ThoughtSpot was founded in 2012 by a team of engineers who previously worked for Google, Oracle, Microsoft, Yahoo, and other Silicon Valley companies. The CEO and Co-founder, Ajeet Singh, previously co-founded the company Nutanix. In 2016, ThoughtSpot was named a "Cool Vendor in Analytics" by Gartner. In 2017, the company announced that it was included in Gartner Magic Quadrant for Business Intelligence and Analytics Platforms report. Later, Gartner added Thoughtspot in the leaders' quadrant for Analytics and BI platforms for the years 2019 and 2020. ThoughtSpot was included in Red Herring's Top 100 North American Companies list.