US-Bulgarian startup LucidLink raises $75M in Series C funding
US-Bulgarian cloud storage startup LucidLink has raised $75 million in Series C funding, the biggest round for Bulgaria in 2023 and one of the largest in CEE, the Recursive reports. The lead investor this round is Brighton Park Capital, with major existing investors like Headline, Baseline Ventures, and Adobe Ventures participating.
- Founded in 2016 by data storage industry veterans George Dochev and Peter Thompson, LucidLink provides a space for teams to collaborate securely on massive media projects with fast and easy-to-use file access. With headquarters in San Francisco for its sales, marketing, and founders teams, LucidLink also has an R&D team based in Bulgaria, which is more than 60 people.
- The SaaS solution solves the problem of accessing, sharing, and collaborating on files of any type or size from anywhere in real-time. LucidLink is used by teams working in Adobe, Netflix, VICE, A+E Networks, WebMD, and many others.
- The company will use the funding to accelerate the development and updates of its products.
“With this Series C investment, LucidLink will accelerate its most ambitious product updates in the company’s history to expand our technology leadership position, open up new customer use cases, and create more personalized product experiences that enable creative professionals to work more efficiently and effectively,”George Dochev, CTO and co-founder of LucidLink, comments.
Who are the investors?
- Brighton Park Capital is the lead investor this round. It is a US-based investment firm focused on entrepreneur-led, growth-stage software, healthcare, and tech-enabled services companies. The firm invests in companies that provide highly innovative solutions in partnership with great management teams.
- Headline participated as one of the existing investors. It is a US-based VC firm actively on the ground in 7 cities around the world. The firm invest across geographies, leading rounds at every stage.
- Baseline Ventures is also an existing investor. It is a US-based VC firm investing in early-stage technology companies across multiple sectors. It backs the founders who want to build and grow their businesses into change-affecting enterprises.
- Adobe Ventures is a VC-arm of the Adobe company, investing in early-to-midstage companies that create software at the forefront of creativity, digital experiences, and document productivity.