About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Crux Secures $50 Million Funding for SaaS Solution Offering Fast Access to External Data

Subscribe to our newsletter

Crux, provider of a cloud-based data integration and operations solution designed to accelerate value between internal and external data, has secured funding of $50 million in addition to previous funding led by financial sciences company Two Sigma and the Growth Equity business of Goldman Sachs Asset Management (Goldman Sachs) for a total of $175 million to date.

The new funding will be used to bring a self-service SaaS solution to market, the Crux External Data Platform. The platform is designed to help data leaders access third-party data quickly and will provide enterprise-grade integration, transformation, and observability of external data. It will include a 24×7 data operations team that will continuously monitor each data pipeline to ensure required data arrives at the right place, in the right shape, and at the right time, enabling data teams with easy navigation of external data. The platform is due to come to market in March 2023.

“As demand grows worldwide for a platform that can accelerate the realisation of value from external datasets by delivering information that is data science and analytics ready, our new funding will continue to fuel our disruption in this space,” says Crux CEO Will Freiberg.

Founded in 2017, Crux has since built more than 50,000 pre-engineered data pipelines that deliver public and third-party datasets to a destination of choice. The company works with enterprise data management customers, as well as hedge funds and asset managers including AllianceBernstein, Capital Group, Goldman Sachs Asset Management, and Two Sigma. Its approach to external data has been recognised by over 260 data providers including FactSet, MCSI, and Morningstar, as well as public cloud marketplaces such as Google and AWS.

Darren Cohen, global co-head of the Growth Equity business at Goldman Sachs Asset Management, comments: “The pace of adoption and ingestion of third-party data continues to accelerate across asset classes on a global basis, as investors seek competitive differentiation and excess returns. Crux has established a leadership position in this market, through a combination of its scalable, proven technology platform and broad-based data coverage, enabling its clients to rapidly ingest data with tremendous efficiency.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Unpacking Stablecoin Challenges for Financial Institutions

The stablecoin market is experiencing unprecedented growth, driven by emerging regulatory clarity, technological maturity, and rising global demand for a faster, more secure financial infrastructure. But with opportunity comes complexity, and a host of challenges that financial institutions need to address before they can unlock the promise of a more streamlined financial transaction ecosystem. These...

BLOG

Datactics Survey to Gauge Data Chiefs’ Pressure to Adopt AI Amid New Risks

The headlong rush to adopt artificial intelligence poses multiple risks to financial institutions that don’t take the necessary preparatory steps before implementation. One potential source is the increasing AI-savviness of company employees. As they become accustomed to using the technology on consumer devices and websites, there is a greater risk they’ll inadvertently leak or compromise...

EVENT

Eagle Alpha Alternative Data Conference, Spring, New York, hosted by A-Team Group

Now in its 9th year, the Eagle Alpha Alternative Data Conference managed by A-Team Group, is the premier content forum and networking event for investment firms and hedge funds.

GUIDE

Impact of Derivatives on Reference Data Management

They may be complex and burdened with a bad reputation at the moment, but derivatives are here to stay. Although Bank for International Settlements figures indicate that derivatives trading is down for the first time in 10 years, the asset class has been strongly defended by the banking and brokerage community over the last few...