LucidLink Raises $75 Million in Funding to Advance On-Demand File Streaming Technology

LucidLink, a pioneering startup that has revolutionized the way teams collaborate on files, has announced a significant milestone: it has raised $75 million in a Series C round led by Brighton Park Capital. This investment brings LucidLink’s total raised to an impressive $90 million, cementing its position as a leader in the storage and collaboration space.

A Resilient Start-Up with Exceptional Performance

Founded around seven years ago, LucidLink has achieved remarkable growth, with 5x increase in annual recurring revenue over the past two years. This outstanding performance has caught the attention of investors, who are eager to support the company’s continued expansion and innovation.

A Conversation with LucidLink’s CEO: Peter Thompson

In an exclusive interview with TechCrunch, LucidLink’s CEO and co-founder, Peter Thompson, shared insights into the company’s vision, growth strategy, and future plans. "LucidLink didn’t need to raise capital," Thompson explained, "but investors sought us out for investment due to our top-of-class KPIs and metrics for software-as-a-service companies."

The Company’s Founding Story

Thompson co-founded LucidLink in 2016 with George Dochev, whom he met while working at DataCore Software. During their time at DataCore, Dochev encountered challenges accessing files distributed across various physical locations. He developed a solution to address these issues, and together with Thompson, they decided to commercialize the technology.

LucidLink’s Innovative Solution

LucidLink enables teams to work on files without having to download or sync them. The platform allows users to stream data directly from the cloud, providing instant access to huge files and secure real-time collaboration. A single source of truth is kept in the cloud, while frequently accessed data is cached locally.

Key Features and Benefits

Stream Data on Demand: LucidLink streams file segments on demand as needed by an app, such as Adobe Premiere or Photoshop.
Single Source of Truth: A single source of truth is kept in the cloud, ensuring data consistency across teams.
Efficient Space Utilization: Snapshots are taken periodically, allowing users to restore previous versions of individual files or revert the entire filespace to an earlier point without requiring a complete copy of all the data.

Growing Demand for LucidLink’s Solution

The new hybrid workplace requires solutions designed for today’s reality. Every other solution on the market focuses on moving data around faster or preemptively through syncing, replication, and creating multiple copies. However, LucidLink solves these problems elegantly, making it an attractive choice for teams in creative industries.

Notable Customers

LucidLink’s customers include:

The U.S. federal government
Big-name brands like Adobe, A&E Networks, Whirlpool, and 20th Century Studios
Various media companies, such as The New York Times, National Geographic, and CNN

Investment in Innovation

The $75 million Series C round will fuel LucidLink’s continued innovation and growth. With this investment, the company is poised to expand its offerings, improve user experience, and further establish itself as a leader in the storage and collaboration space.

Conclusion

LucidLink’s remarkable growth, innovative solution, and exceptional performance have made it an attractive choice for investors. As the company continues to innovate and expand, one thing is clear: LucidLink is revolutionizing the way teams collaborate on files, and its future looks brighter than ever.

About LucidLink

LucidLink is a pioneering startup that provides innovative solutions for file collaboration and storage. Founded in 2016 by Peter Thompson and George Dochev, the company has achieved remarkable growth and success, with a strong customer base and exceptional performance metrics. With its cutting-edge technology and commitment to innovation, LucidLink is poised to continue leading the market in the years to come.

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