Alteryx, a US-based data blending and advanced analytics technology producer backed by enterprise software provider SAP, raised $85m in series C funding yesterday.
The round was co-led by venture capital firms Iconiq Capital and Insight Venture Partners, and also included another VC firm, Meritech Capital Partners.
Alteryx operates an analytics platform that includes features such as big data and predictive analytics, as well as a tool for customer relationship management platform Salesforce, which helps businesses gain a deeper insight into their clients.
The capital will go towards accelerated development of Alteryx’’s self-service tool, and follows the company’s expansion in Europe and Australia earlier this year.
Sapphire Ventures (then named SAP Ventures), the venture capital firm spun out of SAP, participated in Alteryx’s $60m series B round in October 2014, which was led by Insight Venture Partners and also backed by Toba Capital.
Sapphire and Toba Capital funded the company’s $12m series A round in 2013, following Sapphire’s $6m seed investment in 2011.
SAP Ventures was spun off by SAP in 2011 and rebranded to Sapphire Ventures in October 2014 to reflect its independent status. The firm maintains a close relationship with its corporate partner.