Lucidworks Adds $50 Million in Growth Funding
Lucidworks, a provider of AI-powered search and discovery, has announced $50 million in growth financing, which will be used to expand the company’s enterprise offerings, “and to help the world’s leading companies bring smart data experiences to the market.”
Top Tier Capital Partners led the investment round with participation from Silver Lake Waterman, Silver Lake’s late stage growth capital fund. The round also includes existing investors Shasta Ventures, Granite Ventures, and Allegis Capital.
To help companies deploy smart data experiences, Lucidworks offers a suite of solutions built on the industry’s most powerful data platform, offering insights delivered via search, the most intuitive of end-user interactions. Companies use Lucidworks’ Search and Discovery, Customer Analytics, and Digital Commerce solutions to deliver personalized, curated customer experiences.
Lucidworks has the potential to impact virtually every industry by making complex data science available to end users directly, said Lucidworks CEO, Will Hayes, noting that the company is building on the idea of "smart data experiences," which is the direction that guides the company beyond artificial intelligence, machine learning, neural networks, and other buzzwords. Lucidworks, he said, wants to solve the “last mile” problem in AI which is how to ensure that the users who can most benefit from insights can discover them without needing to have advanced degrees in data science.
Lucidworks says this funding round comes after it has more than tripled its ARR over the past 3 years and added top quality talent at the highest levels.
For more information, go to https://lucidworks.com.