Alteryx Announces Acquisition of Hyper Anna, a Leading Cloud Platform for AI-driven Business Insights

Rhea-AI Summary

Alteryx (NYSE: AYX) has acquired Sydney-based Hyper Anna, a cloud platform for AI-driven automated insights. This acquisition aims to enhance Alteryx's analytics capabilities, allowing users, regardless of technical expertise, to generate actionable insights from data. By combining their platforms, Alteryx and Hyper Anna intend to address the limitations of traditional BI dashboards, creating a more accessible analytics experience. This strategic move is expected to empower over 7,000 customers with improved insights, visualizations, and reporting features.

Positive

• Acquisition of Hyper Anna enhances analytics capabilities.
• Empowers users with AI-driven insights regardless of technical expertise.
• Addresses limitations of traditional BI tools by streamlining access to insights.
• Aims to improve the outcome for over 7,000 customers.

Negative

• Integration challenges may arise between Alteryx and Hyper Anna.
• Potential risks associated with international operations.

IRVINE, Calif., Oct. 7, 2021 /PRNewswire/ -- Alteryx, Inc. (NYSE: AYX), the Analytics Automation company, today announced that it has acquired Hyper Anna, a leading cloud platform for generating artificial intelligence (AI)-driven automated insights from data. Hyper Anna is a Sydney, Australia-based company that enables anyone, regardless of technical background, to access AI-driven insights. The acquisition of Hyper Anna will allow Alteryx to automate the end-to-end analytic pipeline from data sources to AI-driven insights.

"Hyper Anna's mission to enable everyone, regardless of analytical background, to access data insights aligns perfectly with the Alteryx vision to enable every person to transform data into a breakthrough," said Mark Anderson, chief executive officer of Alteryx. "With this acquisition, we are thrilled to offer a joint solution that empowers our customers to derive world class, human insights that matter, adding value to every line of business time and time again."

Hyper Anna's platform provides faster, better insights that scale and overcomes the issue presented by traditional business intelligence (BI) dashboards where the analytical output is predefined and unaware of the business users' contexts. Overcoming the common issue of "too many dashboards, not enough insights," the combined Alteryx and Hyper Anna platform will empower people and organizations to create and consume insights, accelerating breakthrough outcomes from their data.

"Over 7,000 customers love the Alteryx analytics automation platform because it helps them unlock new value from their data. By now working together with Alteryx, we can offer capabilities that are far greater than the sum of its parts—the Alteryx offering that customers know and love but with more insights, visualizations and reporting features that enable every team to create recurring impact," said Natalie Nguyen, chief executive officer of Hyper Anna. "This is the kind of end-to-end partnership that will help customers take their business to the next level. The Alteryx vision aligns so genuinely with what we set out to do at Hyper Anna and I could not be more excited to see where we can go from here."

Alteryx excels in automating data science and analytics from data acquisition to data transformation, diagnostic, predictive and prescriptive insights via a code-free and code-friendly platform. With the acquisition of Hyper Anna, Alteryx customers leveraging these platforms will be able to:

• Surface hidden signals: highlight outliers or anomalies in data that would have gone unnoticed in traditional visualization tools so users can focus on the key issues
• Quickly scale automated insights: use AI-powered insights to determine key trends in the data, automating mundane tasks and allowing for more time on meaningful work
• Enable anyone with data storytelling: derive impactful stories around the data, no matter the user's level of technical experience, to speed actions and decisions within the business

"According to Accenture¹, 75% of the global workforce has access to traditional BI tools, yet over 74% of enterprise workers are still overwhelmed working with data," said Suresh Vittal, chief product officer of Alteryx. "There's a huge need to get faster, automated insights that can be democratized and accessed across an organization. The combined platforms from Alteryx and Hyper Anna seek to solve this, ultimately helping data workers of all levels of expertise efficiently achieve business value and breakthroughs that matter."

To learn more about Hyper Anna, visit www.hyperanna.com.  

About Alteryx
Alteryx, the Analytics Automation company, is focused on enabling every person to transform data into a breakthrough. Alteryx unifies analytics, data science and business process automation in one, end-to-end platform to accelerate digital transformation and shape the future of analytic process automation (APA). Organizations of all sizes, all over the world, rely on Alteryx to deliver high-impact business outcomes and the rapid upskilling of their modern workforce. For more information visit www.alteryx.com.

Alteryx is a registered trademark of Alteryx, Inc. All other product and brand names may be trademarks or registered trademarks of their respective owners.

Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding the acquisition of Hyper Anna, its impact on the Alteryx software platform and its customers and users, the anticipated benefits and features of a joint solution, and other future events. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including, but not limited to: our ability to integrate Hyper Anna's employees and operations into our business; the benefits of the acquisition and impact on the software platform, customers and users of Alteryx; risks associated with our international operations; our ability to develop and release product and service enhancements and new products and services to respond to rapid technological change in a timely and cost-effective manner; our ability to attract new customers and retain and expand sales to existing customers; intense and increasing competition in our market; the rate of growth in the market for analytics products and services; and other general market, political, economic, and business conditions.

Additional risks and uncertainties that could affect our business are included in the Risk Factors sections of our Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2021. All forward-looking statements contained herein are based on information available to us as of the date hereof and we do not assume any obligation to update these statements as a result of new information or future events.

1. Accenture, The Human Impact of Data Literacy, 2020

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SOURCE Alteryx, Inc.

FAQ

What is the significance of Alteryx's acquisition of Hyper Anna?

The acquisition enhances Alteryx's analytics capabilities and provides AI-driven insights, making data analysis accessible to all users.

How will the acquisition impact Alteryx's customers?

Customers will benefit from improved insights, visualizations, and reporting features, addressing the limitations of traditional BI dashboards.

What challenges might Alteryx face after acquiring Hyper Anna?

Alteryx may encounter integration challenges and risks related to its international operations.

When was the acquisition of Hyper Anna announced?

The acquisition was announced on October 7, 2021.

What does Hyper Anna's platform offer to Alteryx?

Hyper Anna's platform offers AI-driven insights, enabling faster and more meaningful data storytelling for users of all skill levels.