Lucid operates a programmatic market research platform, including Fulcrum, its automated sample marketplace, that enables marketers to test ads and survey consumers with speed and scale. Founder and CEO Patrick Comer says the company is used by more than 500 customers and that revenue has grown 70 percent year-over-year for the past three years. The company rebranded from Federated Sample in 2015 as its offerings expanded. Lucid positions itself as a programmatic disruptor that complements platforms like SurveyMonkey and Qualtrics by supplying audiences to take surveys on those platforms. It already has offices in London and Delhi and is headquartered in New Orleans. With new funding Lucid plans to expand its own presence across Europe, the Middle East and Africa to become the number one player in market research. Federated Sample’s flagship product, Fulcrum, is an enterprise sample management platform and white‑label routing solution that automates sample delivery via proprietary APIs connecting to panel companies and data collection software. The company offers an optimization engine and routing tools that let customers use proprietary panels to reduce dependence on third‑party sample providers, improving margins and deliverability. Federated Sample is developing realtime validation from public records to verify respondents without collecting personally identifiable information. It already counts three of the top five market research firms as clients, has 3.5 million respondents available per month, and reported revenue growth of 200% year‑over‑year for this quarter. The startup will use new capital to roll out additional Fulcrum features and ramp up hiring across all divisions.

Total raised

$63M

Funding rounds

2

Latest round

Series B

Latest activity

Apr 2017