Petsky Prunier Advises Lucid on its $60 Million Series B Minority Investment Led by North Bridge Growth Equity
April 11, 2017 (New York, NY) – Petsky Prunier is pleased to announce it has advised Lucid Holdings, LLC, a software company delivering the power of human answers on a massive scale, on its $60 million Series B minority investment led by North Bridge Growth Equity. The capital will be used to fund continued product development, design, and the expansion of a world-class team, among other strategic initiatives.
Lucid owns the world's largest audience platform for sourcing and understanding "human answers," resulting in real, deterministic data about human behavior at scale. With a pool of more than 80 million unique respondents, Lucid delivers unprecedented access to consumers for data-driven decision making – about everything from marketing to product development – in real-time. The company’s powerful programmatic survey marketplace has enabled brands, agencies, and partners to ask and answer more than 14 billion questions worldwide. Lucid is headquartered in New Orleans with offices in London and New Delhi.
Lucid has experienced exponential growth, increasing revenue at 70% year-over-year for the past three years. More than 500 enterprises in 92 countries actively use a Lucid product, and the company’s customer list continues to increase by more than 50% annually.
Previous investors in Lucid include Sopris Capital, Jackson Square Group, Voodoo Ventures, and Etoile Capital Partners.
North Bridge Growth Equity is a leading growth equity firm that partners with successful technology companies addressing large, dynamic markets, including tech-enabled services, software, healthcare IT, communications, and infrastructure. The firm provides capital and expertise to help companies grow into strategic assets. North Bridge Growth Equity has more than $1 billion of capital under management and has backed industry-defining companies, such as Dyn (acquired by Oracle), IngeniousMed, OutSystems, Proto Labs (IPO on NYSE), RuffaloCody (acquired by financial sponsor), SmartPak (acquired by Henry Schein), and WPEngine.
Petsky Prunier, with a team led by Sanjay Chadda, Christopher French, and Dylan Kearns, served as exclusive financial advisor to Lucid.
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“As the fastest growing technology company in New Orleans, we were very particular when searching for an advisor for our transaction. Petsky Prunier surpassed our expectations. Their knowledge of the marketing data and software sector was clear at our first meeting. They had an impressive team that conducted a great process for us and worked diligently to get the deal done. We would recommend them to any technology company.”
Patrick Comer, CEO & Founder, Lucid