Total amount raised
$189.1 Millions
Latest funding date
5/1/2024
Location
Crux has successfully raised significant funding over multiple rounds, attracting investments from major financial institutions like Citi, Goldman Sachs, Morgan Stanley, and Two Sigma. The platform specializes in external data automation, focusing on the integration, transformation, and observability of third-party data.
Keep reading to explore the intricacies of Crux's fundraising journey and the investors backing this innovative platform.
What Is Crux?
Crux, founded in October 2017, is based in San Francisco, California. The company was established by Lawrence E. Leibowitz.
Specializing in external data automation, Crux focuses on the integration, transformation, and observability of third-party data. Their platform automates data pipelines, ensuring seamless data operations between suppliers, consumers, and cloud platforms.
With a team of 51-100 employees, Crux helps enterprises scale their data delivery and transformation needs efficiently.
How Much Funding Has Crux Raised?
- Series A
- Amount Raised: $21.4M
- Date: March 2018
- Lead Investors: GS Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale data delivery and transformation capabilities.
- Series B
- Amount Raised: $50.2M
- Date: October 2018
- Lead Investors: Two Sigma
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance platform features.
- Convertible Note
- Amount Raised: $55.1M
- Date: December 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing development and operational scaling.
- Series B
- Amount Raised: $38.4M
- Date: January 2023
- Lead Investors: Goldman Sachs Asset Management, Two Sigma
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate roadmap development and sales and marketing efforts.
- Series B
- Amount Raised: $24M
- Date: May 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand platform capabilities and market presence.
Total Amount Raised: $189.1M. Current Valuation: Not publicly disclosed.
Key Investors
- Two Sigma
- Details: Two Sigma is a technology-driven investment manager that uses data science and technology to find value in the world's data. Founded in 2001, it employs over 1600 people and has offices in multiple global locations.
- Investment Focus Areas: Investment management, insurance, securities, private equity, venture capital.
- Notable Investments: Not publicly disclosed.
- Goldman Sachs Asset Management
- Details: The investment management arm of Goldman Sachs, providing investment and advisory services. It manages over $2 trillion in assets and has invested over $13 billion in growth-stage and technology-driven companies since 2003.
- Investment Focus Areas: Growth-stage and technology-driven companies, enterprise technology, financial technology, consumer, healthcare.
- Notable Investments: Not publicly disclosed.
- Citi
- Details: Citi is a global bank offering a wide range of financial products and services, including consumer banking, credit, corporate and investment banking, securities brokerage, and wealth management.
- Investment Focus Areas: Financial services, banking, investment.
- Notable Investments: Not publicly disclosed.
- Morgan Stanley
- Details: Morgan Stanley is a global financial services firm providing investment banking, securities, wealth management, and investment management services.
- Investment Focus Areas: Investment banking, securities, wealth management, investment management.
- Notable Investments: Not publicly disclosed.
- GS Growth
- Details: GS Growth is part of Goldman Sachs Asset Management, focusing on growth equity investments. It has been a key investor in Crux, co-leading several funding rounds.
- Investment Focus Areas: Growth-stage companies, technology-driven companies.
- Notable Investments: Not publicly disclosed.
What's Next for Crux?
Crux stands at the cusp of a significant opportunity in the external data technology market, with a Total Addressable Market (TAM) exceeding $40 billion. The launch of their self-service SaaS offering, the Crux External Data Platform, aims to democratize access to external data, potentially attracting a broader audience and increasing adoption by financial institutions and enterprises.
Given their recent $50 million funding round led by Two Sigma and Goldman Sachs Asset Management, Crux is well-positioned for future fundraising opportunities. Continued support from existing investors and potential new rounds could further accelerate their growth and market presence.
However, Crux faces challenges such as intense competition in the data integration space and the need to maintain rapid growth while scaling operations. Ensuring compliance with evolving regulations and continuously innovating to meet complex data management needs will be crucial for their sustained success.
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