Lucidworks lands $370M valuation for AI-powered search engines

Lucidworks has raised a $100 million Series F at a $370 million valuation from Francisco PartnersTPG Sixth Street Partners and Top Tier Capital Partners. The San Francisco-based company is also backed by investors including Shasta VenturesGranite Venturesand Allegis Cyber, and no existing stakeholders sold any shares as part of this round.

Founded in 2007, Lucidworks developed its chief product, the Fusion Platform, to provide customized AI-powered search engines for enterprises. One prominent use case is in ecommerce, which the company says it addresses by providing search functionality that factors in customer behavior, shopping history, related products, and numerous other personalized and dynamic data points, but the product has a range of applications. Lucidworks says its users include AT&THoneywellMorgan StanleyRedditUber and the US Census Bureau.

Read the article at: PitchBook

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