Reuters: Goldman Sachs leads $10 million investment round in data startup Crux
Originally published November 8, 2017 at Reuters
Author: Anna Irrera
Crux’s platform processes the data for financial firms, including banks, hedge funds, private equity groups and insurers, so they can focus resources on carrying out more differentiating tasks such as building artificial intelligence algorithms to extract value from the information.
This removes the biggest pain point, or “crux” of data analytics in finance, said Philip Brittan, chief executive of Crux.
“Everyone is looking at how to get more data and how to get more value out of the data that they have,” Brittan said in an interview. But “firms spend the majority of their data time on stuff that is not differentiated,” he added.
Crux does not sell or resell the data, but has established a network of information suppliers to help clients discover new sources.