Deseret News
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Laura Seitz, Deseret News
In a year that’s driven companies to innovate new ways to keep workers connected and productive amid pandemic-induced remote working assignments, Utah collaboration software innovator Lucid has found a slew of new business and on Thursday announced $500 million in new investments and a $3 billion valuation for the privately held company.
The secondary market investments of a half-billion dollars are a whopper, but Lucid’s new valuation is a breathtaking vault from the $1 billion “unicorn” status the company announced just over a year ago. That ascension has been driven by an annual revenue growth rate north of 100% for products that are proving to be very well suited in helping companies navigate the unique challenges wrought by COVID-19 and the changing world of work.