Data analysis and visualization company Tableau Software had a big third quarter, increasing revenue to $104.5 million — a 71 percent increase over last year’s third quarter. The growth is actually off a little from the 80-plus percent annual increases it had seen in previous quarters, but this was the company’s first $100 million quarter. Overall, Tableau posted a quarterly loss of just over $4.6 million.
Tableau is often viewed as the posterchild for next-generation analytics software and continues to add customers at a rapid pace, adding more than 2,500 in the third quarter and closing 200 sales of more than $100,000. International revenue was up 115 percent annually.
Despite its fast growth and innovative spirit relative to the legacy business intelligence and analytics business, though, there are lots of startups — and, now, even Salesforce.com — gunning to chip away at its growing marketshare. They have seen what Tableau did right in making data analysis a visual experience doable even by non-analysts, and are trying to make products that are bigger, faster, easier and/or cheaper.
However, Tableau can’t be accused of resting on its laurels too much. The company claims to be investing more money than ever into research and development — and even has a dedicated R&D team — and in September showed off an early version of a new mobile product it’s calling Project Elastic.