The Bulgaria-based venture capital fund BrightCap Ventures announced a $900,000 investment in LucidLink, which offers cloud solutions for companies that run large amounts of data. The funding is intended to support company’s growth and market share expansion. Thе investment is part of a second-round financing for a total of $6 M. Investors include big players such as BaseLine and Bain Capital, as well as two boutique funds – S28 Capital and Fathom. The company invited BrightCap Ventures to participate in the funding round, expecting the fund will help with entering the markets in Western Europe, the UK, and Israel.
The first investment round in 2016 was led by BaseLine Ventures. The fund is managed by Steve Anderson, who is part of Forbes magazine’s list of the most successful venture investors in the US. BaseLine Ventures, along with several business angels, invested a total of $1.6 M in the company.
LucidLink was founded in January 2016 by Georgi Dochev and Peter Thompson and is based in San Francisco, USA. The company has 25 employees, of which 15 in the development team positioned entirely in Bulgaria. The company provides services in the field of cloud technologies and file storage. LucidLink’s technology solves a fundamental problem by allowing large volumes of constantly updating data to be transferred without storing them on a local device. This provides quick access to large cloud data clusters, so clients can upload information in the cloud that can be used at the same time from another location by another employee. The solution is entirely software-based and is focused on business customers. LucidLink’s clients include media, financial, healthcare, and entertainment companies, as well as a US government agency.
