Alteryx, a US-based developer of business intelligence software formerly known as SRC until 12 months ago, has raised $6m from SAP Ventures, the corporate venturing unit of Germany-based software provider SAP, in its first deal since setting up a corporate venturing fund.
SAP Ventures has posted managing director Jai Das on its portfolio company’s board.
Das said: "The agility, flexibility and particularly unique spatial processing component of the Alteryx software makes this an opportunity."
Alteryx said it had had 14 years of consecutive top- and bottom-line growth including 30% last year.
SAP Ventures set up Fund I earlier this year following a successful track record drawing corporate venturing money from its parent’s balance sheet. Over the past 15 years, SAP Ventures has supported more than 100 companies on five continents, including Commerce One, Greenplum, MySQL, Red Hat, and WebEx. Current portfolio companies include Alfresco, Endeca, iYogi, Linkedin, OnDeck, Spring Wireless, Tealeaf, Tremor Media and Zend.