Alteryx

Last updated
Alteryx, Inc.
Formerly
  • SRC, LLC (1997–2010)
  • Alteryx, LLC (2010–2011)
Company type Private (1997-2017; since 2024)
Public (2017-24)
NYSE: AYX (2017-24)
Industry Computer software
FoundedMarch 1997;27 years ago (1997-03) as SRC, LLC
Founders
Headquarters Irvine, California, United States
Area served
Worldwide
Key people
  • Kevin Rubin (Interim CEO & CFO)
  • Dean Stoecker (Executive Chairman)
  • Paula Hansen (President & CRO)
RevenueIncrease2.svg US$970 million (2023)
Increase Negative.svgUS$−165 million (2023)
Increase Negative.svgUS$−179 million (2023)
Total assets Increase2.svgUS$1.91 billion (2023)
Total equity Increase2.svgUS$190 million (2023)
Owner
Number of employees
2,300 (2023)
Website alteryx.com
Footnotes /references
[1]

Alteryx, Inc. is an American computer software company based in Irvine, California, [1] with a development center in Broomfield, Colorado, [2] [3] and offices worldwide. The company's products are used for data science and analytics. [4] [5] The software is designed to make advanced analytics automation accessible to any data worker. [6]

Contents

History

SRC LLC, the predecessor to Alteryx, was founded in 1997 by Dean Stoecker, Olivia Duane Adams and Ned Harding. [7] SRC developed the first online data engine for delivering demographic-based mapping and reporting shortly after being founded. [8] In 1998, SRC released Allocate, a data engine incorporating geographically organized U.S. Census data [9] that allows users to manipulate, analyze and map data. [10] Solocast was developed in 1998, which was software that allowed customers to do customer segmentation analysis. [8]

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. [10] [11]

In 2006, the software product Alteryx was released, which was a unified spatial and non-spatial data environment for building analytical processes and applications. [8]

In 2010, SRC LLC changed its name to that of its core product, Alteryx. [12]

In 2011, Alteryx raised $6 million in venture funding from the Palo Alto investment arm of SAP AG, SAP Ventures. [7] In 2013, Alteryx raised $12 million from SAP Ventures and Toba Capital. [13] [14] In 2014, the company raised $60 million in Round B funding [4] [5] from Insight Venture Partners, Sapphire Ventures (formerly SAP Ventures) and Toba Capital, and announced plans for a 30% workforce expansion. [3]

In 2015, ICONIQ Capital led an $85 million investment in Alteryx, with Insight Venture Partners and Meritech Capital Partners also participating. [15] Alteryx announced plans to use the new capital to expand internationally, invest in research and development, and increase its sales and marketing efforts. [16] [17]

On March 24, 2017, Alteryx went public in an IPO listed on the NYSE. [18] In October, it was discovered that Alteryx was subject to a data breach of partially anonymized data records for approximately 120 million U.S. households. [19]

In October 2020, Alteryx announced Mark Anderson as CEO, with Stoecker becoming Executive Chairman of the Board of Directors. [20]

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 until the beginning of the following year. [21] [22] [23] On March 19, 2024, the transaction was completed. [24]

Products

As of October 2023, Alteryx offered the following products as part of an analytics platform:

Acquisitions

In January 2017, Alteryx acquired Prague-based software company Semanta. Alteryx Connect is an outgrowth of the Semanta acquisition. [31]

In June 2017, Alteryx acquired data science startup Yhat [32] to enhance their capabilities for managing and deploying advanced analytic models ultimately resulting in Alteryx Promote. [33] Alteryx paid $10.8 million in cash and equity. [34] Yhat had raised $2.6 million before the acquisition.

In February 2018, Alteryx acquired Alteryx ANZ, a distributor of altered software based in Sydney, Australia [35]

In April 2019, Alteryx acquired ClearStory Data for $19.6 million in cash. [36]

In October 2019, Alteryx acquired Feature Labs, a machine learning startup founded by 2 MIT researchers [37] for $25.2 million in cash with an additional $12.5 million in equity incentive awards. [38] Feature Labs is 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. Feature Labs had raised $1.5 million prior to the acquisition. [39]

In October 2021, Alteryx acquired Lore IO, a no-code AI-enabled data modeling platform that rapidly deploys analytics that adapt easily within a changing business environment. [40] That same month, Alteryx acquired Hyper Anna, a cloud platform for generating AI-driven automated insights from data. [41]

In January 2022, Alteryx acquired Trifacta for $400 million in cash, with the deal closing the following month. [42] [43] In March 2022, Alteryx announced its Analytics Cloud Platform, which it updated to integrate Designer Cloud powered by Trifacta. [44]

Awards and recognition

Alteryx was recognized by research firm Gartner as a leader in the 2018 Magic Quadrant for Data Science and Machine Learning Platforms. [45] In addition, Alteryx was named the Gold winner in "The Best Business Intelligence and Analytics Software of 2017, [46] as Reviewed by Customers” by Gartner Peer Insights, a comprehensive platform that provides unfiltered, first-hand product and service ratings and reviews by experienced Enterprise Technology Buyers.

Alteryx has also been named one of Deloitte's Technology Fast 500, [47] an 2019 APPEALIE SaaS Award Winner, [48] and a Top 20 AI All-Stars in Technology [49] by KeyBanc Capital Markets.

In 2016, Alteryx was ranked #24 on the Forbes Cloud 100 list. [50]

In 2017, co-founder and CEO Dean Stoecker received the Ernst and Young Entrepreneur of the Year 2017 Award [51] in the Orange County Region, which recognizes entrepreneurs who excel in areas such as innovation, financial performance and personal commitment to their businesses and communities.

