Utah software company Lucid is now worth $ 3 billion

A company based in South Jordan has closed its $ 500 million secondary investment.

(Lucid) The logo of Lucid software company based in Utah, South Jordan.

A South Jordan software company reported a $ 3 billion investment after a second investment of $ 500 million from several companies.

Lucid, a visionary software company, announced on Thursday that it has closed its $ 500 million investment. Among the new investors are Alken Capital, Tiger Global and Stade Capital Venture.

“The company has made unprecedented growth over the past year,” said Carl Sun, co-founder and CEO of Lucid. The company Reportedly less than $ 100 million in recurring revenue in the first quarter of 2020, and this year – April – doubled the previous year.

According to one of the company’s marketing videos, Lucid’s software products are designed to “get you all on one page and promote ideas.” The company’s software allows you to create graphic, phrases and other visual aids that your employees can find online wherever they work.

The company, known as Lucidesk, has been attracting more than 1 million users since October. Another major product of the company is Lucidchart.