ThoughtSpot, an AI-powered analytics platform, today announced that it’s entered into a definitive agreement to acquire Mode Analytics, a business intelligence startup, for $200 million in cash and stock. The deal, ThoughtSpot CEO Sudheesh Nair says, will bolster ThoughtSpot’s generative AI capabilities while doubling the company’s customer base and growing its annual recurring revenue to more than $150 million. “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,” Nair said in a press release issued this morning. Mode, which TechCrunch last covered in August 2020, was co-founded by Derek Steer, Benn Stancil and Josh Ferguson in 2013. All three previously worked at Yammer (they were early employees and stayed on after the Microsoft acquisition), where they were a part of a larger team building custom data analytics tools for the Yammer platform. Steer told my colleague Ingrid Lunden that the impetus for Mode came out of gaps in the market that the three had found through …

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