I asked Sun about it, noting that the two most obvious ways to read the smaller figure was that the company was either in trouble or that it did not need much more money. You’ll notice Lucid raised less ($52 million) in this round than it did in its preceding capital event, a $72 million investment. With this cloud-based solution, users can work visually and collaborate in real-time while building flowcharts, mockups, and UML diagrams. The two products have helped the company attract around $166 million in capital so far, per Crunchbase and our own calculations. What is Lucidchart Lucidchart is a diagramming application that helps teams to clarify complexity, align their insights, and build faster. (Incidentally, while prepping this piece, I found out my partner was a big Lucidchart user during her graduate education.) Lucidpress helps companies build branded materials and content.
#Lucid software software#
Lucidchart is a cloud software tool that lets users (and teams) build visual data representations like flow charts, org layouts and the like. Lucid is a software company with two main products, Lucidchart and Lucidpress.
#Lucid software series#
Sharing some information is better than none and Lucid is an interesting company, so let’s remind ourselves about what it does, and then talk about why it says it raised less in this Series D than its Series C. Was it worth more than $1 billion the last time it raised? We don’t know, and the company isn’t telling. In the same vein of nearly telling us what we want to know, Lucid declined to share a new valuation but noted that the new round pushed its valuation up and that it’s now worth more than $1 billion. Recently, fellow Utah-based Podium also raised a new round and crossed the $100 million ARR threshold. Its growth rate then, if we squint and do half-baked math in our head, looks pretty good. From prior reporting we know that the firm reached $50 million ARR at some point in 2018. Slightly annoyingly, it declined to say when it did so. Lucid told TechCrunch in an interview with its CEO Karl Sun that it has crossed the $100 million annual recurring revenue (ARR) mark. Lucid Software, best known as the parent company of Lucidchart, announced today that it has raised a $52 million Series D.Īll that’s interesting enough, but more fun is that the company’s new revenue milestone. Continuing our coverage of Utah-based startups, this morning we have our second big round of the year from the state.
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