Funding round
Lucid Growth
Reported as "Growth Equity"
Lucid, which works in visual collaboration platform development in South Jordan, raised $500M in a Growth round announced on 24 Jun 2021, at a $3.00B post-money valuation. 8 firms took part. It is Lucid's seventh venture round on record; the one before was a Series D in Apr 2020.
$500M
Amount raised
$3.00B
Post-money valuation
8
Investors
no lead named
3.0x
Step-up from the Series D
$1.00B in Apr 2020
17%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Lucid at $3.00B after the new money, 3.0 times the $1.00B of its Series D (Apr 2020). The $500M bought investors about 17% of the company. It came 14 months after Lucid's Series D. It is 69% of the $726M Lucid has raised in the venture rounds on record. No later venture round is on record for Lucid.
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 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 this round 24 Jun 2021 $500M$3.00B post-money
Investors
Who put money in
8 firms took part; no lead investor was named.
Investors
- Alkeon backs 51 venture-backed companies new investor
- Tiger Global new investor
- Steadfast Capital Ventures new investor
- Spectrum Equity new investor
- ICONIQ Capital new investor
- Meritech Capital new investor
- Grayhawk Capital new investor
- backs 67 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing and scaling operations.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
Comparable rounds
How it compares
405 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $60M, and this round was 8.3 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Thumbtack Tech Companies | 15 Jun 2021 | $275M | $3.20B | Qatar Investment Authority and Blackstone |
| Tech Companies | 29 Jun 2021 | $230M | not disclosed | Goldman Sachs Asset Management |
| AlayaCare Tech Companies | 30 Jun 2021 | $183M | not disclosed | Generation Investment Management |
| Tech Companies | 8 Jun 2021 | $130M | not disclosed | TA Associates |
| Tech Companies | 2 Jun 2021 | $100M | not disclosed | TPG |
| Tech Companies | 29 Jun 2021 | $100M | not disclosed | TPG |
| Tech Companies | 17 Jun 2021 | $75M | not disclosed | Sunstone Partners |
| Tech Companies | 28 Jun 2021 | $75M | not disclosed | Brighton Park Capital |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Lucid raise in its Growth round?
Lucid raised $500M in its Growth round, announced in Jun 2021.
Which investors took part in Lucid's Growth round?
Alkeon, Tiger Global, Steadfast Capital Ventures, Spectrum Equity, ICONIQ Capital and Meritech Capital and 2 more.
What was Lucid's valuation at the Growth round?
$3.00B post-money.
How does it compare with other Growth rounds in Tech Companies?
405 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $60M, and this round was 8.3 times the median.