Lucid, the South Jordan, Utah-based visual workspace company, closed a $52m round of funding.
The round was led by ICONIQ Capital with participation from Meritech Capital, Spectrum Equity and new investor, Cross Creek.
The company intends to use the funds to further product innovation, including the expansion of the Lucidchart visual reasoning engine that powers intelligent diagrams that are created automatically and incorporate real-time data from external sources, and evaluate M&A opportunities to continue its international expansion, after opening its second international office and APAC headquarters in Melbourne, Australia earlier this year.
Led by Karl Sun, co-founder and CEO, Lucid offers two cloud-based visual workspace applications: Lucidchart and Lucidpress. Lucidchart is a visual workspace that combines diagramming, data visualization and collaboration to accelerate understanding and drive innovation. Lucidpress is a design and brand management platform for creating on-brand content faster. Together, they are utilized in over 180 countries by more than 27 million users, including customers like Google, GE, NBC Universal and Johnson & Johnson and ninety-nine percent of the Fortune 500. Lucid’s partners include industry leaders such as Google, Atlassian, Amazon Web Services, Salesforce and Microsoft. The company also announced that it has passed $100m in annual recurring revenue.