Lucidity Closes a $5 Million Strategic Funding Round
by Cameron Fitchett | Jul 26, 2018 | Market Education
We love building product at Lucidity. Launching the first live blockchain advertising product was a dream come true for our team. It’s inspired us to keep going, to keep improving, and most importantly, to keep building something that will change the way advertisers do business.
To that end, we’re very excited to announce that we’ve closed our strategic funding round, with over $5 million in total participation from a group comprising: 3Rodeo, CoinUs, Bluepoint Partners, YouBi Capital, and Pithia, a venture capital firm part of the RChain ecosystem.
With this investment, we will expand our team and continue to spearhead development of our Layer 2 technology – a scalable, sidechain infrastructure to handle the high processing speeds and privacy requirements of programmatic advertising. It also further positions us as a multi- and cross-chain solution capable of supporting Ethereum, RChain and others.
Our ability to process massive volume of transactions, reduce blockchain overhead costs, and ensure privacy for our customers is unique for a blockchain platform in digital advertising.
“We are committed to investments that support a healthy blockchain ecosystem for the long term,” said Simon Shin, Managing Partner, Cypher Group. “The sheer number of advertisers and members of the advertising supply chain that could take advantage of Lucidity’s technology today makes them an ideal partner. We are excited to see what further developments of Lucidity’s Layer 2 technology will produce, and how many more companies and categories around the world it can help.”
“We’re very proud to be the first fully realized blockchain advertising solution live and in-market,” said Lucidity CEO Sam Kim. “But getting the protocol established was just the beginning, and strategic partnerships we announced today will help us to keep innovating, reduce fraud and bring much needed transparency and trust to the industry and deliver real ROI.”
Lucidity is a member of the Interactive Advertising Bureau Tech Lab’s Blockchain Working Group, which recently announced its inaugural blockchain pilot program the first of which are live campaigns verified by Lucidity’s Layer 2 technology. Lucidity has already secured a variety of customers and pilot partners including GameStop, Viamedia, The Richards Group, Giant Spoon, and more. Lucidity was recently awarded Blockchain Startup of 2018 by The Blocks Awards and is nominated for Best Marketing Analytics/Attribution Platform in the Digiday Technology Awards.
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