COMPANY PROFILE

LucidWorks

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Lucidworks builds enterprise search solutions for some of the world’s largest brands

San Francisco, United StatesFounded 2007AI

Valuation $250–500M Last recorded · 2019

Revenue $50–100M Latest reported FY

Headcount 100–500 Current team size

Total funding $100–500M Disclosed equity funding

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About LucidWorks

Lucidworks is a technology company that provides advanced search and discovery solutions to some of the world's largest and most successful companies. Their flagship product, the Fusion Platform, uses a unique search methodology that combines neural networks, lexical search, and semantic search to analyze the meaning associated with keywords. This results in more accurate and relevant search results, enhancing the user's search experience.

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Lucidworks operates in the technology and software market, serving a diverse range of clients including top U.S. online retailers, large organizations, and businesses looking to improve their customer, employee, and digital experiences. Their solutions are particularly beneficial for commerce and customer service sectors, where they help to personalize and dynamically curate shopper experiences and connect agents with customers.

The company's business model revolves around the provision of their Fusion Platform and related services. They make money by selling their platform and services to businesses that need to make complex price and product data searchable at scale. Their platform eliminates the need for extra database calls for search queries, and enables sorting, faceting, and filtering.

Lucidworks also integrates AI, LLM, and ML into their platform, providing the necessary controls, security, and grounding for effective results. This allows businesses to use AI for search in highly practical ways.

In 2022, Lucidworks was recognized as a leader in the Gartner Magic Quadrant for Insight Engines, and in 2023, Forrester estimated the total economic impact of Lucidworks to be $13.9M net present value with a payback period of less than 6 months.

Source: Dealroom company data