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LucidLink enclouds US$ 12 mln Round A financing from Headline, Baseline Ventures, Cap Ventures, and Adobe, and plans to accelerate growth and overall success.

The IT business horizon is being more and more clouded in the good sense of the word. The global computing environment benefits from emerging hybrid storage technologies. No doubt investors and VC pay more attention to this domain. Today, LucidLink, an innovator in the cloud file industry, announced it raised US$12 million in Series A funding to support accelerated growth and continue to provide a market-leading customer experience. Headline, a new investor, took the lead in the Round with the participation of Baseline Ventures, Cap Ventures, and strategic investment from Adobe.

LucidLink was established on January 8, 2016, by George Dochev and Peter Thomson (HQ in San Francisco Bay Area)) with total funding before Round A of US$7.6 (now US$19.6) from 7 investors. S28 Capital and Baseline Ventures were the leads of Seed Round with the participation of Fathom Capital, BrightCap Ventures, and Bain Capital Ventures. LucidLink provides a cloud-backed distributed file service allowing instant access to an unlimited, shared, and secure file space in the cloud. It believes cloud object storage has the power to transform the way individuals and businesses store and access their files. LucidLink aims to change that with a universal distributed file system that streams data from cloud object storage. It purpose-built to integrate with object storage through high latency environments and address the source of the challenge, not the symptom. Simply stated, LucidLink provides the ability to mount an object store in the cloud and use it as local storage.

You can also read our article about the funds involved in the industry the most in the North America, as well as our article about the funds invested the most in the Early Stage.

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Mighty Networks raises $50M to build a creator economy for the masses

- Mighty Networks, a platform designed to give creators and brands a dedicated place to start and grow communities, has closed on $50m in a Series B funding round led by Owl Ventures. - Ziff Capital Partners and LionTree Partners also participated in the financing, along with existing backers Intel Capital, Marie Forleo, Gretchen Rubin, Dan Rosensweig, Reid Hoffman, BBG Ventures and Lucas Venture Group. - The investment brings Palo Alto-based Mighty Networks’ total raised since its 2017 inception to $67m.

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Neighbor.com Raises $53M in Series B

- Neighbor, the self-storage marketplace, has closed a $53m Series B funding round led by Fifth Wall. - Additional funding support came from returning investor Andreessen Horowitz and additional funding from DoorDash CEO Tony Xu and StockX CEO Scott Cutler, who will join former Uber CEO Ryan Graves and Overstock CEO Jonathan Johnson as investors and advisors to Neighbor. - Founded in 2017, Neighbor is a self-storage marketplace based in the Silicon Slopes of Lehi, Utah.

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Aerin Medical has found $48m investment for business scaling

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Aerin Medical, a Healthcare company, founded in 2011 by Scott J. Wolf, with HQ in Sunnyville, California, specialized in treating nasal problems, received $48m of venture investments from Questa Capital (leading investor), OrbiMed, and KCK Group after they got clearance of their second product RhinAer Stylus, an innovative device for non-surgical treatment of chronic rhinitis, from FDA in March. The total investments in the company reached $130.5m with 6 investors. Aerin Medical provides effective and affordable non-surgical solutions of nonallergic nasal obstruction and chronic rhinitis.

Unicorn Nest Dataset Insights

Questa Capital is the leading investor of the Round, and for them, it is quite an ordinary round in comfortable space under $50m, which ideally fits their strategy to invest in companies that improve lives and provide better quality and more efficient care. OrbiMed, a giant in healthcare-dedicated investments, with approximately $5 billion in assets under management, supported AM for the first time, but the Round also meets their strategy of large amount investments in rounds averaging $40.5m. OM made over 30 investments last year while this Round is their 25th already, so it may happen that the number of their investments in 2020 will exceed 60. KCK Group, a family investment fund that invests in a diverse set of industries, is an existing investor that supported AM in the Series C in 2016, but their participation tells us something else about their strategy. Considering their last year investments in companies like Wunder Mobility (a tech platform that enables companies and cities worldwide to provide clean, convenient, and accessible mobility) and Crusoe Energy Systems (a company that helps the oil industry reduce routine flaring of natural gas), as well as in Earlens Corporation (privately held medical technology company transforming the hearing experience with the only direct sound delivery system), which our venture analytics already call a unicorn, our analytics can say KCKG is aiming for science-rich companies and makes efforts to improve the ecology and promote a healthy and green future.

Unicorn Nest Analyst Team Opinion

There are doubts AM will use all the raised money to accelerate commercial growth, support new clinical studies, and develop new products to better serve otolaryngologists (ear, nose, and throat physicians, or "ENTs") and their patients. In May 2019 Aerin Medical closed on a $50m non-dilutive term loan agreement with CRG LP that also took part in the Earlens Corporation's Round D back in October 2018 together with KCKG, so a part of the new funds may be used to pay out the loan. We can also expect the appearance of players like Alta Partners (focuses on life science space) in the next Rounds. Although recently AP has not invested that often (no more than 5-6 deals per year), they can step ahead and join the next round as they partnered with QC and OM before.

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