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LucidLink, a platform that allows companies such as Netflix, Nickelodeon and Shell to stream data directly from the cloud, has raised $20 million in a series A round of funding.
The raise comes as companies across the industrial divide have transitioned into a semi-permanent state of remote work, which in turn has spurred demand for cloud infrastructure.
Founded in 2016, LucidLink positions itself as something akin to network-attached storage (NAS) for the cloud era, enabling companies to stream data — such as surveillance camera footage, or edit videos collaboratively and remotely — from any object store, delivering portions of files on-demand as needed by the end-user.
LucidLink essentially removes the hassle of downloading and synchronizing and helps companies leverage “cloud storage economics” for applications, file systems and other high-performance workloads — all delivered via a software-as-a-service (SaaS) product.
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LucidLink had previously raised around $20 million, including a $12 million series A last year and with another $20 million in the bank, the company said that it’s now well-financed to “solve remote collaboration challenges for global creative teams.”
“The progress we’ve made in growing the business over the past year proves LucidLink’s unique approach in solving the market need for a cloud-native file service targeting hybrid and remote collaboration — especially when dealing with big files and large sets of data,” Peter Thompson, LucidLink cofounder and CEO, noted in a press release.
LucidLink’s series B round was led by Headline, with participation from Baseline Ventures and Bright Cap Ventures and Top Tier Capital Partners.
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