Summary
- Alteryx has acquired Feature Labs for an undisclosed sum.
- Feature Labs has developed tools to enable feature engineering in data science analytics for a larger group of non-technical workers.
- With the deal, AYX is adding capabilities as customers want more integrated tools to empower their workforce.
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Quick Take
Alteryx (AYX) announced it has acquired Feature Labs for an undisclosed amount.
Feature Labs operates provides automation feature engineering for machine learning [ML] and artificial intelligence [AI] applications.
AYX is adding functionalities to its system as clients and prospects want fewer vendors and more capabilities to enable more of their workforce to use data science tools for improved operational efficiencies.
Target Company
Boston, Massachusetts-based Feature Labs was launched in 2015 out of the Massachusetts Institute of Technology [MIT] to help data scientists and business analysts gain easier insight and understanding into the factors driving their business.
Management is headed by co-founder and CEO Max Kanter, who has previously served as a Software Engineer at The New York Times.
Feature Labs also has open-source libraries with over 350,000 downloads, providing automated feature engineering across nearly every domain.
Investors have invested at least $1.5 million in the company and include 122West Ventures, First Star Ventures, and Flybridge Capital Partners. Source: Crunchbase
