Funding round
Lucid Series B
Lucid, which works in visual collaboration platform development in South Jordan, raised $36M in a Series B round announced on 1 Jan 2016, led by Spectrum Equity. 1 firm took part. It is Lucid's third venture round on record; the one before was a Series A in May 2014.
$36M
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 20 months after Lucid's Series A. It is 5.0% of the $726M Lucid has raised in the venture rounds on record. Lucid raised again 15 months later: a Growth round of $60M in Apr 2017. 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 this round 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
Spectrum Equity led the round.
Lead investor
- Spectrum Equity new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, geographic expansion, sales and marketing and scaling operations.
- Hiring
- Geographic expansion
- Sales and marketing
- Scaling operations
Comparable rounds
How it compares
244 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $15M, and this round was 2.4 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 31 Jan 2016 | $50M | not disclosed | 20th Century Fox and The Walt Disney Company |
| Tech Companies | 21 Jan 2016 | $50M | $625M | Fidelity Management and Research Company |
| Tech Companies | 23 Jan 2016 | $40M | not disclosed | not named |
| Branch Tech Companies | 27 Jan 2016 | $35M | not disclosed | Founders Fund |
| Patreon Tech Companies | 19 Jan 2016 | $30M | not disclosed | Thrive Capital |
| Tech Companies | 12 Jan 2016 | $22M | not disclosed | Bessemer Venture Partners |
| Tech Companies | 27 Jan 2016 | $20M | not disclosed | Scale Venture Partners |
| Tech Companies | 1 Jan 2016 | $20M | not disclosed | Aramco Ventures |
Questions
Frequently asked
How much did Lucid raise in its Series B round?
Lucid raised $36M in its Series B round, announced in Jan 2016.
Who led Lucid's Series B round?
Spectrum Equity led it.
What was Lucid's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
244 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $15M, and this round was 2.4 times the median.
Did Lucid raise again after this round?
Yes: a Growth round in Apr 2017 of $60M.