All posts tagged: LucidLink

LucidLink lands M for its on-demand file streaming tech

LucidLink lands $75M for its on-demand file streaming tech

LucidLink, a startup offering a platform that enables teams to work on files without having to download or sync them, today announced that it raised $75 million in a Series C round led by Brighton Park Capital with participation from Headline, Adobe Ventures and Baseline Ventures. The tranche brings LucidLink’s total raised to $90 million — a respectable sum for a company founded around seven years ago. How, you might be asking (like this writer), did a storage startup raise nearly $100 million — and for what? Well, 5x growth in annual recurring revenue over the past two years might have something to do with it. As for how it plans to spend the money, LucidLink will “accelerate” its product and engineering development, customer acquisition and vertical expansion efforts, CEO and co-founder Peter Thompson told TechCrunch in an email interview. “LucidLink didn’t need to raise capital, but rather, investors sought us out for investment due to our top-of-class KPIs and metrics for software-as-a-service companies,” he said. “In a sea of flat and down rounds, the …