Lucidworks Raises $100 Million From Francisco Partners, TPG Sixth Street Partners, and Top Tier …

With the investment, Francisco Partners and TPG Sixth Street Partners join Top Tier Capital Partners, Shasta Ventures, Granite Ventures, and Allegis …

Silicon Valley firm quietly becoming de facto standard for enterprise and commerce search, delivering personalized experiences for Fortune 1000 customers and employees

SAN FRANCISCO, Aug. 12, 2019 (GLOBE NEWSWIRE) — Lucidworks, a leader in AI-powered search solutions, today announced a $100 million investment from investors including Francisco Partners, a global technology-focused private equity fund, and TPG Sixth Street Partners, a global finance and investment firm. With the investment, Francisco Partners and TPG Sixth Street Partners join Top Tier Capital Partners, Shasta Ventures, Granite Ventures, and Allegis Cyber. No existing investors sold shares as part of this financing and all proceeds will be used to fund Lucidworks’ continued growth and expansion.

“Search is the best way to unlock value from the world’s data,” explains Will Hayes, Lucidworks CEO. “Francisco Partners and TPG Sixth Street Partners understand that getting from question to answer when you’re dealing with thousands of employees, millions of customers, and a mountain of data is still a headache for large corporations. Our team has worked tirelessly to develop AI-powered solutions that augment human intelligence by automating tedious, time-consuming tasks to provide richer insights and real-time recommendations. With the investment, we can continue to advance the enterprise standard for personalization and AI.”

Lucidworks’ flagship product Fusion has doubled revenue year over year for the last three years and is now servicing 400 of the Fortune 1000 with global expansions into APAC and EMEA. Lucidworks was also recognized by Forrester, leading independent analyst and research firm, as a leader in the Forrester Wave™: Cognitive Search, Q2 2019.

“We are excited to be partnering with Will and the rest of the management team for the next phase of Lucidworks’ growth. The feedback from customers and analysts has been excellent and we believe Lucidworks is well-positioned to capitalize on the huge market opportunity ahead of them,” said Jonathan Murphy at Francisco Partners. “Lucidworks’ powerful Fusion product enables its customers to deliver highly relevant and personalized search results to the end-user across a broad range of verticals and we believe we are in the early phases of adoption of next-generation search; our goal is for our customers to be able to leverage Lucidworks’ technology to quickly create tailored applications to search specific data sources within the enterprise.”

“Lucidworks’ impressive management team and market-leading position in the enterprise search space makes it a compelling growth story,” said Bo Stanley, Partner and Co-Head of the Capital Solutions business at TPG Sixth Street Partners. “Their investment in this market over many years has made Fusion the best product in the space, which is evidenced by its high quality and extremely loyal customer base. We are thrilled to partner with them on their journey.”

The world’s largest organizations, including AT&T, Honeywell, Morgan Stanley, Red Hat, Reddit, Staples, Uber, and the U.S. Census Bureau, rely on Fusion. Under the strategic guidance of CEO Will Hayes since 2015, Lucidworks has created a new standard in digital experience, delivering personalized customer journeys and valuable business insights to billions of people around the globe.

About Lucidworks

Lucidworks builds AI-powered search solutions for many of the world’s largest brands. Fusion, Lucidworks’ advanced development platform, provides the enterprise-grade capabilities needed to design, develop, and deploy intelligent search applications at any scale. Companies across all industries, from consumer retail and healthcare to insurance and financial services, rely on Lucidworks every day to power their consumer-facing and enterprise search apps. Lucidworks’ investors include Francisco Partners, TPG Sixth Street Partners, Top Tier Capital Partners, Shasta Ventures, Granite Ventures, Silver Lake Waterman, and Walden International. Learn more at lucidworks.com.

About Francisco Partners

Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has raised over $14 billion in committed capital and invested in more than 275 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit: www.franciscopartners.com.

About TPG Sixth Street Partners

TPG Sixth Street Partners is a global finance and investment business with over $31 billion in assets under management. TPG Sixth Street’s Capital Solutions platform provides customized, non-control private capital for growth-oriented companies. Since inception, TPG Sixth Street has completed more than thirty transactions investing over $3.0 billion in capital within its Capital Solutions strategy. Co-founded in 2009 by Managing Partner Alan Waxman and TPG Sixth Street’s management team, the firm’s long-term oriented, highly flexible capital base allows it to invest across industries, geographies, capital structures and asset classes. TPG Sixth Street Partners is in a strategic partnership with TPG, the global alternative asset firm. For more information, visit www.tssp.com.

Media Contact

For Lucidworks

Joel Richman

Lucidworks@escalatepr.com

617-312-5942

Media Contact

For TPG Sixth Street Partners

Patrick Clifford

pclifford@tssp.com

646-906-4339

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Samunnati raises Rs 387 crore Series D funding

The fundraising was led by global investment manager Nuveen and existing investors — Elevar Equity, responsibility and Accel Partners co-invest, …

City-based Samunnati Financial and Intermediation Services Tuesday said it has raised Rs 387 crore Series D funding for its plan to expand into newer geographies, among other requirements. The fundraising was led by global investment manager Nuveen and existing investors — Elevar Equity, responsibility and Accel Partners co-invest, a company statement said.

Kotak Investment Banking acted as the exclusive financial advisor to Samunnati for the transaction, it said. With the latest raising of funds, the total equity raised by Samunnati was at Rs 587 crore. The funds raised would be utilised for scaling up the current book size and to expand into newer geographies and agriculture value chain.

“We are pleased to welcome Nuveen to our ever-supporting group of investors. This investment will help to continue with our differentiated offerings and enable agricultural value chains to reach a higher equilibrium”, Samunnati’s promoter and CEO Anil Kumar S G said. “We see a strong potential for alignment between impact investment arm of Nuveen and Samunnati’s focus on providing working capital to value chain players”, he said.

Samunnati has a presence in 14 states. Since its inception in 2014, the company has disbursed Rs 1,500 crore and has managed assets over Rs 460 crore as of March 2019, it added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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Samunnati raisies Rs 387 crore Series D funding

The fund raising was led by global investment manager Nuveen and existing investors — Elevar Equity, responsAbility and Accel Partners co-invest, …

City-based Samunnati Financial and Intermediation Services on May 28 said it has raised Rs 387 crore Series D funding for its plan to expand into newer geographies, among other requirements.

The fund raising was led by global investment manager Nuveen and existing investors — Elevar Equity, responsAbility and Accel Partners co-invest, a company statement said.

Kotak Investment Banking acted as the exclusive financial advisor to Samunnati for the transaction, it said.

With the latest raising of funds, total equity raised by Samunnati was at Rs 587 crore. The funds raised would be utilised for scaling up the current book size and to expand into newer geographies and agriculture value chain.

“We are pleased to welcome Nuveen to our ever-supporting group of investors. This investment will help to continue with our differentiated offerings and enable agricultural value chains reach a higher equilibrium”, Samunnati’s promoter and CEO Anil Kumar S G said.

“We see a strong potential for alignment between impact investment arm of Nuveen and Samunnati’s focus on providing working capital to value chain players”, he said.

Samunnati has a presence in 14 states. Since its inception in 2014, the company has disbursed Rs 1,500 crore and has managed assets over Rs 460 crore as of March 2019, it added.

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