Funding round
Lucid Growth
Reported as "Growth Equity"
Lucid, which works in visual collaboration platform development in South Jordan, raised $60M in a Growth round announced on 11 Apr 2017, led by North Bridge Venture Partners. 1 firm took part. It is Lucid's fourth venture round on record; the one before was a Series B in Jan 2016.
$60M
Amount raised
Not disclosed
Post-money valuation
1
Investors
1 lead
Valuation
What this round says about the price
Lucid did not disclose a valuation in this round. It came 15 months after Lucid's Series B. It is 8.3% of the $726M Lucid has raised in the venture rounds on record. Lucid raised again 9 months later: a Series C round of $72M in Jan 2018. Its next priced round, a Series D in Apr 2020, valued it at $1.00B.
Lucid's funding rounds
Lucid has 7 venture rounds on record. This one is highlighted.
- Seed 26 Jul 2011 $1.0M
- Series A 29 May 2014 $5.0M
- Series B 1 Jan 2016, led by Spectrum Equity $36M
- Growth this round 11 Apr 2017, led by North Bridge Venture Partners $60M
- Series C 1 Jan 2018, led by Meritech Capital and ICONIQ Capital $72M
- Series D 16 Apr 2020, led by ICONIQ Capital $52M$1.00B post-money
- Growth 24 Jun 2021 $500M$3.00B post-money
Investors
Who put money in
North Bridge Venture Partners led the round.
Lead investor
- backs 15 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
104 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $40M, and this round was 1.5 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 27 Apr 2017 | $120M | not disclosed | not named |
| Tech Companies | 1 Apr 2017 | $96M | not disclosed | not named |
| Tech Companies | 5 Apr 2017 | $89M | not disclosed | ST Telemedia and Stephens Group |
| Tech Companies | 25 Apr 2017 | $40M | not disclosed | JMI Equity |
| Tech Companies | 17 Apr 2017 | $40M | not disclosed | not named |
| Tech Companies | 26 Apr 2017 | $25M | not disclosed | not named |
| Tech Companies | 18 Apr 2017 | $1.5M | not disclosed | FrontRange Capital |
| Tech Companies | 31 May 2017 | $1.13B | not disclosed | HGGC |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Lucid raise in its Growth round?
Lucid raised $60M in its Growth round, announced in Apr 2017.
Who led Lucid's Growth round?
North Bridge Venture Partners led it.
What was Lucid's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Tech Companies?
104 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $40M, and this round was 1.5 times the median.
Did Lucid raise again after this round?
Yes: a Series C round in Jan 2018 of $72M.