Today we’re welcoming two new investors into the fold as we continue building the next generation of search. Lucidworks received a significant investment from Francisco Partners, a global technology-focused private equity fund, and TPG Sixth Street Partners, a global finance and investment firm. With the investment, Francisco Partners and TPG Sixth Street Partners join Top Tier Capital Partners, Shasta Ventures, Granite Ventures and Allegis Cyber.
Our team has worked tirelessly to develop AI-powered solutions that augment human intelligence by automating tedious, time-consuming tasks to provide richer insights and real-time recommendations. We’ve advanced our technology, grown our team, and expanded our reach immensely in addition to quadrupling our value in the past year.
Our flagship Fusion product doubled revenue year over year for the last three years and is now servicing over 400 of the Fortune 1000, in addition to being recognized as a Leader in Forrester’s 2019 Cognitive Search Wave.
This raise validates our purpose: to create a new standard in digital experience, and deliver personalized customer journeys and valuable business insights to billions of people around the globe.
“We are excited to be partnering with Will and the rest of the management team for the next phase of Lucidworks’ growth. The feedback from customers and analysts has been excellent and we believe Lucidworks is well-positioned to capitalize on the huge market opportunity ahead of them,” said Jonathan Murphy at Francisco Partners.
“Lucidworks’ powerful Fusion product enables its customers to deliver highly relevant and personalized search results to the end-user across a broad range of verticals and we believe we are in the early phases of adoption of next-generation search; our goal is for our customers to be able to leverage Lucidworks’ technology to quickly create tailored applications to search specific data sources within the enterprise.”
“Lucidworks’ impressive management team and market-leading position in the enterprise search space makes it a compelling growth story,” said Bo Stanley, Partner and Co-Head of the Capital Solutions business at TPG Sixth Street Partners. “Their investment in this market over many years has made Fusion the best product in the space, which is evidenced by its high quality and extremely loyal customer base. We are thrilled to partner with them on their journey.”
Search is the best way to unlock value from the world’s data. With Francisco Partners and TPG Sixth Street Partners, and the support of our partners, customers, and employees, we will continue to advance the enterprise standard for personalization and AI.
Read more about the funding news here.