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.