The Investment
The US$ 10 million investment comes courtesy of new investor Shasta Ventures and previous investors Granite Ventures and Walden International. Lucid states that they will use the new funding to accelerate Lucene and Solr's grooming for the enterprise, making the two projects an even more promising base for their own products and services.
According to VentureSource, a database of "focused research on the venture capital industry," the size of the investment is more than twice the US$ 4.7 million median deal size for 2009.
Second Year Plans
Along with further enhancing Lucene and Solr, the new investment goes toward the company's continued expansion, which representatives state will involve "mission-critical, differentiated search for organizations across a wide range of sectors that spans e-commerce, Web 2.0, media, telecommunications, government and research, among others."
“Companies want to find data as easily as consumers find stuff on the internet every day,” says Eric Gries, CEO of Lucid Imagination. “Technology-savvy executives recognize they need enterprise-ready technology that can deliver search power that is tailored to fit their business needs and their marketplace. With this investment, Lucid Imagination can continue to satisfy the appetite for reliable, cost-effective differentiated search that quickly finds the right information wherever it is and delivers it to users.”
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