Alteryx, Inc., the leading provider of Strategic Analytics, today announced that it has received $12 million in financing from Toba Capital (recently formed by Vinny Smith, former CEO and founder of Quest Software) and existing investor, SAP Ventures. This financing will support accelerated growth through added sales, marketing and product investments, along with international expansion.
“Alteryx is enabling our customers to Humanize Big Data and answer the critical business questions that can accelerate their growth,” said Dean Stoecker, chairman and chief executive officer at Alteryx. “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 2013, Alteryx was positioned for a second year in a row within the 2013 Business Intelligence and Analytics Magic Quadrant by Gartner Inc. The company was also listed by Wikibon as one of the top 10 pure play Big Data vendors. Over the past year, Alteryx has developed partnerships with Tableau (Alteryx is one of the first analytic platforms to be able to create Tableau file formats natively), Teradata, Cloudera and Hortonworks. This is to integrate its data blending and advanced spatial and predictive analytics with the best-in-class big data infrastructure and visualization platforms, which provides customers with one unified solution for all of their big data analytic needs. The new financing will help accelerate this momentum.
“Toba is committed to investing in companies that deliver real value to their customers, redefine existing markets and have the potential for outsized growth,” stated Smith, founder of Toba Capital. “CMO’s, CFO’s and other line-of-business organizations are realizing the immense business value in applying analytics to drive change and success in their organization. Alteryx alone addresses their needs without sacrificing power to usability.”
“SAP Ventures saw the potential in Alteryx in 2011 when we first invested in the company, and we’ve watched this company thrive and bring continued value to its extensive customer base,” added Jai Das, managing director with SAP Ventures and an Alteryx board member. “Alteryx is one of the few analytics platform providers which has the right mix of cloud, Big Data and predictive analytics capabilities to be able to leverage the massive changes in the analytics market and grow rapidly to become one of the leading analytics companies.”
Alteryx Expands Product Footprint
Two weeks ago, Alteryx released Project Edition, a free version of its Analytic Designer that further supports the Humanization of Big Data by putting powerful analytics into the hands of any business analyst. Project Edition is unique in providing business analysts with an easy and intuitive way to rapidly blend data from a wide range of data sources, perform advanced analytics, and deliver relevant analytic output to business decision makers.
In concert with Product Edition, the 8.5 version of the Alteryx Strategic Analytics Platform is now generally available. Alteryx Strategic Analytics 8.5 includes significant enhancements such as social media tools for analytics, the first native creation of the Tableau Data Extract, advanced interactive mapping, and a new designer interface specifically designed for line-of-business analysts. With its new support for delivering output in the native Tableau file format, Alteryx makes it easy for business and data analysts to prepare an analytic data set in Alteryx and visualize it in Tableau.