Alteryx Secures $6M Funding From SAP Ventures
The investment will fuel growth of agile and geo-spatial business intelligence (BI) Software.
Geographic Business Intelligence (BI) software developer Alteryx, Inc., has announced a $6 Million investment by SAP Ventures Fund I. Accoridng to the company, the investment will support accelerated growth opportunities requiring infrastructure build-out, expanded go-to-market execution and possible acquisitions. In conjunction with the new funding, Jai Das, Managing Director with SAP Ventures, joins the Alteryx, Inc., Board of Directors.
"Alteryx delivers its ground-breaking geographic business intelligence software and solutions to Fortune 500 and mid-market companies in the Automotive, Retail, Commercial Real Estate, Telecommunications, Cable, Manufacturing and Finance industries. Alteryx also serves local and federal government customers and supports a network of leading universities and colleges through its educational grant program. Alteryx technology is delivered in desktop, server and public/private cloud computing environments.
"The investment comes at an opportune time in the evolution of BI software. In an April 2010 independent report by Forrester Research, Inc., entitled Agile BI Out Of The Box: '[there is] an emergence of a new generation of metadata-generated BI applications that BI professionals should consider not as a replacement for traditional BI, not yet but for specific use cases such as complementing traditional BI, generating data marts from the enterprise data warehouse (EDW), and delivering rapid BI application prototypes.'"