Analytics Reaps the Benefits of a Data-Heavy World
As the Internet has expanded so too have the money making opportunities for companies.
In order to determine whether or not their latest venture was successful, companies must receive and analyze as much data as possible. To help themselves complete this tiresome task, many have started to seek help from analytics providers.
Alteryx, an advanced analytics and data blending provider, has recently announced a $60 million investment led by Insight Venture Partners.
Over the last year Alteryx has seen over 200 percent growth in its customer base bringing its total to more than 600 different organizations including Verizon, Boston Consulting Group and Ingersoll Rand. The new investment will be used by the company for a variety of things including broadening its partner channel (which already includes Tableau and Experian) and continuing to create and deliver innovative products to line-of-business data analysts in marketing, sales, customer service as well as finance roles.
"We are thrilled to have a firm like Insight Venture Partners join our team," said Dean Stoecker, CEO of Alteryx. "Every day tens of thousands of analysts use Alteryx to drive better analytical decisions in their organization. This latest funding round validates the amazing things they do and will allow us to deliver continuously enhanced personal data blending and analytics experiences to even more analysts."
Other participates in this investment included SAP Ventures and Toba Capital.