Lucid joined the Unicorn Club on April 16, 2020 after raising a $52 million Series C funding round led by Iconiq Capital. Headquartered in South Jordan, Utah, United States, Lucid provides enterprise collaboration solutions including Lucidchart, an intelligent diagramming tool; Lucidspark, a virtual whiteboard for team collaboration; and Lucidscale, a cloud visualization platform to help businesses plan and build efficiently.
Keep reading to learn how Lucid became a leader in enterprise collaboration and visualization tools.
What Is Lucid and What Does It Do?
Founded in 2010, Lucid offers a suite of enterprise collaboration products. Lucidchart enables intelligent diagramming and process visualization. Lucidspark provides a collaborative virtual whiteboard for brainstorming and planning. Lucidscale allows businesses to visualize and manage cloud infrastructure. The platform helps teams collaborate in real-time, streamline workflows, and enhance operational efficiency across organizations.
How Much Funding Has Lucid Raised?
1. Seed Round
- Amount Raised: $10 million
- Date: 2010–2012
- Lead Investors: Meritech
- Purpose: Launch Lucidchart, develop core collaboration tools, and build engineering team
2. Series A Round
- Amount Raised: $24 million
- Date: 2014
- Lead Investors: G Squared
- Purpose: Expand product suite, improve user experience, and grow enterprise adoption
3. Series B Round
- Amount Raised: $80 million
- Date: 2017
- Lead Investors: Meritech, G Squared
- Purpose: Scale Lucidchart and Lucidspark, hire globally, and enhance platform capabilities
4. Series C Round
- Amount Raised: $52 million
- Date: April 16, 2020
- Lead Investors: Iconiq Capital
- Purpose: Expand cloud visualization tools, grow engineering team, and accelerate enterprise adoption
Total Funding Raised: $166 million
Latest Funding Date: April 16, 2020
Latest Known Valuation: $3 billion
Key Investors
- Meritech
- Details: Growth-stage venture capital firm investing in enterprise software and SaaS startups
- Focus Areas: Collaboration tools, enterprise software, and productivity platforms
- G Squared
- Details: Venture capital firm supporting high-growth technology companies
- Focus Areas: Enterprise collaboration, SaaS platforms, and cloud-based software
Where Is Lucid’s Headquarters?
Lucid is headquartered in South Jordan, Utah, United States, supporting product development, engineering, and operations for its suite of collaboration and visualization tools.
What’s Next for Lucid?
Lucid plans to expand its enterprise collaboration platform globally, enhance Lucidspark and Lucidscale capabilities, and develop AI-powered features to streamline workflow and planning. The company aims to increase adoption across enterprises and improve real-time team collaboration.
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