ThoughtSpot Launches New Editions for Individuals and Teams to Democratize the Modern Analytics Cloud
New edition enables companies of any size to take advantage of the Modern Analytics Cloud and build their business on data, paying only for what they use instead of shelfware licenses sold by traditional analytics vendors
ThoughtSpot, the Modern Analytics Cloud company, announced the launch of three new editions: Team Edition, Pro Edition, and a special bundle for startups, nonprofits, and education institutions. These are the first offerings from the company specifically for small teams and individuals. As part of these editions, ThoughtSpot also announced a consumption-based pricing model, where customers pay only for what they use instead of wasting resources on shelfware licenses sold by traditional analytics providers.
Today, customers can get started with Team Edition for a flat fee of $95 per month for a single user-group with unlimited users. Pro Edition starts at $2500 per month for up to 5 user-groups with unlimited users. Pro Edition customers will only pay for what they consume, based on actual queries. Startups, nonprofits, and education institutions with less than 100 people and less than $10M in annual revenue can take advantage of a special flat fee offer for Pro Edition, with per query charges waived. For the most demanding enterprise deployments, ThoughtSpot Enterprise Edition provides maximum scale with unlimited users, unlimited data, unlimited user groups, and enterprise-grade support SLAs. Enterprise Edition customers will only pay for what they use based on actual queries.
The new editions were unveiled alongside a major expansion to the company’s platform capabilities at Beyond, ThoughtSpot’s annual customer conference. Combined with these new editions, the announcements significantly advance the company’s product-led growth strategy.
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“The kinds of transformational value our customers have been able to achieve with ThoughtSpot is simply astounding. Seeing truly is believing when it comes to the Modern Analytics Cloud. The way our business model was built, however, meant that many smaller organizations and teams couldn’t experience these same results firsthand”
Creating a new vector for growth
Companies have long recognized the value of their data to improve their business on multiple fronts, as research from Harvard Business Review demonstrates, but the lack of true self service analytics kept most organizations from realizing these benefits. The Modern Analytics Cloud from ThoughtSpot is the first analytics platform specifically built to deliver this self-service experience with Live Analytics. With ThoughtSpot, data is truly democratized.
Historically, ThoughtSpot was packaged to enable large deployments across organizations. With the launch of these new editions, companies can move beyond dead dashboards and put the power of Live Analytics in the hands of any size team, including individuals. With an affordable pricing model that starts at just $95 per month, the new editions meet the budgetary realities of any business. Pricing is also based on consumption, meaning customers only pay for the value they create with ThoughtSpot instead of being locked into user-based pricing and shelfware.
Leveraging the company’s SaaS platform, the new editions can be used immediately because it instantly connects to customers’ cloud data platforms like Snowflake, Databricks, Google BigQuery, AWS, Azure, and more. Just as ThoughtSpot democratizes data for any kind of user, the new editions democratize the Modern Analytics Cloud for any kind of organization.
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The next phase in cloud analytics
In tandem with the new capabilities in ThoughtSpot, today’s news advances the company’s product-led growth strategy. The new editions come as ThoughtSpot realizes significant growth, driven by the success of its cloud offerings. Recent highlights include:
- Cloud products now make up two-thirds of ThoughtSpot’s annual recurring revenue. In the last year, ARR from cloud products grew by over 175%
- In the last year, 95% of new customers purchased cloud products. Roughly half were six-figure investments.
- New cloud customers include Hubspot, Nasdaq, Finlocker, Afterpay, Tokyo Electron U.S. Holdings, Cetera, Factory14, Cohora, CarTrawler, Northmill, Frontify, Harri, OrderPay, Zoomin, Bambuser AB, Star Compliance, JustWatch
- In EMEA, Cloud ARR has increased 600% in the last year.
- 4 of the Fortune 5 companies are ThoughtSpot customers, as well as more than 25% of the Fortune 100
“Today, getting data into the hands of business users to make smarter decisions and drive better outcomes is non-negotiable. It’s essential to success. Doing so, however, requires leaders to embrace new technology and processes, while breaking free from the tools that served them in the past,” said Dawid Rasała, Chief Data Officer, Milarex. “The Modern Analytics Cloud from ThoughtSpot makes this kind of true analytics self-service real. The beauty of these new editions is that anyone can experience the difference firsthand in a free trial, and then simply use a credit card to go from trying to buying. Within minutes, you’re up and running searching and taking action on your data.”
“The kinds of transformational value our customers have been able to achieve with ThoughtSpot is simply astounding. Seeing truly is believing when it comes to the Modern Analytics Cloud. The way our business model was built, however, meant that many smaller organizations and teams couldn’t experience these same results firsthand,” said Sudheesh Nair, CEO, ThoughtSpot. “That’s why these new editions are so special to me. I want to see trailblazers in every company get their hands on ThoughtSpot and show their organizations what’s possible when they shake up the status quo. And I only want them to pay for the value they create with ThoughtSpot. Dashboards are dead, and wasting money on user licenses that sit as shelfware instead of what customers actually consume should, too.”
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