NEW YORK, Sept. 6, 2018 /PRNewswire/ -- Crux Informatics ("Crux"), a leading data engineering and information supply chain operator, announced it had entered into a strategic partnership with Two Sigma, one of the world's largest systematic investment management firms. As part of the partnership, Two Sigma is making a minority equity investment in Crux, joining Goldman Sachs and Citi, two of Crux's other investors, to help Crux grow its platform to meet the data-hungry demands of the financial services industry. Terms of the deal were not disclosed.
As the ubiquity and importance of data continues to increase, companies are spending too much time ingesting, cleaning and structuring data sets. These resource-intensive tasks burden companies that could otherwise devote more time to interpreting and analyzing data. Crux will support Two Sigma in performing the critical processes to extract, transform and load data, commonly referred to as ETLs, enabling Two Sigma to focus more fully on its differentiated capabilities of finding value in the data.
Philip Brittan, CEO of Crux, said: "We are thrilled to have Two Sigma support Crux in such a direct way. Demand for our solutions has been growing, and Two Sigma's endorsement of our platform and approach is a true validation of our mission. Two Sigma is a leader in its approach to data science and we look forward to partnering on best practices and shared insights, and continuing to build a solution that redefines how an industry thinks about consuming and distributing data. We are creating a new category of data platforms and look forward to working with Two Sigma and others to continue our success."
Ali-Milan Nekmouche, Chief Data Strategist for Two Sigma, said: "Crux is building a unique and scalable technology that is addressing a critical aspect of the data science workflow, where mutualization across data consumers will yield significant industry-wide efficiencies. By partnering with Crux, we not only hope to broaden the spectrum of datasets we can use to measure and model markets around the world, but also renovate the way that data is generated and consumed across the data-driven economy. We look forward to partnering with Crux and the consortium of investors on ushering in a world-class industry solution to ingest data of all shapes and sizes at a never before seen scale."
Crux will execute on a broad range of data sets, including Fundamental, Macro, Risk and Alternative data suppliers, among others.
About Crux Informatics Crux was built to solve the pain of acquiring usable data faster by helping firms find, explore, and transform data with ease. Crux offers a Data Engineering Managed Service on its Informatics Platform to take on the burdensome and non-differentiating aspects of our customers' information supply chains, so they can focus on what really matters most: driving actionable insights for their businesses. At Crux, we make data delightful. For more information, please visit www.cruxinformatics.com.
About Two Sigma Two Sigma is an investment management firm that follows the principles of technology and innovation to find value in the world's data. Since its founding in 2001, Two Sigma has built an innovative platform that combines extraordinary computing power, vast amounts of information, and advanced data science to produce breakthroughs in investment management, insurance and related fields. As of August 1, 2018, Two Sigma manages approximately $55 billion in assets, including employee and proprietary capital, employs more than 1,400 people and has offices in New York, Hong Kong, Tokyo, Houston and London. For more information, please visit www.twosigma.com.