Crux Informatics has closed a USD10 million Series A financing, led by Goldman Sachs Principal Strategic Investments (PSI) and other institutional investors.
Crux helps companies reduce the effort and money spent acquiring, exploring and processing large amounts of data. The company implements and operates the data processing pipelines they create for their customers’ unique requirements. Crux says its clients can find actionable insights faster and easier.
“The emergence of unstructured data as an important input into the investment process creates a great opportunity for financial institutions, but only if actionable insights can be extrapolated from it,” says Darren Cohen, global head of Goldman Sachs’ PSI group. “Crux’s innovative approach – coupled with their deep expertise in financial services and capital markets– brings economies of scale that will allow companies to be more agile, inventive and effective with data.”
For data consumers, Crux provides a data engineering concierge service, which aims to delivers easy access to actionable data.
Hedge funds, banks and insurance carriers rely on Crux to help them explore and make use of a wide range of traditional and alternative financially relevant data.
“Gathering information about the world, doing analysis, and driving unique insight is the life-blood of the financial industry,” says Philip Brittan (pictured), CEO of Crux. “It is a hard process filled with numerous pain points. Crux is a unique new offering, created to help our clients much more easily find, explore, and make use of relevant data. We take on the burdensome and non-differentiating aspects of our customers’ information supply chains, so they can focus on what really matters for their business. In doing do, we strive to make data delightful.”