Lucid Software, a Salt Lake City, UT-based provider of cloud visual productivity applications, received a $36m funding round.
The round was led by Spectrum Equity, with participation from existing investors Kickstart Seed Fund and Grayhawk Capital. In conjunction with the investment, Ben Spero and Ethan Choi of Spectrum Equity join the Lucid Software board of directors.
The company intends to use the funds to expand its diagramming and design solutions and grow adoption within large enterprises.
Led by Karl Sun, co-founder and CEO, Lucid Software provides Lucidchart, which offers a collaborative platform for building complex diagrams to improve productivity and visual communication, and Lucidpress which enables brand-compliant layout and design for organizations of all sizes.
They are used by over 8 million users and hundreds of thousands of paying subscribers from more than 175 countries, including organizations such as Hubspot, Kohl’s, Pearson, Quantcast, Spotify, Uber, and Woolworths.