Alteryx Secures $85 Million Investment To Address The Data Blending And Analytics Needs Of 260 Million Underserved Data Workers
Led by Iconiq Capital and Insight Venture Partners to Drive Generational Shift in Analytics and Fuel Exponential Growth
IRVINE, Calif., Oct. 28, 2015 /PRNewswire/ -- Alteryx, Inc., the leader in data blending and advanced analytics, today announced an $85 million investment round led by firms Iconiq Capital and Insight Venture Partners. Meritech Capital Partners also participated. This latest investment will accelerate the generational shift in analytics where the drive toward "Data Literacy," coupled with self-service analytic tools, is re-engaging a broader set of data workers. Alteryx will leverage this investment to enable the over 260 million data workers with the perfect platform for self-service data blending and advanced analytics. Alteryx currently is serving over 1,000 customers across all major industry groups and ranging from Global 2000 enterprise to SMBs on all continents.
"Alteryx is leading the revolution in business-user-driven Data Analytics similar to what Tableau did for business-user-driven Visual Analytics and Splunk did for IT-driven Operational Analytics," said Jeff Horing, managing partner at Insight Venture Partners. "Companies like this don't come along very often. As evidenced by their end user excitement, Alteryx has the perfect platform to engage and empower today's growing number of data workers. We anticipate Alteryx will continue to drive this massive shift in the self-service analytics market."
These investment firms bring the experience and ability to help continue scaling growth while maintaining industry leading levels of customer success. Alteryx recognizes the need to bring better self-service tools to help further mainstream analytics as the category continues to grow. Through self-service data analytics, Alteryx sees line-of-business users as the catalyst for change in their organizations data literacy and analytic prowess.
"We are energized by the self-service analytics momentum in the market and honored to have firms like Iconiq Capital, Insight Venture Partners, and Meritech Capital Partners by our side as we grow," said Dean Stoecker, CEO of Alteryx. "What motivates us each day are our engaged customers and the millions of data workers who deserve a better analytics solution. This funding will enable us to fuel continuous product innovation and global market leadership."
The company has addressed the huge demand for its self-service data blending and analytics product in over 40 countries with 150 partners. This year Alteryx grew its global presence by expanding its European and Australian operations. The company continued to broaden its technology partner relationships with companies such as Amazon, Microsoft, Qlik and Tableau to bolster a stronger ecosystem. Alteryx also hosted its largest user conference, Inspire 2015, in May, bringing Analytic Independence to more than 1,000 attendees from over 20 countries and including customer speakers such as Audi, easyJet, EMC, The Home Depot and more.
From an industry perspective, Alteryx was positioned as a Visionary by Gartner Inc.1 in both the 2015 Magic Quadrant for Business Intelligence and Analytics Platforms and the 2015 Magic Quadrant for Advanced Analytics Platforms. In May, Alteryx was named by Qlik® as its 'Technology Partner of the Year.' In September, Alteryx Analytics 10.0 was released to bring a modern and intuitive self-service analytics experience and included more access to Big Data and Cloud analytics sources for easier data blending. Alteryx recently announced it is the first company to partner with Microsoft Power BI to bring data blending and analytics and output directly to Power BI for visualization.
About Iconiq
ICONIQ Capital is a global multi-family office and merchant bank for a group of influential families.
About Insight Venture Partners
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies driving transformative change in their industries. Founded in 1995, Insight has raised more than $8 billion and invested in more than 200 companies worldwide. Our mission is to find, fund and work successfully with visionary executives providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of our investments, visit www.insightpartners.com or follow us on Twitter at @insightpartners.
About Meritech Capital Partners
Meritech Capital Partners is a leading provider of late-stage venture capital to category-defining private technology companies, and has been one of the top performing venture firms of the past decade. With over $3 billion under management, Meritech primarily leads investments into companies with proven and differentiated technology, rapidly-growing revenue and experienced management teams. With one of the most active venture portfolios in Silicon Valley, Meritech provides guidance on issues facing rapidly growing companies including management incentive plans, IPO market timing and positioning, M&A strategies and negotiations and adviser selection. Meritech investments in industry-leading companies include Acclarent, Box, Cloudera, Cornerstone OnDemand, Facebook, Fortinet, Fusion-io, Greenplum, Hybris, Netezza, NetSuite, Proofpoint, PopCap, Riverbed, Salesforce.com, Sourcefire, Tableau and Zulily. Meritech is located in Palo Alto, CA and can be found at www.meritechcapital.com. Follow Meritech on Twitter at @MeritechCapital.
About Alteryx, Inc.
Alteryx is the leader in data blending and advanced analytics software. Alteryx Analytics provides analysts with an intuitive workflow for data blending and advanced analytics that leads to deeper insights in hours, not the weeks typical of traditional approaches. Analysts love the Alteryx analytics platform because they can deliver deeper insights by seamlessly blending internal, third party, and cloud data, and then analyze it using spatial and predictive drag-and-drop tools. This is all done in a single workflow, with no programming required. Thousands of data analysts worldwide rely on Alteryx daily. Visit www.alteryx.com or call 1-888-836-4274.
Alteryx is a registered trademark of Alteryx, Inc. All other product and brand names may be trademarks or registered trademarks of their respective owners.
1Gartner, Inc., Magic Quadrant for Business Intelligence and Analytics Platforms, [Rita L Sallam, Bill Hostmann, Kurt Schlegel, Joao Tapadinhas, Josh Parenteau and Thomas Oestreich], Feb 23, 2015 and the Gartner, Inc., Magic Quadrant for Advanced Analytics Platforms, [Gareth Herschel, Alexander Linden and Lisa Kart], February 19, 2015. 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 or other designation. 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.
SOURCE Alteryx, Inc.
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