Jeff Depa Joins ThoughtSpot as New Chief Revenue Officer to Help Companies Leverage AI for All Styles of BI
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Jeff Depa joins from Gainsight to drive strategic and durable growth through go-to-market strategies across multiple products, geographies and channels that deliver long term customer value
MOUNTAIN VIEW, Calif., Aug. 15, 2023 (GLOBE NEWSWIRE) -- ThoughtSpot, the AI-Powered Analytics company, today announced that Jeff Depa has joined the company as its Chief Revenue Officer. In this role, Depa will contribute to ThoughtSpot’s strategic growth and revenue goals by maximizing profit through go to market strategies that operationalize outcomes across the entire customer lifecycle. This leadership appointment comes off the heels of a year of unprecedented growth and change for ThoughtSpot, in which the company surpassed $150M in revenue, expanded into multiple products through the acquisition of Mode, and continued down a path of global expansion.
Depa brings more than twenty years of experience helping companies achieve durable growth by building, scaling and leading customer focused, high performance teams. He has a proven track record of driving success for high-growth SaaS companies, selling multiple products to multiple segments in international markets with a product-led motion. Before ThoughtSpot, Depa was the Chief Revenue Officer of Gainsight, where he was responsible for growing and driving the global GTM organization across all segments, geographies and channels. Depa spearheaded Gainsight’s record growth across existing and new markets, including entry into APJ and the integration of acquisitions that broadened its product portfolio. Prior to that, he was CRO at Lucidworks, where he rapidly scaled the company across the globe capturing impressive market share across the Fortune 1000. Previous companies include DataStax, Oracle, and Sun Microsystems where he held sales leadership roles.
Thoughts from the Top
“Companies today need agile, trusted partners who can help them leverage data and Gen AI to drive constant, continuous cycles of innovation. While traditional sales organizations focus on how to get customers to buy the most product, the most strategic and impactful companies have made sales truly the voice of the customer. Jeff is a modern sales leader who has proven experience advocating for the customer across different products, segments and geographies, shaping every aspect of go to market around delivering exceptional customer experience. We’re excited to have him join us now as we continue to evolve as a business, and through his leadership evolve our go-to-market strategy and philosophy to match,” said Sudheesh Nair, CEO, ThoughtSpot. “Jeff’s track record driving profitable hyper-growth for SaaS companies, combined with his human first leadership style, will be critical in delivering our next phase of growth as we enter a new fiscal year and continue down our path of building a company of lasting consequence.”
“In today’s world, if you’re not making insights instantly and easily available to your teams and customers, you’re falling short. Businesses across the spectrum, from G2000 to digital natives, have an incredible opportunity to put the power of their data into the hands of every employee that allows them to easily find and curate smart, personalized, and actionable insights that deliver real business impact. The excitement from ThoughtSpot’s customers and market tailwinds of GenAI indicate we’re only just beginning to see the unprecedented growth and impact that AI-powered analytics will have on the market,” said Jeff Depa, CRO, ThoughtSpot. “I am thrilled to join the ThoughtSpot team at this juncture in our journey where we have an expanded product portfolio to meet customers wherever they are on their analytics and BI journey, from data teams to C-Suite, to frontline employees, and help solve their data challenges. This is the time to unearth net-new opportunities and drive durable growth through our product, our community, and our customers.”
Accelerating business momentum after a defining year
Depa joins ThoughtSpot as the company completes a record breaking year. Over the last twelve months, the company has seen significant momentum, including:
- The acquisition of Mode for $200M, expanding ThoughtSpot’s product portfolio to reach data teams with a code-first experience, coupled with the Company’s flagship self-serve, AI-powered natural language search experience designed for the business user. The deal increased ThoughtSpot's ARR to over $150M, doubled its customer base, and established its presence in Kolkata, India.
- Prior to the Mode acquisition, ThoughtSpot had 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.
- In March, ThoughtSpot launched ThoughtSpot Sage, an AI-Powered search experience that empowers anyone in an organization to use natural language to safely and securely explore, interact, and interrogate data, automatically generate narratives to explain insights, and augment data modeling through AI-created descriptions and synonyms to quickly prepare data for search, without sacrificing accuracy, reliability, governance, or security in the process.
- In April, ThoughtSpot completed the talent acquisition of Sagas IT Analytics, which established the company’s India Customer Center of Excellence. This was part of ThoughtSpot’s $150M investment in India over the next five years.
- ThoughtSpot has been recognized by prestigious industry accolades in the last year including being named Snowflake’s Innovation Technology Partner of the Year, featured on CRN’s 2023 Big Data 100 list, and named a leader in Embedded Business Intelligence, Analytics Platforms, and BI by G2.
ThoughtSpot is the AI-Powered Analytics company. Our mission is to create a more fact-driven world with the easiest to use analytics platform. ThoughtSpot delivers a complete platform for the modern data stack spanning the entire spectrum of business intelligence needs, from ad hoc novel analysis with a code-first approach, to code-free self-service exploration and AI-driven monitoring powered by natural language. With ThoughtSpot, every user, technical and non-technical, can limitlessly engage with live data in any popular cloud data platform the way they want to, 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 this modern data experience directly in their products and services, monetizing their data and engaging users to keep them coming back for more. Organizations like T-Mobile, BT, CVS, Snowflake, Daimler, Medtronic, Pepsico, 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.
Director of Communications, ThoughtSpot
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e4b62db8-a5bc-43e9-bab8-dea437513941
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