LOS ANGELES, Aug. 15, 2018 /PRNewswire/ -- Lucidity, the digital advertising blockchain protocol to deliver transparency and trust, today announced the close of their strategic funding round, with over $5 million in total participation from a group comprising: 3Rodeo, CoinUs, Cypher Group, YouBi Capital, and Pithia, a venture capital firm part of the RChain ecosystem.
With this investment, Lucidity will expand its team and continue to spearhead development of its Layer 2 technology - a scalable, sidechain infrastructure to handle the high processing speeds and privacy requirements of programmatic advertising. It also further positions Lucidity as a multi- and cross- chain solution capable of supporting Ethereum, RChain and others. Lucidity's ability to process massive volume of transactions, reduce blockchain overhead costs, and ensure privacy for its customers are 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.
Lucidity is a digital advertising blockchain protocol bringing transparency and trust to digital advertising. Lucidity is the market leader using blockchain technology for digital advertisers and publishers to mitigate fraud, transact with trust, and maximize ROI. Lucidity was founded to tap the power of blockchain and cryptography to deliver transparency to the digital advertising supply chain for a cleaner ecosystem in which honest players benefit the most. The company is based in Los Angeles. For more information, please visit http://lucidity.tech and continue the conversation on Telegram.
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