Total amount raised
$64.6 Millions
Latest funding date
Location
Lucid has successfully raised significant funding over multiple rounds, culminating in its acquisition by Cint for $580 million.
Keep reading to explore the intricacies of Lucid's fundraising journey and the investors backing this innovative platform.
What Is Lucid?
Lucid, founded in 2010 by Patrick Comer and Walton Comer, is headquartered in New Orleans, Louisiana.
The company specializes in providing deterministic data about human behavior at scale, primarily through its global marketplace for market research samples, Fulcrum.
With a workforce of 101-250 employees, Lucid has made significant strides in the market research industry, offering tools and platforms for digital media measurement and programmatic buying and selling.
How Much Funding Has Lucid Raised?
- Seed Round
- Amount Raised: $355K
- Date: July 2010
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to establish the company and develop its core product offerings.
- Series A
- Amount Raised: $2.8M
- Date: November 2011
- Lead Investors: Sopris Capital Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's market reach and enhance its product capabilities.
- Venture Round
- Amount Raised: $399.5K
- Date: February 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing product development and operational costs.
- Venture Round
- Amount Raised: $1M
- Date: April 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the company's operations and market presence.
- Series B
- Amount Raised: $60M
- Date: April 2017
- Lead Investors: North Bridge Venture Partners & Growth Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale globally and solidify its position as a leader in the market research industry.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue expanding its product offerings and market reach.
Total Amount Raised: $64,554,500. Current Valuation: Not publicly disclosed.
Key Investors
- North Bridge Venture Partners & Growth Equity
- Details: North Bridge Venture Partners & Growth Equity is a private equity firm that led Lucid's $60 million Series B funding round. The firm focuses on growth equity investments in companies that have demonstrated product-market fit and are looking to scale.
- Investment Focus Areas: Technology, healthcare, software.
- Notable Investments: Acquia, Dyn, Proto Labs.
- Sopris Capital Associates
- Details: Sopris Capital Associates is a venture capital firm that led Lucid's $2.8 million Series A funding round. The firm specializes in early-stage investments in high-growth companies.
- Investment Focus Areas: Healthcare, technology, business services.
- Notable Investments: Health Catalyst, InTouch Health, MedHOK.
- Revolution
- Details: Revolution is a venture capital firm that invests in transformative companies. The firm is known for its focus on companies outside of traditional tech hubs.
- Investment Focus Areas: Technology, consumer products, healthcare.
- Notable Investments: Sweetgreen, DraftKings, Zipline.
- Revolution’s Rise of the Rest Seed Fund
- Details: Revolution’s Rise of the Rest Seed Fund invests in startups outside of Silicon Valley, New York City, and Boston. The fund aims to support high-growth companies in emerging ecosystems.
- Investment Focus Areas: Technology, consumer products, healthcare.
- Notable Investments: AppHarvest, Catalyte, BacklotCars.
What's Next for Lucid?
Lucid's future looks promising as it aims to dominate the global market research industry. With a strong foothold in the U.S., the company is set to expand its presence in Europe, the Middle East, and Africa. Leveraging its automated sample marketplace, Fulcrum, Lucid is poised to disrupt traditional market research methods, offering faster and more scalable solutions.
Given its impressive 70% year-over-year revenue growth and a successful $60 million funding round, Lucid is well-positioned to attract further investment. However, the company will need to navigate challenges such as intense competition and the complexities of scaling operations globally. Maintaining high growth rates and customer satisfaction will be crucial as Lucid continues its expansion.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Lucid and gather other critical business insights.
Sign up for free on Clay and start making data-driven decisions today.
