LUCID COMMERCE ANNOUNCES $2.5 MILLION IN SERIES A FUNDING OVP Venture Partners leads investment
FOR IMMEDIATE RELEASE
Media contact: Tyson Roberts
(425) 922-6256
Seattle, WA – June 13, 2008 – Lucid Commerce, an industry-leading
provider of on-demand business intelligence, announced today it has
raised $2.5 million in Series A funding in a round led by OVP Venture
Partners. The funding will be used to add capacity, scale the company’s
operations and enable it to meet demand for its services.
“The funding and expertise that OVP brings will accelerate the
enhancement of our existing platform, allowing us to deliver more value
to our clients while penetrating additional channels for our
services,”said Tyson Roberts, co-founder and President of Lucid
Commerce.
“Technology has finally caught up to the old marketing panacea of 1:1
marketing,” said OVP Venture Partners Managing Director Lucinda
Stewart, who will join Lucid’s Board of Directors. “The next key will
be simplicity and results for the marketer. Lucid Commerce is bringing
to market an analytics solution that ties online and offline insights
into actions for the marketer, immediately impacting their bottom line
- a powerful value proposition tied to results. Their solution will do
for data warehousing and analytics what Cost per Click did for online
performance marketing.”
This round of financing was led by OVP Venture Partners and also
included key partners and advisors. One such advisor, Neil
V.Sunderland, is Chairman of Adconion Media Group Limited and Xing AG
(DAX). He is Executive Chairman of Adinvest AG and specializes in
promoting rapidly growing internet/mobile/digital media businesses.
For direct marketers accustomed to the delays and inaccuracies of
manual consolidation and the high costs of in-house data warehousing,
Lucid offers a powerful solution that combines clear insights with
visible results.
“Lucid has brought greater clarity to our business, making the data
meaningful and helping us maximize our success,” said Vicky Sroloff,
Executive Vice President of Marketing for Modern Media.
About Lucid Commerce
Founded in 2005, Lucid Commerce provides on-demand business
intelligence that combines automatic data consolidation, organization,
and analysis for direct marketing companies. Lucid provides the clear
insights and visible results that direct marketers need to make smart,
confident decisions.
www.lucidcommerce.com
About OVP Venture Partners
Now celebrating its 25th year, OVP Venture Partners has been leading
the drive into new, high-growth technology markets in the Pacific
Northwest since 1983. OVP makes early stage investments in
communications, software, digital media, security, semiconductors,
digital biology, cleantech and nanotechnology. The firm’s record of 52
liquidity events – including 22 IPOs – leads the region. OVP has over
$750 million in capital under management and is currently investing its
seventh fund.
OVP has offices in Seattle, WA and Portland, OR.
www.ovp.com.
