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Iconiq Capital Leads $85 Million Investment in Alteryx

While market volatility has scared away some venture investors, the firm advising some of Silicon Valley’s most prominent billionaires is not dismayed.

Iconiq Capital, known for advising the Facebook co-founder Mark Zuckerberg, has helped lead an investment in Alteryx, the start-up said Wednesday.

Alteryx, which makes software for businesses to analyze information from billions of records coming from many spreadsheets and databases, raised $ 85 million in the round. Two other investors, Insight Venture Partners and Meritech Capital Partners, also participated. The funding — the third round for Alteryx — yields a valuation approaching $ 1 billion, a person briefed on the terms said.

Choppiness in the public equity markets has been trickling into private financing over the last few months, making it harder for some start-ups to obtain funding at their desired valuations. The market has become more focused on profitable, sustainable growth, whereas earlier in the year, investors were more motivated by start-ups that had growth at all costs, according to George Mathew, the president of Alteryx.

“We’ve really focused on building a profitable business at scale,” Mr. Mathew said in a phone interview. “What we’ve seen so far is that great companies will find great investors to bring them to the next stage of growth.”

Alteryx, which is based in Irvine, Calif., plans to use its new capital to expand internationally, invest in research and development and increase its sales and marketing efforts, Mr. Mathew said. As part of that strategy, Alteryx intends to increase the number of employees worldwide 67 percent by the end of next year and focus on operations in Western Europe.

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NYT > Technology

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