Data 'Blending' Firm Alteryx Gets $60m Investment

Advanced analytics provider Alteryx Inc. has announced a $60m investment round, led by Insight Venture Partners. The funds will allow it to expand its capacity, partner channels and innovation efforts in response to ' burgeoning global demand'.

Jeff Horing, Managing Partner at Insight Venture Partners, will join Alteryx' Board of Directors. Existing investors SAP Ventures and Toba Capital also participated in the round.

The Alteryx platform allows analysts to blend internal, third party and cloud data, and analyze it using spatial and predictive drag-and-drop tools - all via a single workflow and with no programming required. The firm boasts a customer base of more than 600 organizations in over 20 countries, and has partnerships with software and services firms including Qlik Technologies, DataSift, Slalom Consulting, Tableau and Cloudera. It opened its first overseas office in London in April of this year.

According to Horing: 'Empowering analysts to use all the data available to them, while also making it easy for data analysts to produce advanced analytics is enabling Alteryx to expand its total addressable market through increased user adoption and greater demand for its product'. Alteryx CEO Dean Stoecker (pictured) comments: 'We are thrilled to have a firm like Insight Venture Partners join our team... This latest funding round ... will allow us to deliver continuously enhanced personal data blending and analytics experiences to even more analysts.'

Web site: www.alteryx.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.