Funding round
Lucid Seed
Lucid, which works in visual collaboration platform development in South Jordan, raised $1.0M in a Seed round announced on 26 Jul 2011. 3 firms took part, with 1 individual investor. It is Lucid's first venture round on record.
$1.0M
Amount raised
Not disclosed
Post-money valuation
3
Investors
no lead named
Valuation
What this round says about the price
Lucid did not disclose a valuation in this round. It is Lucid's first venture round on record, 1 year after it was founded in 2010. It is under 1% of the $726M Lucid has raised in the venture rounds on record. Lucid raised again 34 months later: a Series A round of $5.0M in May 2014. 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 this round 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 24 Jun 2021 $500M$3.00B post-money
Investors
Who put money in
3 firms took part; no lead investor was named.
Investors
- 500 Global backs 327 venture-backed companies new investor
- backs 4 venture-backed companies new investor
- backs 23 venture-backed companies new investor
Individual investors: several angel investors.
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
78 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $1.2M, and this round was 83% of the median. The closest in time, other companies' Seed rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 6 Jul 2011 | $1.5M | not disclosed | not named |
| Tech Companies | 11 Jul 2011 | $1.2M | not disclosed | not named |
| Tech Companies | 1 Jul 2011 | $1.0M | not disclosed | Quest Venture Partners |
| Tech Companies | 1 Jul 2011 | $200K | not disclosed | not named |
| Tech Companies | 1 Jun 2011 | $1.3M | not disclosed | not named |
| Tech Companies | 8 Jun 2011 | $1.1M | not disclosed | not named |
| Tech Companies | 9 Jun 2011 | $1.0M | not disclosed | Passion Capital |
| Tech Companies | 1 Aug 2011 | undisclosed | not disclosed | not named |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Lucid raise in its Seed round?
Lucid raised $1.0M in its Seed round, announced in Jul 2011.
Which investors took part in Lucid's Seed round?
500 Global, 2M and K9 Ventures.
What was Lucid's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Tech Companies?
78 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $1.2M, and this round was 83% of the median.
Did Lucid raise again after this round?
Yes: a Series A round in May 2014 of $5.0M.