Driving Big Data Analytics: Alteryx Snags $12 Million In VC Funding11:40 AM EST Mon. May. 20, 2013
Big data analytics software company Alteryx has raised $12 million in venture financing, funding the company plans to use to expand its sales and marketing efforts, accelerate its international expansion and continue its product development work.
The funding comes form Toba Capital, a new investor, and SAP Ventures, which invested in the Irvine, Calif.-based company in a round of financing in 2011.
Alteryx is the latest big data company to attract the attention of the venture capital community. In the first five months of this year, big data startups and young vendors have pulled in more than $400 million in venture financing.
Alteryx markets a business analytics platform that business analysts use to combine data from multiple sources for advanced and predictive analytics tasks. Alteryx is currently on release 8.5 of its Alteryx Strategic Analytics product and earlier this month began offering a free "Project Edition" analytical application for line-of-business analysts that works with the core platform.
Alteryx works with solution providers, analytic software consultants, systems integrators and marketing service providers to sell its software. The vendor launched the Alteryx Analytic Partner Program early last year.
PUBLISHED MAY 20, 2013