How existing investors doubled down on ThoughtSpot and turned it into a unicorn

A Palo Alto-based AI-driven analytics firm ThoughtSpot wanted to raise only $70 million but ended up with more than double that sum at $145 million. The amount eventually helped the company put itself among a raft of Indian-led unicorns based in the Silicon Valley, with a value of over $1 billion. Interestingly, most of the funding in the round came from existing investors (Lightspeed Ventures, Future Fund, Khosla Ventures, and General Catalyst), who had so much faith in the company that there remained hardly any room for new investors.

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