Alteryx rises 11% in data analytics IPO

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Alteryx, the data analytics company, went public on the New York Stock Exchange today, marking the third IPO of the year. The company priced its IPO yesterday at $14 per share, and closed Friday at $15.50, or 10.7% higher.

Alteryx works with clients like Amazon, Ford and Coca-Cola to help them better assess what products are selling and where there are market inefficiencies. CEO Dean Stoecker touted a high customer retention rate, which makes it easier to predict revenue.

Stoeckher tells us that Alteryx prides itself with a “platform that’s easy to install and learn.” They work with a variety of industries and company divisions, ranging from “sales operations to marketing to HR analytics.”

Alteryx brought in $85.8 million in revenue last year, with losses of $24.3 million. Revenue was $53.8 million for 2015 and losses that year were $21.5 million.

The company has raised at least $163 million in capital since it was founded in 2010. Insight Venture Partners owns 27% of Alteryx, Thomson Reuters has a 13.1% stake and Sapphire Ventures owns 13% of the company. Other large investors are Toba Capital and ICONIQ.

Irvine-based Alteryx is part of a burgeoning southern California tech scene. Snap is headquartered in Venice, meaning that two of the three tech companies to go public this year have been in the bottom half of the state.

New York-based Yext and San Francisco’s Okta have already revealed their IPO filing, indicating that their debut is happening in the coming weeks. After last year’s inactive year for tech IPOs, many are hoping that the “window” is open and that the spate of new public companies will continue.

Rob Ward, managing director at Meritech Capital, said they invested in Alteryx because “we knew there was a massive opportunity in between data consumption and data storage.” They hoped that Alteryx would “become the leading provider of self service analytics to the tens of millions of data driven business users who are desperate for just such a solution given today’s increasingly complex data ecosystem.”

Stoecker says that they plan to use the proceeds from the offering to continue their international expansion. They may also make some acquisitions.

Going public today is just the begging of the next chapter,” he said. 

 

 

 

Featured Image: Peter Kaminski/Flickr UNDER A CC BY 2.0 LICENSE (IMAGE HAS BEEN MODIFIED)