LucidWorks Secures $10 Million in Series B Funding
Commercial vendor for disruptive Apache Lucene/Solr search technology delivers tangible, immediate benefits to businesses across many industries
San Mateo, Calif. – March 11, 2010 – LucidWorks, the commercial company for Apache Lucene and Apache Solr search technology, today announced it has raised $10 million in venture capital funding, completing its Series B round with a new investment from Shasta Ventures and participation from existing investors Granite Ventures and Walden International. Funding will be used to accelerate enterprise readiness and adoption of Lucene/Solr search technology, allowing organizations to more easily tap the disruptive power of Lucene/Solr for delivering timely, accurate access to the critical information their customers and employees demand.
Twitter summary: LucidWorks completes $10 million Series B funding http://bit.ly/7DdHKk
By providing the software and solutions that businesses need to benefit from Lucene/Solr search, LucidWorks continues to expand in its second year, enabling mission-critical, differentiated search for organizations across a wide range of sectors that spans e-commerce, Web 2.0, media, telecommunications, government and research, among others.
“Apache Lucene/Solr open source search is quite promising,” says Ravi Narayan, Director of Software Development at eBay. “We are working with Lucid Works to use it for some of our search function needs.”
The completion of the round and the addition of a new investor demonstrate the market potential for Lucene/Solr search technology and the confidence of the investment community in LucidWork’s track record, ability to execute and powerful portfolio of offerings. The size of the round is particularly impressive, as it is more than twice the $4.7 million median deal size for 2009, reported by VentureSource.
“Companies want to find data as easily as consumers find stuff on the internet every day,” says Eric Gries, CEO of LucidWorks. “Technology-savvy executives recognize they need enterprise-ready technology that can deliver search power that is tailored to fit their business needs and their marketplace. With this investment, LucidWorks can continue to satisfy the appetite for reliable, cost-effective differentiated search that quickly finds the right information wherever it is and delivers it to users.”
“Lucene/Solr search has taken the world by storm, and LucidWorks is unique in its ability to provide a commercial-grade portfolio that enables companies to fully harness the technology to suit their needs, taking full advantage of its flexibility and speed,” says Ravi Mohan, Managing Director at Shasta Ventures. “We believe in LucidWorks, not only for the future of the technology but also for what the company has delivered to date: disruptive search solutions that offer real, immediate benefits to businesses.”
LucidWorks is the commercial company dedicated to Apache Lucene technology. The company provides value-added software, documentation, commercial-grade support, training, high-level consulting, and free certified distributions, for Lucene and Solr. LucidWork’s goal is to serve as a central resource for the entire Lucene community and marketplace, to make enterprise search application developers more productive. Customers include AT&T, Sears, Ford, Verizon, Elsevier, Zappos, The Motley Fool, Macy’s, Cisco and many other household names. LucidWorks is a privately held venture-funded company. The investors include Granite Ventures, Walden International, In-Q-Tel and Shasta Ventures.