Founded in 2010 by Karl Sun and Ben Dilts, Utah-based Lucid Software develops visual collaboration platforms that replace traditional documents with dynamic, cloud-native canvases. Its flagship products are Lucidchart, an intelligent diagramming solution, and Lucidspark, a virtual whiteboard launched in October 2020 that was built in just four months. The suite is used by 99% of Fortune 500 companies and counts more than 40 million total users; Lucidspark alone has attracted over one million users and customers such as Sonos, Jaguar Land Rover and HubSpot since launch. The company believes hybrid work will dominate post-pandemic collaboration and positions its software as the virtual infrastructure for that model. Recent secondary financing pushed Lucid’s valuation to $3 billion, tripling its prior mark. Management expects the fresh investor base to support accelerated product development, global expansion and potential preparation for a public listing.

Total raised

$665M

Funding rounds

5

Latest round

Equity

Latest activity

Jun 2021