SaaS-based real-time storage collaboration platform LucidLink has raised $75 million in Series C funding. The investment was led by Brighton Park Capital, which is an investment firm focused on entrepreneur-led growth-stage companies. The existing investors also participated in the round, which included Headline, Baseline Ventures, and Adobe Ventures.
LucidLink provides real-time collaboration in the cloud, which can be used by remote and hybrid teams of creative professionals. With LucidLink’s help, immediate access to huge files and secure real-time collaboration can be achieved. You don’t need to download any data or files, and users can stream data directly from the cloud.
The company has shown exceptional growth over the past two years, with annual recurring revenue (ARR) growing nearly by 5x and the number of users by 4x. Many big organizations like Warner Bros., Discovery, Spotify, Paramount, and Adobe are also using LucidLink’s services, which shows its great potential. The new investment will be used by the company for new product developments, to expand its technology leadership position, to open up new customer use cases, and to elevate the product experience.
The company’s co-founders are Peter Thompson (CEO) and George Dochev (CTO), and it is headquartered in San Francisco, California, United States.