Lucidworks: Another $21 Million in Funding
November 19, 2015
Lucidworks (a eight year old “start up” founded in 2007) has raised an additional $21 million in funding. According to Crunchbase, the total funds injected into the open source centric company is now $53 million.
The news release “Lucidworks Announces $21 Million in Series D Funding” states:
Lucidworks, the chosen search solution for leading brands and organizations around the world, today announced $21 million in new financing. Allegis Capital led the round with participation from existing investors Shasta Ventures and Granite Ventures. Lucidworks will use the funds to accelerate its product-focused mission enabling companies to translate massive amounts of data into actionable business intelligence.
The statement included this observation attributed to Spencer Tail, Allegis Capital:
Lucidworks has proven itself, not only by providing the software and solutions that businesses need to benefit from Lucene/Solr search, but also by expanding its vision with new products like Fusion that give companies the ability to fully harness search technology suiting their particular customers. We fully support Lucidworks, not only for what it has achieved to date — disruptive search solutions that offer real, immediate benefits to businesses — but for the promising future of its product technology.
Lucidworks, formerly Lucid Imagination, competes with Elastic. Companies from IBM to OpenSearchServer offer solutions which compete in the same market sector. Elastic’s funding is in the $104 million range.
The horses are away from the starting gate. And the winner will be a steed with the best jockey? Stay tuned because the track is muddy.
Stephen E Arnold, November 19, 2015
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