Alteryx

Founded in 1997, Alteryx was established as a software company in Irvine California. The products of Alteryx are used for making significant advancements in data science and analytics that help several organizations. The company offers a series of products as a part of its platform including Alteryx Connect, Alteryx Designer, Alteryx Promote, Analytics Hub, etc. It also hosts a cloud-based website which is called Alteryx Analytics Gallery. In the last two decades, Company has expanded worldwide with approximately 1,200 employees. Currently, the CEO of the company is Mark Anderson. Under his leadership, the company has acquired a lot of companies.

History Of Alteryx

The foundation history of Alteryx began with the establishment of SRC LLC in 1997. This company is the predecessor of Alteryx as the name of the company was changed in 2010 after its core product. Dean Stoecker, Duane Adams, and Ned Harding are the three founders of the company. When the company was newly launched, SRC was building a data engine that was the first of its kind to deliver demographic-based mapping with a very short reporting time. After one year, the company released Allocate, a new product 1998, It was a data engine that incorporated geographically organized US census data. This data engine allowed the users to analyze, manipulate, and map data.

The product line of the company eventually started growing as it rolled out another product, Solocast in the same year. This product was developed for the main purpose of customer segmentation analysis. After two years, a modified version of the Allocate software was developed as per a contract between SRC LLC and US Census Bureau. The bureau used the updated software to integrate on the CD-ROMs of Census Data. In 2006, the company developed a new product called Alteryx. This product had both spatial and non-spatial data environments for building various applications based on analytics.

Expansion And Acquisitions

After the rollout of Alteryx, it became the core product of the company, and thus in 2010 SRC LLC changed its name to Alteryx. The funding received by Alteryx started escalating during this time as in 2011 the company raised $6 million from the Palo Alto investment arm of SAP Ventures. After two years it again raised $12 million from SAP Ventures and Toba Capital. The company conducted its Series B funding in 2014 where it was able to raise $60 million from existing investors and Insight Venture Partners. After this funding round, the company decided to expand its workspace by 30 percent.

In 2015, Alteryx raised another $85 million in a funding round led by ICONIQ Capital. The company announced that this fund will be used to expand internationally, improve their R&D facilities, and increase sales and marketing efforts. In 2016, Company was featured in the Forbes Cloud 100 list and a year after that it filed its IPO and went public. After the company started trading publicly, it made a series of acquisitions starting with a software company called Semanta in 2017. Later in 2017, Company acquired a data science startup, Yhat for $10.8 million. Some of the other companies acquired in the last few years are Alteryx ANZ, ClearStory Data, Feature Labs, etc.

Awards

The company has become one of the noticeable companies in the data science platform. In 2018, Gartner recognized Alteryx as a leader in the 2018 Magic Quadrant for Data Science and Machine Learning Platforms. Gartner Peer Insights also named the company “The Best Business Intelligence and Analytics Software of 2017.” KeyBanc Capital Markets named the company a Top 20 AI All-Stars Technology and the former CEO and co-founder of the company Dean Stoecker received the E&Y Entrepreneur of the Year award in 2017.

About The Founders

Dean Stoecker is famous as the co-founder and former CEO of Alteryx. He went to the University of Colorado followed by Pepperdine University to complete his MBA. In 2019, the net worth of Stoecker was $1.2 billion.

Duane Adams is one of the co-founders of the company and the Chief Advocacy Officer of Alteryx. One of her main goals in the company is to diversify the workforce and upskill the people of the company to keep up with the constantly evolving business world. Before co-founding Alteryx, she worked at Strategic Mapping, Donnelley, and VNU Business Media.

Ned Harding has recently retired from Alteryx. But, while he was a part of the company he served as the Vice President and CTO of the same. Before co-founding Alteryx, he worked at several companies as a software engineer.