Crux comes out of stealth, raises $10m Series A

fintech insurtech wealthtech regtech ai cybertech esg news
fintech insurtech wealthtech regtech ai cybertech esg news

Informatics company Crux has exited stealth alongside the close of a $10m Series A financing round.

The investment was led by Goldman Sachs’ Principal Strategic Investments division, and also saw participation from undisclosed institutional investors.

Crux helps to lower money and effort used acquiring, exploring and processing excessive amounts of data, by compiling it into actionable insights quicker and easier. The cloud integrated platform provides a single location to store, explore and transform data.

These solutions will enable hedge funds, banks and insurance carriers to gain immediate access to insights, from traditional and alternative financially relevant data.

Goldman Sachs’ Principal Strategic Investments global head Darren Cohen said, “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.

“Crux’ 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.”

Goldman Sachs has taken part in a host of FinTech companies funding rounds this year, including one having already closed this month. The firm took part in governance, risk and compliance solution MetricStream’s $65m round. Some of the other recent commitments this year were personal finance app Neyber, which raised £115m, and finance management solution CompareAsiaGroup’s $50m Series B.

Funding into the global Data & analytics companies has risen in 2017, from the levels seen last year. Total funding across the first three quarters of 2017 is $1.446bn, while this same period last year only saw $1bn deployed.

Copyright © 2017 FinTech Global

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