Funding round
Lucid Series C
Lucid, which works in visual collaboration platform development in South Jordan, raised $72M in a Series C round announced on 1 Jan 2018, led by Meritech Capital and ICONIQ Capital. 3 firms took part, 1 of them already investors. It is Lucid's fifth venture round on record; the one before was a Growth in Apr 2017.
$72M
Amount raised
Not disclosed
Post-money valuation
3
Investors
2 leads
Valuation
What this round says about the price
Lucid did not disclose a valuation in this round. It came 9 months after Lucid's Growth. It is 9.9% of the $726M Lucid has raised in the venture rounds on record. Lucid raised again 27 months later: a Series D round of $52M in Apr 2020, at $1.00B post-money.
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 this round 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
Meritech Capital and ICONIQ Capital led the round with 1 other firm. Spectrum Equity had backed Lucid before.
Lead investors
- Meritech Capital backs 84 venture-backed companies new investor
- ICONIQ Capital new investor
Also in the round
- Spectrum Equity existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
178 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $35M, and this round was 2.1 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 19 Jan 2018 | $55M | not disclosed | Bain Capital Ventures |
| Tech Companies | 15 Jan 2018 | $55M | not disclosed | Georgian |
| Tech Companies | 1 Jan 2018 | $42M | not disclosed | not named |
| Tech Companies | 29 Jan 2018 | $40M | not disclosed | Sutter Hill Ventures |
| Tech Companies | 4 Jan 2018 | $38M | not disclosed | B Capital and Prime Ventures |
| Tech Companies | 17 Jan 2018 | $31M | not disclosed | Top Tier Capital Partners |
| Tech Companies | 16 Jan 2018 | $27M | not disclosed | Georgian |
| Tech Companies | 1 Jan 2018 | $21M | not disclosed | Transformation Capital |
Questions
Frequently asked
How much did Lucid raise in its Series C round?
Lucid raised $72M in its Series C round, announced in Jan 2018.
Who led Lucid's Series C round?
Meritech Capital and ICONIQ Capital led it, with Spectrum Equity.
What was Lucid's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Tech Companies?
178 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $35M, and this round was 2.1 times the median.
Did Lucid raise again after this round?
Yes: a Series D round in Apr 2020 of $52M at $1.00B post-money.