Alteryx, a company that has been providing a way to build analytical apps from a variety data sources via a workflow interface, got a big boost in funding today, announcing a $60M Series B round.
The round was led by Insight Venture Partners with participation from existing investors SAP Ventures and Toba Capital. Their most recent round prior to this was $12M Series in May, 2013. The additional money brings their total funding to date to $78M and suggests that investors have confidence that this market will grow.
And apparently with good reason, Alteryx reports that it currently has 600 customers, a 200 percent year over year increase.
Interestingly enough, Alteryx president and COO George Mathew doesn’t see the company competing with the usual Business Intelligence suspects, whether that’s more modern platforms like Tableau and QlikView or more traditional enterprise players like SAP Business Objects (where Mathew came from), Oracle Hyperion or IBM Cognos…
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