Big Data Analytics Company Alteryx Raises $12 Million
Alteryx is a business intelligence company that helps data analysts determine ways to accelerate growth. Alteryx has raised $12 million in funding from SAP Ventures and Toba Capital. Alteryx has raised a total of $18 million thus far and SAP participated in the first round also.
Alteryx plans to use the funding to support accelerated growth by adding sales, marketing, and product investment team members. Along with hiring additional talent, Alteryx is going to use the funding for international expansion.
Toba Capital is a venture capital company that was founded by former Quest founder and CEO Vinny Smith. Smith sold Quest to Dell last year for $2.4 billion.
“Alteryx is enabling our customers to Humanize Big Data and answer the critical business questions that can accelerate their growth,” stated Alteryx chairman and CEO Dean Stoecker. “But to find these answers, business analysts need better tools than spreadsheets and other technologies created decades ago. Alteryx puts affordable, powerful big data analysis tools in the hands of analysts, and our solutions facilitate complex tasks and the ability to obtain insights from diverse data sets that were once thought impossible to achieve.”
In the past year, Alteryx signed a partnership with Tableau, Teradata, Cloudera, and Hortonworks. Alteryx integrates its data blending and advanced spatial analytics with big data infrastructure and visualization platforms through one unified solution for all big data analytic needs.
Alteryx launched a new product two weeks ago called Project Edition. Project Edition is a free version of their Analytic Designer program that gives business analysts and easy way to blend data from a wide variety of data sources to perform advanced analytics and deliver analytic output to decision makers at an organization.
Alteryx also launched Alteryx Strategic Analytics Platform version 8.5, which has social media tool enhancements. It also has the first native creation of the Tableau Data Extract, advanced interactive mapping, and a new designer interface designed for line-of-business analysts.
Founded in 1997 by Dean Stoecker, Olivia Duane Adams, and Ned Harding, Alteryx is based in Irvine, California with offices in Boulder and Silicon Valley. The company has 250 customers and 200,000 users worldwide.