In February 2021, Alteryx was named a "Visionary" in Gartner's 2021 Magic Quadrant for Data Science and Machine Learning Platforms. [52]

Alteryx was also named as one of the Best Places to Work in Orange County three years in a row (2016), [53] 2017, [54] and 2018, [55] ranking within the top ten in the large employer category.

Kevin Rubin was recognized as the CFO of the Year by the Orange County Business Journal. [56]

In 2023, Alteryx was named "Overall Analytics Company of the Year" by the Data Breakthrough Awards. [57] It was also listed on Financial Times' The America's Fastest Growing Companies list. [58]

Fast Company listed Alteryx as one of the 10 Most Innovative Data Science Companies in 2021. [59]

During 2023 alone, Alteryx has achieved "Leader" positions and/or customer-driven recognitions in 13 separate third-party evaluations from firms including Ventana Research, Dresner Advisory, Constellation Research, Info-Tech Research, G2 Research, Quadrant Knowledge Solutions, Nucleus Research, and GigaOM.[ citation needed ]

Data breach

During the October 2017 data breach mentioned above, although no names were attached, telephone numbers and physical addresses were among the 248 fields per household involved in the breach. Also included was "consumer demographics, life event, direct response, property, and mortgage information for more than 235 million consumers" according to the company. [60] Alteryx assembled information from Experian and public sources like the U.S. Census Bureau to create their product which sold for $39,000 per license. Alteryx's hosting on Amazon Web Services had been unsecured (its sources had no breach). [61]

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References

  1. 1 2 "US SEC: Form 10-K Alteryx, Inc". U.S. Securities and Exchange Commission. February 6, 2024.
  2. ↑ Wallace, Alicia (31 July 2015). "Data analytics firm Alteryx moves to larger space in Broomfield". Denver Post.
  3. 1 2 Lindenstein, Joshua (6 October 2014). "Alteryx Inc. nets $60 million in funding". BizWest.
  4. 1 2 Clancy, Heather (6 October 2014). "Another day, another $60 million analytics funding round". Fortune.
  5. 1 2 Wallace, Alicia (7 October 2014). "Boulder's Alteryx Inc. raises $60 million". Daily Camera.
  6. ↑ Fogarty, Kevin (24 August 2012). "When Big Data Questions Can't Wait For Data Scientists". InformationWeek.
  7. 1 2 Brown, Steven (5 April 2011). "SAP Ventures invests $6M in Alteryx Inc". San Francisco Business Times.
  8. 1 2 3 "SRC Corporate Overview" (PDF) (Press release). Archived from the original (PDF) on 2014-10-24. Retrieved 2014-10-16.
  9. ↑ "ExtendTheReach.Com / Products / SoloCast". Archived from the original on 8 February 2003.
  10. 1 2 Norman, Jan (17 July 2001). "Census deal for O.C. firm". The Orange County Register.
  11. ↑ "SRC organizing census data". Daily Camera. 5 July 2001.
  12. ↑ "US SEC: Form 10-K Alteryx, Inc" (PDF). U.S. Securities and Exchange Commission . Retrieved March 5, 2022.
  13. ↑ Casacchia, Chris (18 May 2013). "Toba in $12M Round for Big Data Analytics Firm". Orange County Business Journal.
  14. ↑ "Alteryx Raises $12M For Data Analytics Platform That Shapes Data Into Apps". TechCrunch. 20 May 2013.
  15. ↑ Miller, Ron (2015-10-28). "Alteryx Scores $85 Million As Growth Spurt Continues". TechCrunch. Retrieved 2023-04-01.
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  28. ↑ "Alteryx Introduces Analytics Hub and Intelligence Suite". CRM. 16 June 2020. Retrieved 29 June 2020.
  29. ↑ "Alteryx Updates APA Platform with Analytics Hub and Intelligence Suite". Solutions Review. 18 June 2020. Retrieved 29 June 2020.
  30. ↑ "Alteryx App Builder". Alteryx. Retrieved 14 December 2023.
  31. ↑ "Alteryx's Acquisition of Semanta – Global Legal Chronicle". 18 July 2017. Retrieved 2019-12-15.
  32. ↑ "Alteryx Acquires Yhat to Accelerate Data Science Model Deployment". Alteryx. Retrieved 2019-12-15.
  33. ↑ "Alteryx Promote Announced - New Offering to Easily Deploy, Manage and Integrate Data Science Models for Real-Time Decisions". Alteryx. Retrieved 2019-12-15.
  34. ↑ "S-1". www.sec.gov. Retrieved 2019-12-15.
  35. ↑ "Alteryx Expands Reach by Acquiring Partner in Australia". investor.alteryx.com. Retrieved 2019-12-15.
  36. ↑ "Alteryx's (AYX) ClearStory Data Buyout Strengthens Portfolio". finance.yahoo.com. 9 April 2019. Retrieved 2019-12-15.
  37. ↑ "Alteryx Acquires Feature Labs to Advance Machine Learning for the Enterprise". Alteryx. Retrieved 2019-12-15.
  38. ↑ "FORM 10-K" (PDF).
  39. ↑ "Feature Labs launches out of MIT to accelerate the development of machine learning algorithms". TechCrunch. Retrieved 2019-12-15.
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  42. ↑ Baer, Tony (2022-01-07). "Alteryx announces intent to buy Trifacta". ZDNet .
  43. ↑ "Alteryx Closes Acquisition of Trifacta" (Press release). Retrieved 2022-02-17.
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  56. ↑ "CFO of the Year". Orange Country Business Journal. Feb 15, 2018.
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