Lucid has raised $60 million and is planning to dominate market research

Lucid has stated that they raised around $60 million which was primarily led by the North Bridge Growth Equity. This is Lucid’s first outdoor funding since they raised some money back in 2011 that is close to around $2.8 million only.

The Founder and CEO of the company Patrick Comer stated that in the years followed by their first campaign he wanted Lucid to run really lean and use each and every dollar into the growth of the product. Although now the company is not looking for a product market fit, as the company says that they have served over five hundred customers and the revenue has grown almost seventy percent over the previous three years.

Now the goal is to go global. He wants to turn the company into a top player in market research. For now, Lucid is looking forward to establishing a presence in the Middle East, Africa and as well as in Europe. Although they already have offices in London and Delhi!

Lucid was previously known as Federated Sample but it was later renamed in 2015. Products like Fulcrum-an automated sample marketplace were introduced thereafter and offerings were extended further. Patrick Comer stated that he is trying to make Lucid the industry’s programmatic disruptor by providing an automated way to test advertisements and survey consumers.

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