The in-house legal team of Irvine-based Alteryx Inc. (NYSE: AYX) have spent the past year witnessing the fruits of their labor.
Alteryx purchased three separate cloud-based data companies in 2022 with negotiations and documents heavily involving the legal team.
The $400 million acquisition of San Francisco-based Trifacta was the largest deal ever for the data analytics software maker.
“Since last year, we’ve been helping to integrate Trifacta’s people and products with Alteryx,” Chief Legal Officer Christopher Lal told the Business Journal.
He points to the company’s evolving Analytics Cloud Platform as the culmination of all their work. The company has been expanding the cloud-based capabilities of its flagship products since the platform was first announced in March 2022.
The number of Alteryx customers utilizing the cloud platform increased more than 30% year-over-year in the first quarter, the company reported.
“A significant priority is showing the capability of the cloud platform and how it can be used for both small and large organizations,” Lal said.
The 30-plus department won the Best In-House Legal Team Award at the Business Journal’s General Counsel Awards last November.
Alteryx is Orange County’s most valuable publicly traded software company with a market cap of $2.7 billion as of press time. At the end of September, shares were trading at around $38 apiece.
Since January, Alteryx has made nine investments with recent partners including Fiddler, which specializes in machine learning models.
The company debuted its $50 million venture fund dubbed AYX Ventures in 2021 focused on tech and data science.
Lal said the team has also made “significant advancement” with new and existing partners.
Last March, the firm became an authorized partner for the Department of Defense to provide training and certifications in data analytics to active-duty service members as they transition back to civilian careers in a program called SkillBridge.
Alteryx also recently expanded its partnership with Google and its cloud platform to improve data preparation capabilities in August.
“Data and analytics are something every organization is going to struggle with eventually,” Lal said. “We will make sure to expand the [consumer] understanding of the possibilities of how Alteryx can be used almost limitlessly.”
