Round signals significant market demand for more dataset availability and data validation, schema protection, and data transformation capabilities via the Crux platform
NEW YORK, NY / ACCESSWIRE / January 27, 2021 / Crux Informatics (Crux), a data engineering company that manages thousands of data pipelines for companies, has closed a $36M convertible note with its existing investors. The company also announced today the upcoming launch of two new products: Crux Protect and Crux Wrangle in 2021. The products are part of a broader strategy to continue the rapid increase of datasets and services available to the company's expanding client base.
"2020 was a milestone year for Crux, launching three products, doubling the number of data supplier partnerships and increasing by tenfold both the number of datasets delivered and the number of clients served on our platform. We're quickly carrying that momentum by putting this capital to work to significantly deepen the number of datasets on our platform across a growing range of categories," said Philip Brittan, Founder and CEO of Crux Informatics. "In addition, with Crux Protect and Crux Wrangle, we see tremendous opportunity to provide unparalleled reliability and flexibility to meet client data management requests."
Crux offers a high-scale, fast, and cost-effective data delivery and operations service for clients. Today, Crux delivers over 14,000 datasets on an ongoing basis and has more than 700 million data files under management. With this financing, the company plans to significantly grow this amount to deliver any dataset from any data supplier to any data consumer via its platform. The Crux service is broadly applicable, and the company has signed up a wide range of clients, including hedge funds, asset managers, sovereign wealth funds, commodity trading advisors, banks, fund administrators, exchanges, large and small traditional and alternative data vendors, cloud data warehouse providers, and analytics platforms.
"We've been using Crux for almost two years now at Two Sigma and are happy with the company's ability to meet our high standards," said Jeff Wecker, Chief Technology Officer at Two Sigma. "We consume a large number of datasets from a wide range of sources through Crux, which simplifies our ingestion and operational burden dramatically, allowing us to focus our team on higher-value and more differentiated activities. We are impressed by Crux's customer focus, service level, data inventory and the continual acceleration we see in dataset onboarding."
By launching Crux Protect and Crux Wrangle, the company now seeks to give customers tools to validate and transform data to meet their individual needs. These product features have emerged as top requests from clients and prospects.
- Crux Protect is an integrated data quality service that will enable users to run advanced validations - confirm that individual data points and structures meet specifications - and anomaly detections - identify and determine if any received data is unexpected based on past behavior and domain expertise, including guarding against unanticipated changes in schema structures.
- Crux Wrangle is "data engineering as a service", which allows clients to transform, normalize, and enrich data to meet their specific use cases, all in a managed service with 24x7 operational oversight.
Together, these new products will provide an unparalleled level of customized data management, giving clients more reliability and control over their data ingestion and transformation processes.
In addition to the before mentioned milestones, Crux also deepened its partnerships with major cloud providers Amazon Web Services (AWS), Snowflake, Google Cloud Platform (GCP), and Microsoft Azure, and it launched three new products in 2020:
- Crux Discover, a powerful and flexible metadata browser that enables users to quickly navigate and explore all the datasets that suppliers are delivering via Crux and easily view those that align with their investment philosophy.
- Crux Query, an application on the Crux platform that enables users to quickly query into their datasets without having to pull all the data into their environment.
- Crux Deliver for Suppliers, a turnkey, managed service that provides powerful technology capabilities to support delivery expansion for suppliers at a fraction of the cost of developing their own infrastructure.
If you would like to learn more about the datasets and products available on the Crux platform, please reach out to [email protected].
About Crux Informatics
Crux is a data engineering company that helps organizations scale their most critical data delivery, operations, and transformation needs. Our cloud-based technology stack and managed services enables you to reliably get the data you need, how you need it and where you need it. We deliver over 14K datasets from hundreds of sources into your preferred destination at a low cost, with custom validations and transformations, and at a consistently high-level of service and security. Crux was founded in 2017 by financial technology veterans and is backed by Citi, Goldman Sachs, Morgan Stanley, and Two Sigma, among others.
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SOURCE: Crux Informatics