Alteryx, Inc. has given details of 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 recognises 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 organisations data literacy and analytic prowess.
“We are energised by the self-service analytics momentum in the market and honoured 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.”
