Alteryx pushes data analytics for everyone, gets $60M to grow
Alteryx, a startup with software that lets everyone, even non-technical people, analyze corporate data, is announcing a $60 million funding round this morning.
Growing into a bigger provider of such tooling is the whole point of today’s round. Insight Venture Partners is leading, while SAP Ventures and Toba Capital are also participating in this round.
Alteryx applications, which are available as a cloud service or as software for companies’ on-premises data centers, enable people who know nothing about algorithm development to craft together pipelines through which to send data. The idea is to erase people’s concerns about complicated systems for storing different kinds of data, including the Hadoop open-source software, and to keep analytics jobs simple enough to help a wide variety of employees make data-driven decisions. The Alteryx software can handle data cleaning and visualization as well.
Other companies with simple data-blending and visualization capabilities include Alpine Data Labs, Chartio, ClearStory Data, and Datameer, among others. And for those who want to apply their data and statistics savvy — like data scientists — tools from startups like Domino and Sense can help. But Alteryx itself sees longtime statistics software company SAS and IBM’s SPSS software as its real competitors.
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Earlier this year Alteryx announced a partnership with Databricks, the startup that supports the Spark open-source in-memory engine for processing and analyzing data.
Looking ahead, Alteryx wants to create ways to run R programming-language functions on data already in databases and in Hadoop, a spokesman told VentureBeat in an email.
Alteryx started in 2010 and is based in Irvine, Calif. It employs 200 people, and the headcount should hit around 300 in a year. The startup claims to have accumulated 600 customers, including AAA, Chipotle, Experian, Kroger, Levi’s, and Verizon.
To date it has raised $78 million, including a $12 million round from last year.
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