Home >> Company >> News >> Press Releases

Press Releases

LucidEra Secures $15.6 Million in Series B Funding

Investment Round led by Crosslink Capital Reflects Profound Hunger in the Marketplace for
On-Demand Analytics

San Mateo, Calif. – August 14, 2007 – LucidEra, the first provider of focused analytic solutions built on a complete on-demand business intelligence (BI) platform, today announced that it has secured $15.6 million in Series B funding. The investment was led by Crosslink Capital, a leading multi-stage technology venture capital and growth equity firm with over $1 billion in capital under management. Benchmark Capital and Matrix Partners, who led the previous Series A funding round, also participated in this latest investment. The funds will be used to expand sales and marketing activities, and to add further innovations to LucidEra’s analytic solutions.

Access to timely and accurate analytics has been largely out of reach for high-growth mid-sized companies because of the tremendous time, expense, and resources involved in acquiring BI software, not to mention the requirement to have on-site staff with highly specialized skills to manage these systems.

“The first on-demand revolution was for CRM and other transactional applications. These solutions were focused on getting the data ‘in’,” said Ken Rudin, co-founder and CEO of LucidEra. “LucidEra is leading the second major on-demand revolution – the ability to get the data ‘out’, and analyze all the data captured by transactional systems. By combining salesforce.com’s rich transactional platform with our robust analysis capabilities, we now provide a complete on-demand alternative to the traditional enterprise suite vendors’ solutions.”

"For too long only elite companies of the world have been able to take advantage of analytics to provide powerful visibility into the inner workings of their business,” said Ken Rudin, CEO and co-founder, LucidEra. “LucidEra was formed to shake up the stagnant business intelligence industry and traditional approaches to corporate information access and analysis by delivering focused analytic solutions that are simple to set up, simple to use, and simple to buy.”

“The LucidEra team has a great combination of industry knowledge; they understand the software-as-a-service (SaaS) movement and have a proven track record in business intelligence,” said Peter Rip, general partner at Crosslink Capital. “Early on we knew that LucidEra’s disruptive technology would be a perfect fit for Crosslink’s developing SaaS portfolio. Its management team and disruptive technology make it stand out, and we’re excited to be partnering with them.”

LucidEra’s prebuilt analytic solutions focus on addressing specific business visibility challenges, such as the end-to-end lead-to-cash revenue generation cycle. Designed for business people, LucidEra delivers analytics as an on-demand service, thereby dramatically reducing the typical implementation costs and complexity of on-premise approaches. The technology needed to access, combine, clean and present data is integrated behind the scenes in the LucidEra business intelligence platform, allowing employees to focus on their jobs while getting the answers and insights they need to have drive revenue growth, gain predictability in their operations, and improve overall sales performance.

"LucidEra is setting out to do for analytics what salesforce.com has done for the CRM market," said Bob Lisbonne, general partner from Matrix Partners. "We are very excited about the attention and momentum the company has received in a short time as customers begin to achieve business visibility and predictability without the typical pains associated with traditional on-premise business intelligence implementations. There is clearly a hunger for a new and better approach to strategic business analytics, and LucidEra is leading the charge."

About LucidEra
LucidEra delivers focused analytic solutions built on the industry’s first complete on-demand business intelligence platform. The company’s first prebuilt analytic solution provides sales and finance executives with increased business visibility and predictability through end-to-end revenue-cycle analysis – from the time an opportunity is forecast to the time a customer is billed. Founded in 2005, LucidEra was named “company to watch in 2007,” by several editorial and industry influencers. To try LucidEra, visit https://www.lucidera.com, or call 1-866-392-8008.