Former Reuters figures secure seed backing for CRUX
Posted on October 21, 2020 by Jonathan Symcox
A British-Israeli start-up behind a new knowledge quantification platform has received £1m seed backing.
CRUX’s executive team includes former key figures at Reuters, including Chief Revenue Officer Christoph Pleitgen, who served as MD at the news agency.
The firm says that with an overwhelming volume of information on both publisher and corporate platforms, its deep tech supports digital media companies, financial services firms and management consultancies in helping users become more informed and engaged.
CRUX uses advanced Natural Language Processing to create unique ‘knowledge journeys’ around any topic by measuring users’ knowledge build-up in real time and directing them to the most valuable content for them. It is employed as a widget or API and has had live deployments in the last two years, including the Financial Times.
CEO and co-founder Barak Ronen said: “Information overload is everywhere, and it is making users disengage. Our unique technology empowers users by telling them how much they already know about any given topic and how to best increase their knowledge.
“Empowered users engage more and achieve better results. By objectively quantifying knowledge we are creating the currency for a true future knowledge economy.”
The investment round was led by WENVEST Capital and includes A-Round Capital and Founders Factory. CRUX will scale its publisher product offering, further develop its algorithm and engage with corporate design partners around new knowledge quantification use cases.
Bernd Wendeln, Managing Partner of WENVEST Capital, said: “The technology created by CRUX is a leap forward in terms of how we synthesise information.
“We see multiple exciting applications across large knowledge-rich markets starting with consulting, finance and publishing.
“CRUX has a great core team combining deep tech expertise and serious user and content insight and business experience. It is the right team to tackle the universal problem of information overload”.
CRUX is based in London and Tel Aviv and is a participant in the Founders Factory accelerator programme.