Lucid Software was ranked the 2nd 2016 fastest growing company in Utah by MountainWest Capital Network (MWCN) at the 22nd annual Utah 100 Awards Program Tuesday. The annual program recognizes the 100 fastest growing Utah companies, the Top Revenue Growth companies, and the "Emerging Elite" companies.
"We are very honored to receive this award and to be included in such an impressive list of companies. It's a testament to the Lucid team and our continuing momentum," said Karl Sun, CEO of Lucid Software.
The 100 fastest growing companies in Utah are selected from thousands of eligible applicants throughout the state and represent a cross-section from all industries.
"It is clear Utah is one of the hottest places in the country to start or run a business," said Paul Skeen, chairman of the MWCN Utah 100 committee. "As a strong indicator, we had a record number of Utah companies vying for the 100 fastest growing companies in Utah along with about a 400 percent increase in the number of Emerging Elite nominations. It is a pleasure to recognize this year's Emerging Elite companies along with the Utah 100 fastest growing companies."
The percentage of revenue increase of each company between 2011 and 2015 determines the Utah 100. Those companies with the largest dollar amount of revenue growth in 2015 make up the Revenue Growth winners. The Emerging Elite are selected from among companies with less than five, but more than two years of operation that show significant promise for future success.
Lucid Software has experienced year-over-year revenue growth of over 100% each year since its founding in 2010 and now has 10 million customers. Lucidchart and Lucidpress are two of the most popular productivity apps on the web, with over 20 million downloads from the G Suite Marketplace.
About Lucid Software
Lucid Software is a leading provider of cloud-based visual productivity applications. Lucidchart, a diagramming application, and Lucidpress, a design solution, are utilized in over 175 countries by 10 million users, including Comcast, NASA, Netflix, Target, and Xerox. Lucid Software has received numerous awards for its business and workplace culture, including 2015 Best Companies to Work For and 2015 Salt Lake County Startup of the Year. For more information about Lucid Software, visit http://www.golucid.co.
About MountainWest Capital Network
MountainWest Capital Network is Utah's first and largest business networking organization devoted to supporting entrepreneurial success, and dedicated to the flow of financial, entrepreneurial and intellectual capital. For more information, visit http://www.mwcn.org, LIKE us on Facebook, and follow us on Twitter and LinkedIn.