Crux collects $20m in Series B to fuel its next growth stage

Crux Informatics, a data engineering and information platform, has nabbed $20m in Series B round.

Contributors to the round include Two Sigma and follow-on investments by Goldman Sachs’ Principal Strategic Investment Group and Citi. A number of other unnamed backers that invested in Crux’s Series A also took part.

The capital injection will be used to fuel and accelerate growth.

Crux hopes to help financial firms ease the pain of acquiring usable data by helping them to find, explore and transform information, according to the company. The company offers an easy way for firms to access data and generate investment insights and extract value.

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

Philip Brittan CEO Crux Informatics said, “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.

“We are transforming the data industry making it possible for our clients to reap the benefits from improved data flow, which translates into more actionable insights and alpha.”

The company launched from stealth late last year, alongside the closing of a $10m Series A round. The former round was led by Goldman Sachs’ Principal Strategic Investment Group.

Earlier in the year, Two Sigma recently contributed to the $95m investment into the data-as-a-service company Enigma. The company aims to transform how data is seen and used in the enterprise. Enigma connects internal and external data to surface insights that inform business decisions, solve problems and unlock new opportunities.

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