It is incredible to see what a difference one year has made in the Big Data Analytics market. This time last year, I was trying to convey that Big Data had to become more than just Hadoop infrastructure investments or wrangling your own data scientist. There wasn’t much chatter (or tweeting) when Alteryx said that analysis and outcomes mattered more than the size of your Hadoop cluster.
In the first few months of 2013, the market turned a corner. After organizations made these critical infrastructure investments; it became clear that very few people had MapReduce and R skills to take advantage of Big Data. At the same time, analytically driven folks continued rising to the challenge by using do-it-yourself tools to find the value in Big Data through better analytics. Nothing cemented this fact more than the spectacular IPO of our friends, Tableau Software, at the end of last week.
It is under this backdrop that I wanted to share some incredible news at Alteryx. Today we announced a $12 million investment from Toba Capital and SAP Ventures. This represents a significant milestone for Alteryx, our customers, and the broader Big Data Analytics ecosystem. For the last two years, we have been delivering on the plans we laid out during our initial funding to Consumerize Big Data. During this time, we have delivered the most innovative analytics products in the market including the Alteryx Analytics Gallery and Alteryx Strategic Analytics 8.5. We have made incredible progress, and we have seen you, our customers and partners, mirror that progress. Check out what your peers have been doing with Alteryx – and these are just the early chapters in our story.
This is an exciting time in the world of analytics - with the exponential growth of Big Data and the evolving recognition that every major business decision needs to be supported by analysis. Yesterday’s analytics companies such as SAS are built on old programming languages that struggle to manage the complexity of today’s data. These older systems also require significant intervention by the IT department just to produce results for business analysts, who then fall back to spreadsheets as their primary analysis tool.
Alteryx is part of the “New Guard” of analytics companies that are putting modern, scalable, powerful tools in the hands of everyday business analysts to speed the process in which they can gain insights and make decisions. This new funding will enable us to continue investing in these capabilities that will make you, the Data Artisan, more successful in what you do.
I’m humbled by our ability to continue serving you. This investment is all about accelerating the future we are creating together. Putting the power of Big Data and Strategic Analytics in the hands of every analyst is ultimately the generational shift of our times. The Alteryx team is thrilled to be fueling the shift.
President and COO