Google Ventures-backed Lucid Software today announced a new $5 million round to bolster its suite of Web-based diagramming and design apps.
With new capital in hand, Lucid audaciously claims that it will release “the stranglehold of a market that’s been controlled by Microsoft and Adobe for decades.” The firm aims to dominate enterprise productivity tools with its light-weight apps, Lucidpress and Lucidchart.
“Today’s workforce is moving away from enterprise monopolies to embrace a cloud-based BYOA world,” said Lucid CEO Karl Sun. “We’ll use this funding to continue to hone in on the value of our tools and get them in the hands of more people.”
Kickstart Seed Fund led the new round and was joined by Grayhawk Capital.
Since raising $1 million back in 2011, Lucid claims its Web app Lucidchart has grown to host a sizable 2.3 million users. Lucidchart is somewhat comparable to popular mind-mapping app OmniGraffle, although Lucid’s integration with Google apps makes it an attractive tool for businesses.
Headquartered in Utah, Lucid employs 50 people and has raised $6 million to date.
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Google Ventures is the venture capital investment arm of Google Inc. that makes financially driven investments in technology companies. Google Ventures seeks to invest in start-up companies in a variety of fields ranging from Internet,... read more »
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