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Alteryx

Alteryx, Inc. is an American computer software company founded in 1997 by Dean Stoecker. It is based in Irvine, California and develops products using data science and analytics.[2][3][1] It was acquired by private equity companies in December 2023.

History

SRC LLC, the predecessor to Alteryx, was founded in 1997 by Dean Stoecker, Olivia Duane Adams and Ned Harding.[4]

In 2000, SRC LLC entered into a contract with the U.S. Census Bureau that resulted in a modified version of its Allocate software being included on CD-ROMs of Census Data sold by the Bureau.[5][6]

In 2006, the software product Alteryx was released, which was a unified spatial and non-spatial data environment for building analytical processes and applications.[7]

In 2010, SRC LLC changed its name to that of its core product, Alteryx.[8]

In 2011, Alteryx raised $6 million in venture funding from the Palo Alto investment arm of SAP AG, SAP Ventures.[4] In 2013, Alteryx raised $12 million from SAP Ventures and Toba Capital.[9][10] In 2014, the company raised $60 million in Round B funding[2][3] from Insight Venture Partners, Sapphire Ventures (formerly SAP Ventures) and Toba Capital.[11]

In 2015, ICONIQ Capital led an $85 million investment in Alteryx, with Insight Venture Partners and Meritech Capital Partners also participating.[12][13][14]

On March 24, 2017, Alteryx went public in an IPO listed on the NYSE.[15] At the time, Alteryx's core service was to assemble information from Experian and public sources like the U.S. Census Bureau to create their product which sold for 39,000 per license.[16]

In October, it was discovered that Alteryx was subject to a data breach of 248 fields of partially anonymized data records for approximately 120 million U.S. households.[17] Also included was "consumer demographics, life event, direct response, property, and mortgage information for more than 235 million consumers" according to the company.[18] Alteryx's hosting on Amazon Web Services had been unsecured (its sources had no breach).[16]

In October 2020, Alteryx announced Mark Anderson as CEO, with Stoecker becoming Executive Chairman of the Board of Directors.[19]

In December 2023, it was announced that two private equity firms, Clearlake Capital and Insight Partners, would acquire the company in a US$4.4 billion deal, intending to make it private.[20][21][22] On March 19, 2024, the transaction was completed.[23]

Acquisitions

In January 2017, Alteryx acquired Prague-based software company Semanta. Alteryx Connect is an outgrowth of the Semanta acquisition.[24]

In April 2019, Alteryx acquired ClearStory Data for $19.6 million in cash.[25]

In October 2019, Alteryx acquired Feature Labs, a machine learning startup known for developing Featuretools, an open source library for automated feature engineering with over 350,000 downloads at the time of acquisition. The acquisition added an engineering hub for Alteryx in Boston, Massachusetts.[26]

In October 2021, Alteryx acquired Lore IO, a no-code AI-enabled data modeling platform.[27] That same month, Alteryx acquired Hyper Anna, a cloud platform for generating AI-driven automated insights from data.[28]

In January 2022, Alteryx acquired Trifacta for $400million in cash, with the deal closing the following month.[29] In March 2022, Alteryx announced its Analytics Cloud Platform, which it updated to integrate Designer Cloud powered by Trifacta.[30]

External links

References

  1. US SEC: Form 10-K Alteryx, Inc. U.S. Securities and Exchange Commission, February 6, 2024^
  2. Heather Clancy. Another day, another $60 million analytics funding round Fortune, 6 October 2014^
  3. Alicia Wallace. Boulder's Alteryx Inc. raises $60 million Daily Camera, 7 October 2014^
  4. Steven Brown. SAP Ventures invests $6M in Alteryx Inc. San Francisco Business Times, 5 April 2011^
  5. Jan Norman. Census deal for O.C. firm The Orange County Register, 17 July 2001^
  6. SRC organizing census data Daily Camera, 5 July 2001^
  7. SRC Corporate Overview retrieved 2014-10-16^
  8. US SEC: Form 10-K Alteryx, Inc. U.S. Securities and Exchange Commission, retrieved March 5, 2022^
  9. Chris Casacchia. Toba in $12M Round for Big Data Analytics Firm Orange County Business Journal, 18 May 2013^
  10. Alteryx Raises $12M For Data Analytics Platform That Shapes Data Into Apps TechCrunch, 20 May 2013^
  11. Joshua Lindenstein. Alteryx Inc. nets $60 million in funding BizWest, 6 October 2014^
  12. Ron Miller. Alteryx Scores $85 Million As Growth Spurt Continues TechCrunch, 2015-10-28, retrieved 2023-04-01^
  13. Leslie Picker. Iconiq Capital Leads $85 Million Investment in Alteryx The New York Times, 2015-10-28, retrieved 2015-10-28^
  14. Lauren Williams. Data firm Alteryx secures $85M investment, could make "unicorn" list Orange County Register, 2015-10-28^
  15. Alteryx IPO Draws Strong Interest In Hot Data-Analytics Field Investor's Business Daily, 2017-03-23, retrieved 2023-04-01^
  16. Hackett, Robert. Data Breach Exposes 123 Million U.S. Households Fortune: Time, Inc., December 22, 2017, retrieved December 23, 2017^
  17. Fox-Brewster, Thomas. "120 Million American Households Exposed In 'Massive' ConsumerView Database Leak". Forbes. Retrieved 2018-12-24.^
  18. Thomas Fox-Brewster. 120 Million American Households Exposed In 'Massive' ConsumerView Database Leak Forbes, retrieved 2018-12-24^
  19. Eric Avidon. Alteryx makes personnel changes to navigate cloud journey TechTarget, February 23, 2022, retrieved May 24, 2023^
  20. Software firm Alteryx to be taken private in $4.4 bln deal Reuters, 18 December 2023, retrieved 21 December 2023^
  21. Alteryx to be acquired by private equity firms for $4.4 billion Business Analytics, retrieved 2023-12-21^
  22. Alteryx, Databricks expand complementary partnership Business Analytics, retrieved 2024-02-16^
  23. Clearlake Capital Group and Insight Partners Complete Acquisition of Alteryx MarketScreener, 19 March 2024, retrieved 2024-03-22^
  24. Alteryx's Acquisition of Semanta – Global Legal Chronicle 18 July 2017, retrieved 2019-12-15^
  25. Alteryx's (AYX) ClearStory Data Buyout Strengthens Portfolio finance.yahoo.com, 9 April 2019, retrieved 2019-12-15^
  26. Feature Labs launches out of MIT to accelerate the development of machine learning algorithms TechCrunch, 22 February 2018, retrieved 2019-12-15^
  27. Shaoni Ghosh. Alteryx acquires Lore IO to leverage data access for cloud data Analytic Steps, October 26, 2021, retrieved May 1, 2023^
  28. Eric Avidon. Alteryx acquisition of Hyper Anna adds AI capabilities TechTarget, October 7, 2021, retrieved May 1, 2023^
  29. Tony Baer. Alteryx announces intent to buy Trifacta ZDNet, 2022-01-07^
  30. Eric Avidon. Alteryx makes Analytics Cloud GA, adds new tools TechTarget, February 16, 2023, retrieved May 4, 2023^