ThoughtSpot Buys Business Intelligence Platform Mode
June 27 2023
In the US, AI-based analytics company ThoughtSpot is to acquire business intelligence platform Mode Analytics, in a deal valued at $200m.
Mode Analytics acts as a central hub for an organization’s analysis, uniting data and business teams from every relevant function to drive business outcomes. The platform integrates data from SQL, R and Python, along with data viz, with the aim of delivering insights faster; and it supports ad hoc analysis alongside self-serve reporting, advanced analytics, and custom data apps.
Following the acquisition, Mode will become a wholly-owned subsidiary of ThoughtSpot, whose technology allows clients to instantly analyze billions of rows of data, and gain insightful answers to thousands of questions, assisted by AI. ThoughtSpot says that with very little customer overlap the 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 channel and partner alliances.
ThoughtSpot CEO Sudheesh Nair (pictured) comments: ‘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. 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’.
Web sites: www.thoughtspot.com and www.mode.com .
