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1 posts from May 2018

May 03, 2018

Lucidworks expands focus in new funding round

Lucidworks, the commercial organization with the largest pool of Solr committers, announced today a new funding round of $50M US from venture firms Top Tier Capital Partners and Silver Lake Waterman, as well as additional participation from existing investors Shasta Ventures, Granite Ventures, and Allegis Capital.

While a big funding round for a privately held company isn't uncommon here in 'the valley', what really caught my attention is where and how Lucidworks will use the new capital. Will Hayes, Lucidworks' CEO, intends to focus the investment on what he calls "smart data experiences" that go beyond simply artificial intelligence and machine learning. The challenge is to provide useful and relevant results by addressing what he calls "the last mile" problem in current AI:  enabling mere mortals to find useful insights in search without having to understand the black art of data science and big data analysis. The end target is to drive better customer experiences and improved employee productivity.

A number of well-known companies utilize Lucidworks Fusion already, many along with AI and ML tools and technologies. I've long thought that to take advantage of 'big data' like Google,  Amazon, and others do, you needed huge numbers of users and queries to confidently provide meaningful suggestions in search results.  While that helps, Hayes explained that smaller organizations will be able to benefit from the technology in Fusion because of both smaller and more focused data sets, even with a smaller pool of queries. With the combination of these two characteristics, Lucidworks expects to deliver many of the benefits of traditional machine learning and AI-like results to enterprise-sized content. It will be interesting to see what Lucidworks does in the next several releases of Fusion!