Crux Informatics aims to expand with $20m funding
Crux Informatics, a data engineering and information supply chain operator, has closed $20 million in a Series B funding round.
The financing round includes recent investor Two Sigma, as well as follow-on investments from Goldman Sachs’ Principal Strategic Investment Group and Citi, among others. The aim of this capital is to accelerate the firm’s growth.
The vendor’s Informatics platform helps operate and maintain firms’ data supply chains, and this new funding will help the firm enhance the platform with new tech.
“We have built a solution for what has become a significant pain point for financial services firms – ingesting and managing the tremendous amount of data that is now available to them,” says Crux Informatics CEO, Philip Brittan.
With the proliferation of new data sources and greater need for financial firms to find and harness an increasingly fragmented array of data, preparing it for analysis requires firms to spend a significant amount of time and internal resources.
“We are making it possible for our clients to reap the benefits from improved data flow, which translates into more actionable insights and alpha. This funding will help us continue to drive innovation, which will scale our business and the data set solutions we offer to our clients.”