Home » Technology » Cloud storage and information streaming platform LucidLink raises $20M

Cloud storage and information streaming platform LucidLink raises $20M

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LucidLink, a platform that enables corporations akin to Netflix, Nickelodeon, and Shell to stream information instantly from the cloud, has raised $20 million in a sequence A spherical of funding.

The increase comes as corporations throughout the commercial divide have transitioned right into a semi-permanent state of distant work, which in flip has spurred demand for cloud infrastructure.

Based in 2016, LucidLink positions itself as one thing akin to network-attached storage (NAS) for the cloud period, enabling corporations to stream information — akin to surveillance digital camera footage, or edit movies collaboratively and remotely — from any object retailer, delivering parts of recordsdata on-demand as wanted by the end-user.

LucidLink primarily removes the effort of downloading and synchronizing, and helps corporations leverage “cloud storage economics” for purposes, file methods, and different high-performance workloads — all delivered by way of a SaaS product.

LucidLink had beforehand raised round $20 million, together with a $12 million sequence A final yr, and with one other $20 million within the financial institution, the corporate mentioned that it’s now well-financed to “remedy distant collaboration challenges for world inventive groups.”

“The progress we’ve made in rising the enterprise over the previous yr proves LucidLink’s distinctive strategy in fixing the market want for a cloud-native file service concentrating on hybrid and distant collaboration — particularly when coping with massive recordsdata and enormous units of knowledge,” LucidLink cofounder and CEO Peter Thompson famous in a press launch.

LucidLink’s sequence B spherical was led by Headline, with participation from Baseline Ventures and Vibrant Cap Ventures, and High Tier Capital Companions.

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