Goldman Sachs Leads Funding Round in Data Science Startup Crux Informatics

Data science startup Crux Informatics announced a $10 million round of funding today, led by Goldman Sachs.

Crux is a startup that allows financial institutions to outsource their data processing to gain further insights from that data. The startup plans to use the $10 million for business expansion, Reuters reports.

Big data and data insight has become a key factor in financial services, and banks like Goldman continue to invest in faster, more efficient ways to manage information.

The bank invested in Crux through its investment division, called Principal Strategic Investment, which funds fledgling companies in the fintech space.

Read more at Reuters and TechCrunch.

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Grace Noto is Associate Editor of Bank Innovation. She has an MA from the University of Essex, as well as BA in English and a BA in Journalism from SUNY New Paltz. Prior to joining Bank Innovation in the summer of 2016, she worked on Electronic Products Magazine, an online publication surrounding technology and computer engineering, and has worked for other publications, including the Poughkeepsie Journal. She also writes in her spare time, and really needs more hobbies.

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