LucidLink, a pioneer in providing instant data access and real-time collaboration, has raised $75 million in Series C funding, including secondaries. Brighton Park Capital, an investment firm focused on growth-stage companies, led the round, with participation from existing investors such as Headline, Baseline Ventures, and Adobe Ventures.
Despite a challenging environment, LucidLink has achieved exceptional growth over the past two years, nearly quintupling its annual recurring revenue (ARR) and growing its user base by over four times.
Founded in 2016, LucidLink introduced the world’s first storage collaboration platform designed to facilitate remote and hybrid teams of creative professionals. The platform enables immediate access to large files and secure real-time collaboration, eliminating the need to download or synchronize files by allowing users to stream data directly from the cloud.
“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,” said Mike Gregoire and Sam Kentor, Partners at Brighton Park Capital.
According to a recent Filestage report, three-quarters of creative collaboration now happens remotely, with the average creative review process taking eight days and over three versions to receive sign-off. International Data Corporation predicts a significant increase in investment in cloud infrastructure and services to $1.2 trillion by 2027 as businesses prepare for a hybrid workforce.
LucidLink addresses the challenges of real-time collaboration across hybrid and remote teams, particularly in creative industries dealing with complex files and applications. The new funding will support LucidLink’s product and engineering development, customer acquisition efforts, and expansion into new verticals and geographies.
“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,” said George Dochev, CTO and Co-Founder of LucidLink.
LucidLink has garnered recognition for its industry-leading technology, receiving awards such as the National Association of Broadcasters Product of the Year in 2022 and 2023, and Inc. Magazine’s Best US Workplaces in 2023. The capital infusion will further enhance LucidLink’s position in the market and support its growth initiatives.