Visual architecture software startup Lucid Software has aloft $36 actor in a Series B annular from Spectrum Equity.
Founded in 2010, Salt Lake City-based Lucid serves up two amount cloud-based action articles — Lucidchart, a Microsoft Visio-style diagramming app that’s acclimated for wireframing, UI prototyping, and the like; and Lucidpress, a drag-and-drop architecture affairs for creating book and agenda publications. The aggregation says that its articles accept been adopted by added than 8 actor users, with “hundreds of thousands” of advantageous subscribers globally. It counts some big-name customers, including Netflix, Uber, Ford, Box, and Spotify.
The programs chase a accustomed freemium model, with non-paying users adverse restrictions, such as folio banned and low accumulator caps, and appraisement tiers alignment from about $5 all the way up to $125 per ages for full-featured access.
“With our freemium model, we enabled millions of users to acquaintance Lucid’s articles afore hiring our aboriginal sales representative,” explained Karl Sun, cofounder and CEO of Lucid. “Over the aftermost 18 months, we’ve developed our centralized sales and chump success teams to lath the absurd appeal from these grassroots champions, abounding of whom assignment in the world’s best acknowledged companies.”
Prior to this latest round, Lucid had alone aloft about $6 million, including a $5 actor annular aback in 2014 and a $1 actor berry annular three years beforehand that drew in some notable investors, including Google Ventures (GV). This latest banknote bang will be acclimated to accelerate the advance of Lucid’s corresponding articles aural the enterprise.
Lucid’s competitors are plentiful, with big-name brands such as Microsoft and Adobe accepting served companies able-bodied for years, but Lucid claims that the automatic attributes of its tools, accompanying with the actuality that they were congenital absolutely with action aegis and accord in mind, sets its alms apart. Lucid’s apps accommodate anon with Google Apps, Microsoft Office 365, JIRA, Confluence, Box, and Slack.
Spectrum Equity is a notable investor, with a portfolio that includes added business-focused architecture tools, such as Prezi. Lynda.com, SurveyMonkey, and GrubHub are additionally beneath its wing.
As a aftereffect of its latest investment, Spectrum Equity’s managing director, Ben Spero, and carnality president, Ethan Choi, will accompany the Lucid board.
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