Total amount raised
$670.4 Millions
Latest funding date
06/01/2021
Location
Lucid Software has successfully raised significant funding over multiple rounds, establishing itself as a key player in the visual collaboration space. The platform offers tools like Lucidspark and Lucidchart, designed to accelerate work and innovation across various industries.
Keep reading to explore the intricacies of Lucid Software's fundraising journey and the investors backing this innovative platform.
What Is Lucid Software?
Lucid Software is a company that provides a work acceleration platform focused on visual collaboration and data-backed intelligence. They offer a suite of tools, including virtual whiteboarding and intelligent diagramming, to help teams ideate, plan, design, build, and launch solutions. Specific accelerators for Agile workflows, cloud transformation, and process improvement are also part of their offerings.
Unfortunately, the founding year, founding location, names of the founders, and the number of employees were not found in the provided sources.
How Much Funding Has Lucid Software Raised?
- Seed Round
- Amount Raised: $1M
- Date: July 2011
- Lead Investors: Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their initial product offerings.
- Seed Round
- Amount Raised: $4.4M
- Date: March 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product features and scale operations.
- Series A
- Amount Raised: $5M
- Date: May 2014
- Lead Investors: Kickstart
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance product development.
- Series B
- Amount Raised: $36M
- Date: September 2016
- Lead Investors: Spectrum Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve product offerings.
- Series C
- Amount Raised: $72M
- Date: October 2018
- Lead Investors: ICONIQ Growth, Meritech Capital Partners, Spectrum Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support international expansion and product innovation.
- Series D
- Amount Raised: $52M
- Date: April 2020
- Lead Investors: ICONIQ Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product capabilities and drive further growth.
- Series E
- Amount Raised: Not publicly disclosed
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and product development.
- Secondary Market
- Amount Raised: $500M
- Date: June 2021
- Lead Investors: Alkeon Capital
- Valuation at Round: $3 billion
- Motivation Behind the Round: To affirm category leadership and support continued growth and expansion.
Total Amount Raised: $670.4M
Current Valuation: $3 billion
Key Investors
The information requested about the major investors in Lucid Software and their details, investment focus areas, and notable investments could not be fully completed due to the limitations of the provided sources. Here is the information that could be gathered:
- Alkeon Capital
- Details: Alkeon Capital is a global investment firm that focuses on growth-stage companies. They are known for their long-term investment approach and deep industry expertise.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Not publicly disclosed.
- ICONIQ Growth
- Details: ICONIQ Growth is a global multi-family office and merchant bank. They provide strategic advice and investment management services to a select group of influential families.
- Investment Focus Areas: Technology, innovation-driven companies, financial services.
- Notable Investments: Not publicly disclosed.
- Meritech Capital Partners
- Details: Meritech Capital Partners is a venture capital firm that invests in late-stage technology companies. They focus on companies with proven business models and strong growth potential.
- Investment Focus Areas: Technology, software, internet services.
- Notable Investments: Not publicly disclosed.
- Spectrum Equity
- Details: Spectrum Equity is a growth equity firm that invests in internet-enabled software and information services companies. They provide capital and strategic support to help companies scale.
- Investment Focus Areas: Internet-enabled software, information services, digital media.
- Notable Investments: Not publicly disclosed.
- Google Ventures
- Details: Google Ventures, also known as GV, is the venture capital arm of Alphabet Inc. They invest in startups across various sectors and stages, providing funding and strategic support.
- Investment Focus Areas: Technology, life sciences, consumer products.
- Notable Investments: Not publicly disclosed.
Unfortunately, the specific notable investments for each investor were not found in the provided sources. The information about the involvement of each investor with Lucid Software was also limited to their participation in various funding rounds.
What's Next for Lucid Software?
Lucid Software stands at the cusp of significant growth opportunities, driven by the increasing demand for visual collaboration tools in hybrid work environments. With products like Lucidchart and Lucidspark gaining traction, the company is well-positioned to expand its market reach and enhance its product offerings.
Future fundraising opportunities appear promising, especially given the recent $500 million secondary investment. This influx of capital could fuel further international expansion and product innovation, solidifying Lucid's market leadership.
However, challenges such as intense competition and the need to maintain rapid growth and innovation could pose hurdles. Navigating these challenges will be crucial for Lucid Software as it continues its upward trajectory.
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