LucidLink – a company that is enabling instant access to data and real-time collaboration for the world’s most innovative companies – recently announced that it has raised $75 million in Series C funding, including secondaries, led by Brighton Park Capital an investment firm focused on entrepreneur-led, growth-stage companies within the software, healthcare, and tech-enabled services businesses space.
Major existing investors, including Headline, Baseline Ventures, and Adobe Ventures, also participated. Over the past two years, LucidLink has delivered exceptional growth, including growing its annual recurring revenue (ARR) by nearly 5x and the number of users on its platform by over 4x.
Launched in 2016, LucidLink developed the world’s first storage collaboration platform designed to help remote and hybrid teams of creative professionals tackle a variety of complex use cases by enabling immediate access to huge files and secure real-time collaboration. And LucidLink’s system is built specifically for the modern computing environment, eliminating the need to download or synchronize files by allowing users to stream data directly from the cloud.
LucidLink customers in creative industries and beyond are collaborating on more than one billion files across 40 countries. And customers include Adobe, A&E Networks, Whirlpool, Shopify, Buzzfeed, and Spotify, and Hollywood studios, major broadcasters, brands, digital ad agencies, architectural firms, and gaming companies. The new capital will accelerate LucidLink’s product and engineering development, customer acquisition efforts, and expansion into new verticals and geographies.
KEY QUOTES:
“LucidLink recognized a substantial need for real-time collaboration in the cloud, and their solution has rapidly become indispensable for hybrid and remote creative professionals, underscored by its robust recent growth and diverse customer base of leading innovative companies. The company is well-positioned to build on its momentum, and we are excited to support LucidLink’s strategic initiatives to drive future growth.”
— Mike Gregoire and Sam Kentor, Partners at Brighton Park Capital
“Legacy collaboration and storage solutions are not designed for this new hybrid workplace reality, and LucidLink is becoming the go-to solution for companies looking to future-proof their businesses. Our customers are reaching 5x in productivity gains on previously impossible workflows, and we are excited to see how they continue to unlock new possibilities as we help to accelerate the future of collaborative work.”
“Brighton Park’s deep expertise, broad network, and track record of supporting growth across its portfolio companies make it the perfect partner, and we are grateful to our existing investors for their continued support.”
— Peter Thompson, CEO and Co-Founder of LucidLink
“With this Series C investment, LucidLink will accelerate its most ambitious product updates in the Company’s history to expand our technology leadership position, open up new customer use cases, and create more personalized product experiences that enable creative professionals to work more efficiently and effectively.”
— George Dochev, CTO and Co-Founder of LucidLink
