Venture • Software

ICONIQ Capital and Spectrum Equity Invest In Lucid Software

On April 16, 2020, growth capital firm ICONIQ Capital and private equity firm Spectrum Equity invested in software company Lucid Software

Investment Context
  • This is ICONIQ Capital’s 13th and Spectrum Equity’s 15th transaction in the Software sector.
  • This is ICONIQ Capital’s 46th and Spectrum Equity’s 75th transaction in the United States.
  • This is ICONIQ Capital’s 2nd and Spectrum Equity’s 4th transaction in Utah.

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Investment Summary

Date April 16, 2020
Target Lucid Software
Sector Software
Investor(s) ICONIQ Capital
Spectrum Equity
Deal Type Venture

Target Company

Lucid Software

South Jordan, Utah, United States
Lucid Software is a developer of visual collaboration suite that enables teams to see and build the future with virtual whiteboarding, intelligent diagramming, and cloud visualization. Lucid Software was founded in 2010 and is based in South Jordan, Utah.
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Investors Overview 2

Investor

ICONIQ Capital


Category Growth Capital Firm
Founded 2011
PE ASSETS 80.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

ICONIQ Capital is a private investment firm that manages capital on behalf of high-net-worth individuals, families, and institutions, with a particular focus on the technology sector. The Firm operates across multiple investment strategies including growth equity, venture capital, real estate, and philanthropic initiatives. ICONIQ Capital was formed in 2011 and is based in San Francisco, California.


Deal Context for Investor #
Overall 49 of 91
Sector: Software 13 of 31
Type: Venture 32 of 72
State: Utah 2 of 2
Country: United States 46 of 80
Year: 2020 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-25 HeadSpin

Sunnyvale, California, United States

HeadSpin is a provider of mobile performance and user experience need through its Mobile Performance Platform (MPP). The HeadSpin Mobile Performance Platform (MPP) consists of more than 22,000 SIM-enabled devices in more than 150 locations. This enables customers to quickly debug, test and optimize for user experience and performance under real-world conditions around the world. HeadSpin was founded in 2015 and is based in Sunnyvale, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-04 FreeWill

New York City, New York, United States

FreeWill is a public benefit corporation situated at the nexus of philanthropy and estate planning. FreeWill features a charitable giving platform that makes it easier for nonprofit fundraising teams to unlock transformational non-cash gifts. FreeWill is based in New York City, New York.

Buy -
Investor

Spectrum Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 8.2B USD
Size Mega
Type Sector Focused
DESCRIPTION

Spectrum Equity Management L.P. is a private equity investor focused on service businesses. Spectrum specifically targets established businesses in the media, communications, IT, information, and business services industries. The Firm looks to commit $25 to $150 million of equity capital per transaction and focuses on opportunities throughout North America and Western Europe. Prospective transaction situations include leveraged buyouts, recapitalizations, acquisition financings, and secondary purchases. Spectrum Equity Investors was formed in 1994 and has offices in Boston, Massachusetts and Menlo Park, California.


Deal Context for Investor #
Overall 85 of 103
Sector: Software 15 of 16
Type: Venture 8 of 9
State: Utah 4 of 4
Country: United States 75 of 90
Year: 2020 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-25 Varicent

Toronto, Ontario, Canada

Varicent is a provider of Smart SPM (sales performance management) cloud-enabled software for mid-market and enterprise companies in any industry. Its augmented intelligence-powered platform enables customers to quickly and easily see and address sales trends, problem areas, and opportunities, by predicting outcomes and prescribing actions to optimize revenue. Varicent pioneered incentive compensation and sales performance software helps customers manage highly complex compensation plans, territories and revenue goals. Varicent was founded in 2003 and is based in Toronto, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-30 OurFamilyWizard

Minneapolis, Minnesota, United States

OurFamilyWizard is a provider of shared parenting applications. The platform allows parents to communicate, share calendars and journals, track expenses, and transmit payments. OurFamilyWizard was founded in 2001 and is based in Minneapolis, Minnesota.

Buy -

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