US-based sampling automation provider Lucid has raised $60m in a minority investment round led by private equity firm North Bridge Growth Equity. The funds will be used for further product development and to expand the team.
Formerly known as Federated Sample, Lucid has bases in the US, the UK and India, and comprises global programmatic sample exchange Fulcrum, full-service sample provider Federated Sample, and campaign and audience measurement specialist Proof. Last year, the company launched an independent, third-party-verified quality assurance and measurement program, which allows market researchers to test multiple characteristics of more than 40 major sample panels.
CEO Patrick Comer (pictured) comments: 'Lucid has tripled in size and revenue since the beginning of 2015, and we continue to see phenomenal momentum and growth since we started the company seven years ago. This financing allows us to further invest in our team, build solutions and provide support to our clients at a pace that supersedes our competitors and lead the industry'.
Web site: www.luc.id .