Lucidworks Raises $100 Million from Investors

Lucidworks, a provider of AI-powered search solutions, announced a $100 million funding round.

With the investment, Francisco Partners and TPG Sixth Street Partners join Top Tier Capital Partners, Shasta Ventures, Granite Ventures, and Allegis Cyber.

No existing investors sold shares as part of this financing and all proceeds will be used to fund Lucidworks’ continued growth and expansion.

Lucidworks builds search solutions for many of the world's largest brands and is used by companies across all industries, from consumer retail and healthcare to insurance and financial services to power their consumer-facing and enterprise search apps.

Fusion, Lucidworks' advanced development platform, provides enterprise-grade capabilities needed to design, develop, and deploy intelligent search applications at any scale. According to Lucidworks, Fusion has doubled revenue year over year for the last 3 years and is now servicing 400 of the Fortune 1000 with global expansions into APAC and EMEA.

Lucidworks’ investors include Francisco Partners, TPG Sixth Street Partners, Top Tier Capital Partners, Shasta Ventures, Granite Ventures, Silver Lake Waterman, and Walden International.

“Search is the best way to unlock value from the world’s data,” explains Will Hayes, Lucidworks CEO. “Francisco Partners and TPG Sixth Street Partners understand that getting from question to answer when you’re dealing with thousands of employees, millions of customers, and a mountain of data is still a headache for large corporations. Our team has worked tirelessly to develop AI-powered solutions that augment human intelligence by automating tedious, time-consuming tasks to provide richer insights and real-time recommendations. With the investment, we can continue to advance the enterprise standard for personalization and AI.” 

More information is available at https://lucidworks.com.



Newsletters

Subscribe to Big Data Quarterly E-Edition