Alteryx Explained

Alteryx, Inc.
Traded As: (2017–2024)
Industry:Computer software
Foundation: as SRC, LLC
Hq Location:Irvine, California, United States
Area Served:Worldwide
Revenue: (2023)
Operating Income: (2023)
Net Income: (2023)
Assets: (2023)
Equity: (2023)
Num Employees:2,300 (2023)
Footnotes:[1]

Alteryx, Inc. is an American computer software company based in Irvine, California, 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]

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 $400million 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]

2017 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.[45] 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).[46]

Notes and References

  1. Web site: US SEC: Form 10-K Alteryx, Inc.. U.S. Securities and Exchange Commission. February 6, 2024.
  2. News: Denver Post . 31 July 2015 . Alicia . Wallace . Data analytics firm Alteryx moves to larger space in Broomfield .
  3. News: BizWest . 6 October 2014 . Joshua . Lindenstein . Alteryx Inc. nets $60 million in funding .
  4. News: Fortune. 6 October 2014 . Heather . Clancy . Another day, another $60 million analytics funding round .
  5. News: Daily Camera . Boulder's Alteryx Inc. raises $60 million . Alicia . Wallace . 7 October 2014.
  6. Web site: Kevin . Fogarty . InformationWeek . When Big Data Questions Can't Wait For Data Scientists. 24 August 2012 .
  7. News: SAP Ventures invests $6M in Alteryx Inc.. Steven. Brown. San Francisco Business Times. 5 April 2011.
  8. SRC Corporate Overview . 2014-10-16 . https://web.archive.org/web/20141024024821/http://src.mediaroomshowcase.com/file.php/2441/SRC+backgrounder.pdf . 2014-10-24 . dead .
  9. Web site: ExtendTheReach.Com / Products / SoloCast . 8 February 2003 . https://web.archive.org/web/20030208021200/http://www.extendthereach.com/products/allocate/.
  10. News: Census deal for O.C. firm . Jan . Norman . The Orange County Register . 17 July 2001.
  11. News: 5 July 2001. Daily Camera. SRC organizing census data.
  12. Web site: US SEC: Form 10-K Alteryx, Inc.. U.S. Securities and Exchange Commission. March 5, 2022.
  13. News: 18 May 2013. Chris. Casacchia. Orange County Business Journal. Toba in $12M Round for Big Data Analytics Firm.
  14. Web site: TechCrunch. Alteryx Raises $12M For Data Analytics Platform That Shapes Data Into Apps. 20 May 2013 .
  15. Web site: Miller . Ron . 2015-10-28 . Alteryx Scores $85 Million As Growth Spurt Continues . 2023-04-01 . TechCrunch . en-US.
  16. News: Iconiq Capital Leads $85 Million Investment in Alteryx. The New York Times. 2015-10-28. 2015-10-28. 0362-4331. Leslie. Picker.
  17. News: Data firm Alteryx secures $85M investment, could make "unicorn" list. Orange County Register. 2015-10-28. Lauren. Williams.
  18. Web site: 2017-03-23 . Alteryx IPO Draws Strong Interest In Hot Data-Analytics Field . 2023-04-01 . Investor's Business Daily . en-US.
  19. Fox-Brewster, Thomas. "120 Million American Households Exposed In 'Massive' ConsumerView Database Leak". Forbes. Retrieved 2018-12-24.
  20. Web site: Avidon . Eric . February 23, 2022 . Alteryx makes personnel changes to navigate cloud journey . May 24, 2023 . TechTarget.
  21. Web site: 18 December 2023 . Software firm Alteryx to be taken private in $4.4 bln deal . 21 December 2023 . Reuters.
  22. Web site: Alteryx to be acquired by private equity firms for $4.4 billion TechTarget . 2023-12-21 . Business Analytics . en.
  23. Web site: Alteryx, Databricks expand complementary partnership TechTarget . 2024-02-16 . Business Analytics . en.
  24. Web site: Clearlake Capital Group and Insight Partners Complete Acquisition of Alteryx. MarketScreener. 19 March 2024. 2024-03-22. en-US.
  25. Web site: Avidon . Eric . November 16, 2022 . Alteryx launches SaaS version of Designer in Analytics Cloud . May 11, 2023 . TechTarget.
  26. Web site: 2023-02-19 . Alteryx Analytics Cloud platform updates boost decision intelligence . 2023-05-11 . Help Net Security . en-US.
  27. News: Guess. A.R.. Alteryx Alters Data Science with New Release. March 9, 2018. Davaversity.
  28. Web site: 16 June 2020 . Alteryx Introduces Analytics Hub and Intelligence Suite . 29 June 2020 . CRM.
  29. Web site: 18 June 2020. Alteryx Updates APA Platform with Analytics Hub and Intelligence Suite. 29 June 2020. Solutions Review.
  30. Web site: Alteryx App Builder . Alteryx . 14 December 2023.
  31. Web site: Alteryx's Acquisition of Semanta – Global Legal Chronicle. 18 July 2017 . en-US. 2019-12-15.
  32. Web site: Alteryx Acquires Yhat to Accelerate Data Science Model Deployment. Alteryx. en. 2019-12-15.
  33. Web site: Alteryx Promote Announced - New Offering to Easily Deploy, Manage and Integrate Data Science Models for Real-Time Decisions. Alteryx. en. 2019-12-15.
  34. Web site: S-1. www.sec.gov. 2019-12-15.
  35. Web site: Alteryx Expands Reach by Acquiring Partner in Australia. investor.alteryx.com. en-US. 2019-12-15.
  36. Web site: Alteryx's (AYX) ClearStory Data Buyout Strengthens Portfolio. finance.yahoo.com. 9 April 2019 . en-US. 2019-12-15.
  37. Web site: Alteryx Acquires Feature Labs to Advance Machine Learning for the Enterprise. Alteryx. en. 2019-12-15.
  38. Web site: FORM 10-K.
  39. Web site: Feature Labs launches out of MIT to accelerate the development of machine learning algorithms. TechCrunch. 22 February 2018 . en-US. 2019-12-15.
  40. Web site: Ghosh . Shaoni . October 26, 2021 . Alteryx acquires Lore IO to leverage data access for cloud data . May 1, 2023 . Analytic Steps.
  41. Web site: Avidon . Eric . October 7, 2021 . Alteryx acquisition of Hyper Anna adds AI capabilities . May 1, 2023 . TechTarget.
  42. Web site: Alteryx announces intent to buy Trifacta . 2022-01-07 . . Tony . Baer.
  43. Alteryx Closes Acquisition of Trifacta. 2022-02-17. en-US.
  44. Web site: Avidon . Eric . February 16, 2023 . Alteryx makes Analytics Cloud GA, adds new tools . May 4, 2023 . TechTarget.
  45. Web site: 120 Million American Households Exposed In 'Massive' ConsumerView Database Leak. Fox-Brewster. Thomas. Forbes. en. 2018-12-24.
  46. News: Data Breach Exposes 123 Million U.S. Households. Hackett, Robert. December 22, 2017. December 23, 2017. Fortune: Time, Inc..

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