Funding round
Lucid Series D
Lucid, which works in visual collaboration platform development in South Jordan, raised $52M in a Series D round announced on 16 Apr 2020, led by ICONIQ Capital, at a $1.00B post-money valuation. 4 firms took part. It is Lucid's sixth venture round on record; the one before was a Series C in Jan 2018.
$52M
Amount raised
$1.00B
Post-money valuation
$948M pre-money
4
Investors
1 lead
5.2%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Lucid at $1.00B after the new money. The $52M bought investors about 5.2% of the company. It came 27 months after Lucid's Series C. It is 7.2% of the $726M Lucid has raised in the venture rounds on record. Lucid raised again 14 months later: a Growth round of $500M in Jun 2021, at $3.00B 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 1 Jan 2018, led by Meritech Capital and ICONIQ Capital $72M
- Series D this round 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
ICONIQ Capital led the round with 3 other firms.
Lead investor
- ICONIQ Capital new investor
Also in the round
- Meritech Capital backs 84 venture-backed companies new investor
- backs 24 venture-backed companies new investor
- Cross Creek 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, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
152 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $62M, and this round was 84% of the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 28 Apr 2020 | $55M | not disclosed | Georgian and Inovia |
| Tech Companies | 21 Apr 2020 | $50M | $344M | not named |
| Tech Companies | 6 Apr 2020 | $43M | not disclosed | not named |
| Tech Companies | 27 Apr 2020 | $36M | not disclosed | SoftBank Vision Fund |
| Tech Companies | 6 Apr 2020 | $30M | not disclosed | Viola Group |
| Tech Companies | 28 Apr 2020 | $15M | not disclosed | not named |
| Mapbox Tech Companies | 1 Apr 2020 | undisclosed | $1.20B | not named |
| Tech Companies | 19 Mar 2020 | $400M | not disclosed | not named |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Lucid raise in its Series D round?
Lucid raised $52M in its Series D round, announced in Apr 2020.
Who led Lucid's Series D round?
ICONIQ Capital led it, with Meritech Capital, Spectrum Equity and Cross Creek.
What was Lucid's valuation at the Series D round?
$1.00B post-money ($948M pre-money).
How does it compare with other Series D rounds in Tech Companies?
152 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $62M, and this round was 84% of the median.
Did Lucid raise again after this round?
Yes: a Growth round in Jun 2021 of $500M at $3.00B post-money.