lifetime Value or churnRemoving engaged customers from high-cost advertising campaigns to optimize your ad spend.
Syncing aggregated usage metrics and customer journey milestones into customer support tools to prioritize large volumes of tickets.
Detecting drop in product usage and alerting the assigned customer success manager to prevent revenue churn.
“We are thrilled to announce that Census now integrates even more seamlessly with Databricks,” said Boris Jabes, CEO of Census. “The data lakehouse is transforming how businesses leverage data and we are excited to see how our partnership with Databricks improves operations and impacts revenue.”
To get started with Census on Databricks Partner Connect, schedule a free demo here and start expanding the capabilities of your lakehouse.
Census is the leading Data Activation platform for syncing data from the data lakehouse to SaaS tools so business teams can take smarter, faster action. Census turns the lakehouse into a hub for business operations, empowering everyone with trustworthy and actionable data. With its reverse ETL (extract, transfer, and load) tool, data teams can validate and publish data and analytics directly into all their applications in real-time. Hundreds of companies like Canva, Figma, Loom, and Notion use Census to sync billions of records to empower their customer success, sales, and marketing teams. Census is backed by Andreessen Horowitz, Insight Partners, Sequoia, and Tiger Global. For more information, visit https://www.getcensus.com.