Alteryx, a US-based data analytics software producer backed by media group Thomson Reuters, set the range for its initial public offering yesterday and will raise up to $126m when it floats.
The company plans to issue 9 million shares priced between $12 and $14 each when it lists on the New York Stock Exchange.
Founded in 1997, Alteryx provides a subscription-based software platform that enables organisations to manage, organise and assess data sourced from several places using an intuitive drag-and-drop interface.
Alteryx made a $24.5m loss in 2016 despite increasing revenue from $53.8m to $85.8m year on year. It has disclosed $163m of venture funding since 2011.
The company most recently raised $85m in a series C round featuring Iconiq Capital, Insight Venture Partners and Meritech Capital Partners in late 2015 at a valuation of almost $1bn.
Thomson Reuters owns a 13.1% share in the company but the nature of its investment has not been disclosed. Thomson Reuters representative John Bellizzi has been on Alteryx’s board since 2011, just before it raised $6m from Sapphire Ventures, then known as SAP Ventures.
Private equity and venture capital firm Insight Venture Partners is Alteryx’s largest shareholder, owning a 27% stake. Other notable investors include Sapphire Ventures, the VC firm spun out of enterprise software producer SAP (13%), Toba Capital (6%) and Iconiq Capital (5.6%).
Underwriters Goldman Sachs, JP Morgan Securities, Pacific Crest Securities, William Blair & Company, JMP Securities, Raymond James & Associates, and Cowen and Company have a 30-day option to buy another 1.35 million shares, which could potentially boost the size of the offering to almost $145m.