NEW YORK — Crux Analytics is reporting it has raised $2.2 million in seed funding to expand its team and develop technology aimed at helping financial institutions build relationships with small businesses.
Castle Creek Launchpad, a venture fund backed by 34 community banks, led the roundm with Chartway Ventures, One Washington Financial and Curql— all credit union-owned investment funds — also participating, according to Crux. The company said the round brings its total funding to $3.2 million. It did not disclose how much each investor contributed.
Crux sells software that helps banks and credit unions identify potential small-business clients, research and prioritize prospects, tailor outreach and monitor existing relationships. The company says the tools are designed to reduce the administrative work involved in business development, giving employees more time to work directly with clients.
“We built Crux for community banks and credit unions, and what we learned there is that the same relationship problem exists across the small business economy,” said Jacob Bennett, the company’s co-founder and CEO. He said Crux is also pursuing opportunities with alternative lenders, commercial insurers and real estate operators.
Rob Keatts of Chartway Ventures said credit unions have struggled to expand relationship-based service to local businesses. He said Crux’s technology could help them support more business members.
New York-based Crux was founded in 2023 by Bennett and his brother Nathan Bennett, the company’s chief technology officer. Crux said it will use the new funding to hire employees and accelerate product development.
