Data Integration and Observability Provider Crux Nabs $50m in Funding
Crux, a cloud-based provider of data integration and observability tools that claims to have more than 250 data connectors, today announced that it raised $50 million in a Series B round of venture capital. The San Francisco company also announced that it had $75 million in bookings over the past 18 months, and that it’s launching a new SaaS offering for external data.
Philip Brittan founded Crux in 2017 with a plan to streamline data integration and reduce the frustration involved with it, particularly for external data. Brittan, who currently works as a vice president of engineering and product at Google, was driven by a belief that data pipelines connecting external data sources with cloud destinations can be created without time-consuming data engineering, operations, and wrangling tasks.
The company develops a suite of cloud-based data integration tools to tackle this data management challenge. The platform, dubbed Crux Deliver, allows users to create data pipelines using 265 pre-built data connectors (some developed by the vendor, some available in the public realm) for a variety of data sources.
In addition to moving data, Crux provides additional data management capabilities, including transformation and blending of data; schema management and scheduling; data quality monitoring and reporting; and data cataloging. The solution is delivered as a secure cloud solution that is managed by Crux employees, therefore freeing customers to work on other tasks.
To date, the startup reports that it has created more than 25,000 “pre-engineered pipelines” to its customers, connecting data sources to cloud-based warehouses such as Snowflake, Databricks, and Amazon Redshift. Much of the data appears to be of the “equity, social, and governance” (ESG) variety.
Sales appear to be looking up for the cloud startup, which says it has recorded $75 million in contractual sales commitments and has an annual recurring revenue (ARR) over 260%. To accelerate growth, company completed its Series B round of venture funding, which netted Crux $50 million from Two Sigma and Goldman Sachs Asset Management. That puts the company’s total funding at $157 million.
The company is also close to formally introducing its first software as a service (SaaS) offering, dubbed the Crux External Data Platform. The offering will make “enterprise-grade integration, transformation, and observability of external data…available to a much wider audience.” Interested beta testers can request access to the platform at www.cruxdata.com/access.
“As demand grows worldwide for a platform that can accelerate the realization of value from external datasets by delivering information that is data science- and analytics-ready, I am excited to share the momentum that Crux has been delivering over the past 18 months and our new funding that will continue to fuel our disruption of the space,” Crux CEO Will Freiberg stated in a press release.
Editor’s note: This article was corrected. Crux’s CEO is Will Freiberg. Datanami regrets the error.