Alteryx Raises $12 Million to Put Big Data Analytics in the Hands of All Business Analysts Quest Founder's Firm, Toba Capital, Selects Alteryx as its First Analytics Investment - with Renewed Investment from SAP Ventures to Further Fuel Focus on Humanizing Big Data
IRVINE, Calif., May 20, 2013 /PRNewswire/ -- 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.
*Gartner, Inc., Magic Quadrant for Business Intelligence and Analytics Platforms, Kurt Schlegel, Rita L. Sallam, Daniel Yuen, and Joao Tapadinhas, February 5, 2013. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About SAP Ventures
SAP Ventures is an independent venture capital firm that invests in innovative and disruptive software and services companies globally. We are focused on growth and later-stage opportunities, with a primary goal of generating outstanding financial return. SAP Ventures is affiliated with SAP AG and brings benefits to all parties by facilitating interaction between portfolio companies, including SAP and its ecosystem of customers and partners. Since 1996 SAP Ventures has had a successful track record of building industry-leading companies by partnering with outstanding entrepreneurs and top-tier venture capital firms. For more information, visit www.sapventures.com. SAP and all SAP logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries. All other product and service names mentioned are the trademarks of their respective companies.
About Toba Capital
Toba Capital is a venture firm focused on enterprise software and infrastructure. Toba backs entrepreneurs building transformative businesses, both as an investor and as an ongoing operational partner. The firm was founded by Vinny Smith, the founder of Patrol Software and former CEO of Quest Software.
About Alteryx, Inc.
Alteryx provides an indispensable and easy-to-use analytics platform for enterprise companies making critical decisions that drive their business strategy and growth. Alteryx Strategic Analytics runs analytic applications that empower executives to identify and seize market opportunities, outsmart their competitors, increase customer loyalty and drive more revenue. It Humanizes Big Data by enabling business analysts and Data Artisans to combine Big Data with market knowledge, location insight, and business intelligence; easily perform predictive and spatial analytics; and produce analytic apps that can be shared via the private cloud or the Alteryx Analytics Gallery public cloud. Customers like Experian Marketing Services and McDonald's rely on Alteryx daily. Headquartered in Irvine, California, and with offices in Boulder and Silicon Valley, Alteryx empowers 250+ customers and 200,000+ users worldwide. Visit Alteryx, the leader in Strategic Analytics, today at www.alteryx.com or call 1-888-836-4274.
Alteryx is a registered trademark of Alteryx, Inc.
SOURCE Alteryx, Inc.