Crux Announces Industry's First External Data Platform

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May 16, 2023, 09:00 ET

The Crux External Data Platform empowers data engineers to deliver data-science and analytics-ready external datasets to the cloud, accelerating decision-making

SAN FRANCISCO, May 16, 2023 /PRNewswire/ -- Crux, a pioneer in the external data integration, transformation, and observability space, today announced the launch of the Crux External Data Platform ("EDP"), the first SaaS offering that enables enterprises to automate the onboarding of any external dataset directly from vendors into their organization, driving better, faster decisions. The new self-service cloud platform allows data teams to onboard and transform external data for analytics use up to ten times faster than traditional manual methods.

"The Crux External Data Platform is truly transformative," said Will Freiberg, CEO of Crux. "Just as the cloud made it possible for enterprises to reduce infrastructure and maintenance costs, consolidate on-premises data warehouses, scale on-demand, and immediately access key resources, the Crux platform removes critical pre-processing bottlenecks, empowering data engineers to onboard external data products into their data warehouse or cloud analytics environments in minutes."

External data from governments, non-profits, and commercial data vendors is a critical business resource in many sectors such as finance, supply chain, retail, healthcare, and insurance. Crux has partnerships with over 265 leading data providers including MSCI, Moody's, S&P, SIX, FactSet, and Morningstar.

Crux builds data pipelines at scale, offering enterprises the ability to ingest any custom data source, and operates more than 60,000 pre-engineered pipelines to deliver external datasets in a data science and analytics-ready format. Now, Crux is making its robust capabilities directly available to data engineers with the Crux External Data Platform. Through its multi-tenant, secure SaaS platform, Crux ensures data is delivered reliably with protected, role-based access and customizable operations applicable to data products, connections, notification policies, users, and system wide settings. The platform reduces the need for expensive infrastructure and increases of velocity of data engineering teams. Additionally, EDP presents customers with one centralized data hub for visibility into the health and performance of their organization's catalog of external data pipelines. With intuitive automation and pattern recognition, data teams can immediately select and access new datasets, minimizing the time and effort required to access new data for faster insights.

According to a Gartner^® report, "The increased adoption of cloud as a data platform has exacerbated existing challenges with application time to market, data quality and integration issues, analytics shortfalls, poor performance, and cost management. Data professionals are turning to artificial intelligence (AI)- and machine learning (ML) driven automation in hopes of better optimizing these data management (DM) related areas."¹

Early customers, including Two Sigma and Goldman Sachs, are leveraging the platform's advanced AI and ML capabilities to automate and streamline data workflows, decreasing the need for manual intervention and improving accuracy. With robust security and governance features, the platform ensures data is handled in a compliant and secure manner.

"Managing external data is a special kind of hard," said Dan Lynn, SVP of Products. "Now, Crux provides the industry's first self-service SaaS platform for data integration, transformation, and observability that is specifically designed to tackle the unique challenges of external data. It's an opportunity for data engineers to flip the ratio from 70% of time spent preparing data to 70% of time driving higher value analytics and insights."

"Integrating, transforming, and absorbing data into our pipelines is a key focus for us," said Jeff Wecker, CTO, Two Sigma. "Crux's EDP product launch will help us scale the capacity of our data pipelining activities, delivering a quicker path to high-quality data sets and faster access to systematic data-driven insights for our researchers."

"We are excited to have collaborated with Crux in shaping their product roadmap and helping drive towards the launch of Crux's new EDP offering," said Abhishek Narang, Managing Director & Tech Fellow, Data Engineering at Goldman Sachs. "Leveraging Crux in our Data Engineering framework and the Legend Platform at Goldman Sachs has further reduced the time-to-value of our third-party data assets, helping to enable us to operate more efficiently and best serve clients. With the launch of EDP, it is satisfying to see so much of the work we have accomplished together now mechanized in an easily accessible self-service product offering."

About Crux

Crux is a cloud-based data integration, transformation, and operations platform that accelerates the value realization between external and internal data. Crux partners with our customers to ensure they get the data they need, how they need it and where they need it. Its team builds data pipelines at scale and operates over 60K pre-engineered pipelines, delivering public and external datasets to the destination of choice. Crux pipelines come with embedded data monitoring, validations, and transformations, and are supported 24/7 by our global operations team. Crux was awarded a Google Cloud Customer Award in 2021 in the Cross-Industry category. Crux works with enterprise clients and is backed by Two Sigma, Goldman Sachs, Morgan Stanley, and Citi, among others.

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^¹Gartner, Changing and Emerging Data Management Needs Product Managers Must Address, Robin Schumacher, Sharat Menon, 17 April 2023. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved

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