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.
About ThoughtSpot
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.
About Mode
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.
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Business Intelligence, Big Data Management
businesswire | July 10, 2023
Lantern Limited (“Lantern” or the “Company”), a pioneering private equity data platform and technology provider, has today launched a suite of fund and portfolio monitoring products designed to improve performance at private equity firms and their portfolio companies.
Lantern combines deep private equity knowledge and experience with highly skilled data scientists and engineers to provide powerful data analytics and visualisation technology. The Company is founded by industry veteran Edward Moore, Founder, Chairman and former CEO of global fund administrator Aztec Group, which has supported the seed funding for Lantern’s launch.
In what is becoming a challenging business and fundraising environment, private equity firms are increasingly focusing on ways to improve their operational processes and enhance their performance to give them a competitive edge. Lantern, whose platform is built specifically for the private equity industry, has identified a ‘data analytics gap’ in the market and a need for private equity firms to benefit from data-driven insights and help managers unlock the full potential of their funds and portfolio companies.
“Over recent years, we’ve seen a significant uptick in fundraising which is driving an increasingly competitive market,” said Edward Moore, Founder and CEO of Lantern. “Combined with the macro-economic headwinds that our clients are now experiencing, we are seeing many firms pause and reflect on the levers they can pull to drive fund and portfolio performance. In a data rich environment optimising the management and use of data is increasingly seen as critical for each step of the investment process. Lantern puts cutting-edge technology and tailored PE data analytics that were previously the preserve of the very largest managers, within the grasp of every private equity firm.”
Lantern leverages and seamlessly connects fully audited, real-time and granular datasets to provide clients with a single source of truth and a robust picture of the fund universe that’s unrivalled in its accuracy.
Lantern fund monitoring provides performance dashboards to showcase and benchmark critical KPIs including NAV, IRR, DPI, RVPI and TVPI, as well as investment transactions and operational metrics such as fund fees and cash-on-cash returns. Lantern portfolio monitoring automates data collection and validation for GPs, enabling firm-wide access to actionable insights and enhanced decision-making.
“At Lantern, we're on a mission to create the go-to private markets platform hosting the most trusted data sets, curated by the brightest minds and powered by the best technology,” continued Moore. “We believe that by breaking down data silos, augmenting data where additive and by making data more accessible and transparent we can deliver better understanding, support better decision making and ultimately drive enhanced performance for private equity firms and their investors. This technology really does have the potential to revolutionise how the industry sees and uses its data.”
The rich data information and visualisation platform, which has been in development for the last two years and started life as a project within parent company Aztec Group’s Innovation Team, has been built in close collaboration with private equity firms, with over 10 leading GPs involved in beta-testing, including growth investor, Highland Europe.
“As one of Lantern’s pathfinder clients, we’ve seen first-hand the speed at which the software has developed,” said Ronan Shally, Partner and CFO, Highland Europe. “Lantern’s technology has given us access to fund-level data and insights, through a beautifully intuitive platform. It’s the start of something I believe could be a game-changer in the market.”
Lantern is currently working on a suite of other products that are currently in beta, including investor dashboards and proprietary benchmarks.
About Lantern
Founded in 2022, Lantern provides platform technology to make private equity data accessible and insightful for LPs and GPs, by combining high-quality market data with intuitive visualisation tools. Built on cutting-edge data science and using live, audited and granular data, Lantern is a ground-breaking solution to interrogate and monitor fund and portfolio-level data, benchmark against peers and drive performance. Lantern is a wholly owned subsidiary of Aztec Group.
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Business Intelligence, Big Data Management, Big Data
Accesswire | July 24, 2023
Global B2B customer data platform LeadGenius has announced the expansion of specific AI initiatives. These include incorporating Large Language Processing (aka Natural Language Processing, or NLP) into a data lake comprising more than 400 million international contacts across 20 million verified accounts spread across 189 countries around the world. Additionally, LeadGenius has contact insights on over 100,000 individuals in over 130 countries world wide.
In addition, LeadGenius is creating a novel tagging system that will provide a new level of personalization and segmentation. This marks the company's latest advancement in AI and a significant expansion of its precision data platform.
These moves are part of the company's recent acquisition of WhoKnows, a firm that provides predictive analytics and AI-driven data insights; however, the integration of these advanced AI capabilities will be featured as part of the new LeadGenius Dashboard and their Plays feature. The integration of NLP technology will empower customers with finely tuned marketing segmentation and world class insights providing never before seen custom signals designed for lead generation and marketing campaigns.
"LeadGenius has always been at the forefront of innovation in the custom data space, and our latest enhancements underscore that commitment," says Zeb Couch, VP of Sales and Customer Success. "With the introduction of Large Language Processing and Natural Language Processing to our data lake, we are able to provide a significantly wider range of data analysis and personalized marketing strategies."
The new tagging system, a key aspect of this AI-driven evolution, was developed in response to a growing need for precise, individualized data segmentation. This AI-enhanced feature enables customers to segment their audience based on a multitude of parameters, from personal interests to professional affiliations, providing a level of granularity that yields more personalized marketing strategies and better engagement rates.
"These capabilities represent a game-changing advancement for LeadGenius and its customers," Couch continues. "With our innovative tagging system, businesses can develop highly targeted marketing campaigns that are more likely to resonate with potential customers. This not only streamlines the lead generation process but also increases the chances of converting prospects into loyal customers."
Moreover, the integration of WhoKnows' technology further enhances LeadGenius' AI capabilities, providing customers with predictive and prescriptive analytics to drive effective marketing and sales strategies. The acquisition has greatly accelerated the company's roadmap, allowing LeadGenius to deliver even more value to customers by leveraging WhoKnows' AI-powered personalization and segmentation technology.
"The integration of WhoKnows' technology into our existing platform has given us the ability to deliver an unmatched level of personalization and segmentation," Couch affirms. "We're thrilled about the benefits that this will bring to our customers, including the ability to reach the right person with the right message at the right time."
LeadGenius Plays, part of the new customer-facing dashboard, allows clients to visualize and interact with the enriched data in real time. It offers a user-friendly interface where clients can readily access and explore their personalized data sets. It further integrates with the company's existing suite of services, providing a unified, comprehensive platform for B2B data and sales intelligence.
"LeadGenius Plays gives our customers a hands-on experience with their enriched data," Couch adds. "It's more than just a dashboard-it's an interactive platform where customers can dive deep into their data, understand their audience, and craft highly effective, targeted marketing campaigns."
With this expansion, LeadGenius continues its pursuit of pioneering AI solutions for B2B customer data and lead generation. The company's commitment to delivering value to its customers remains unwavering, demonstrated by this leap in data analytics, personalization, and segmentation. LeadGenius hopes to reinvent its platform and reshape the B2B customer data landscape via empowering businesses to understand their audiences better.
About LeadGenius
LeadGenius is a global provider of B2B data intelligence. The company delivers precise data and account signals to businesses, powering unique insights and enabling go-to-market leaders to find their next great customer. LeadGenius's unique blend of NLP technology, machine learning, and human intelligence sets them apart, allowing them to provide precise and compliant data solutions to their Fortune 1000 customers.
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