Alteryx Buys AI Competitor
Irvine-based data science and analytics firm Alteryx Inc. (NYSE: AYX) bought ClearStory Data, a privately held software company in Menlo Park.
ClearStory Data calls itself “an enterprise-scale, continuous intelligence analytics solution for complex and unstructured data.”
It was founded in 2011, and last year raised $15 million in a Series C round.
It has raised more than $65 million since its founding, according to reports.
Terms of the deal with Alteryx were not immediately disclosed.
Shares of Alteryx were largely unaffected by the announcement; it counts a market value of about $5 billion.
The deal is a sign of things to come in the growing analytics and Big Data market segments, according to Dean Stoecker, co-founder and chief executive of Alteryx.
“We have been anticipating consolidation in the market and when we identified the great talent and compelling technology of ClearStory, we embraced the opportunity,” he said in a statement.
Alteryx customers pay a subscription fee for its analytics software to integrate data, monetize content, forecast sales, map out retail expansion plans, and compare sales and product placement, among other features.
With ClearStory “located in the heart of the Silicon Valley,” the acquisition creates “a natural extension to the Alteryx technology center, needed to support the organization’s rapid growth as a leader in the data science and analytics market,” the company said in a statement.
“The entire ClearStory team will join Alteryx and extend Alteryx’s technology presence” in Silicon Valley, ClearStory chief executive Sharmila Mulligan said in a blog post at the time the sale was announced.
The two companies have an “aligned mission to provide the leading end-to-end self-service data analytics platform that fuels remarkable outcomes for organization’s key business initiatives,” she said.
“We will continue to accelerate innovation in analytics and data science, break new ground to ease complex analytics, and help fuel the company’s accelerated market growth.”
Karma Powers Up
Irvine-based luxury carmaker Karma Automotive is juicing up the next edition of its Revero.
The car, which is expected to be formally unveiled this month at the Auto Shanghai 2019 car show, will use BMW’s TwinPower three-cylinder turbocharged engine, Karma said last week.
The gas engine works in conjunction with Karma’s twin electric motor drive system and high-voltage NMC lithium-ion battery pack.
The combo should improve the sedan’s zero-to-60 time by a full second, according to the carmaker.
The 2020 Karma Revero will hit 60 in about 4.5 seconds.
