Alteryx Bags $6M Series A

Alteryx, the California-based developer of business intelligence software, raised $6 million from SAP Ventures Fund I to expand its development and for potential acquisitions. In conjunction with the new funding, Jai Das, Managing Director with SAP Ventures, joins the Alteryx, Inc., Board of Directors.

PRESS RELEASE:
ORANGE, Calif., April 5, 2011 — Geographic Business Intelligence® software developer Alteryx, Inc., today announced a $6 Million investment by SAP Ventures Fund I. The investment will support accelerated growth opportunities requiring infrastructure buildout, expanded go-to-market execution and possible acquisitions. In conjunction with the new funding, Jai Das, Managing Director with SAP Ventures, joins the Alteryx, Inc., Board of Directors.
“Alteryx is going to be a significant player in the sea-change occurring in Business Intelligence (BI) and SAP Ventures is excited to be part of this unfolding story,” said Jai Das. “The agility, flexibility and particularly unique spatial processing component of the Alteryx software makes this an opportunity not only for Alteryx customers, but investors like SAP Ventures.”
Alteryx delivers its ground-breaking geographic business intelligence software and solutions to Fortune 500 and mid-market companies in the Automotive, Retail, Commercial Real Estate, Telecommunications, Cable, Manufacturing and Finance industries. Alteryx also serves local and federal government customers and supports a network of leading universities and colleges through its educational grant program. Alteryx technology is delivered in desktop, server and public/private cloud computing environments.
The investment comes at an opportune time in the evolution of BI software. In an April 2010 independent report by Forrester Research, Inc., entitled Agile BI Out Of The Box: “[there is] an emergence of a new generation of metadata-generated BI applications that BI professionals should consider — not as a replacement for traditional BI, not yet — but for specific use cases such as complementing traditional BI, generating data marts from the enterprise data warehouse (EDW), and delivering rapid BI application prototypes.”
“Our work flow approach to delivering end-to-end business intelligence has proven successful for business executives in nearly every industry. This approach is taking business intelligence processes and analytics to a new level,” offered Dean Stoecker, president and CEO of Alteryx. “This investment from SAP Ventures will help us fuel the growth engine supported by the excitement and success of a burgeoning community of customers around the world.”
The new funding will help Alteryx accelerate its market momentum, customer acquisition growth and global expansion. The announcement follows 14 years of consecutive top- and bottom-line growth including 30 percent year-over-year growth and record customer acquisition in 2010.