Monday, May 20, 2013

Alteryx Raises $12 Million for its Analytics Platform

Alteryx announced $12 million in financing from Toba Capital (recently formed by Vinny Smith, former CEO and founder of Quest Software) and existing investor, SAP Ventures for its analytics platform.

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.

"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."