LucidLink secures $20 million in recent funding round to solve remote collaboration challenges
LucidLink, an SaaS solution connecting creative teams around the world, announced it has raised $20 million in funding from investors in its Series B funding round, enabling the company to invest in a number of growth priorities for LucidLink—including the expansion of sales, marketing, and development teams.
The new capital infusion was led by Headline’s Global Growth strategy in collaboration with existing investors Baseline Ventures and Bright Cap Ventures—and new investor, Top Tier Capital Partners. LucidLink has raised $40 million to date.
The latest funding comes after a year of tremendous success for LucidLink that includes sustained 12% month-over-month growth resulting in over 400% revenue increase, 154% net customer retention and a doubling of its workforce.
“The progress we’ve made in growing the business over the past year proves LucidLink’s unique approach in solving the market need for a cloud-native file service targeting hybrid and remote collaboration—especially when dealing with big files and large sets of data,” said Peter Thompson, co-founder and CEO, LucidLink. “We are ready to hit the accelerator and can think of no better partners with whom to do this than the investors we already have on board.”
The performance of LucidLink to date reflects a strong product market fit and wide technical lead in the cloud native remote collaboration space, according to the vendor.
The global pandemic served as a sudden accelerant to accepting the cloud as the critical connective tissue of organizations. According to Pew Research, today 59% of Americans who say they can perform their jobs remotely are currently working from home all or most of the time. LucidLink enables creative talent to collaborate no matter where they are located, without friction or disruption.
For more information about this news, visit www.lucidlink.com.