SOURCE: Lucid

Lucid

October 29, 2015 10:00 ET

Lucid Adds Will Coleman as CEO as the Company Positions Itself for Continued Growth

Building Innovation Leader Takes the Helm as Company Expands Into Enterprise and Commercial Real Estate

OAKLAND, CA--(Marketwired - Oct 29, 2015) - Lucid, the fastest-growing provider of cloud-based building management solutions, announced today that Will Coleman, founder of Onramp Capital and former partner at Mohr Davidow Ventures, is the company's new chief executive officer. Lucid's cofounder Vladi Shunturov has stepped into the role of president to continue his work expanding Lucid's channel partnerships and driving its technology innovation priorities.

Lucid has doubled in size over the last year and Coleman joins the leadership team to continue the company's expansion into the commercial building market. In 2015, Lucid has added more than 6,000 buildings to its BuildingOS platform, expanding beyond education and municipal customers into Fortune 1000 and commercial real estate. Just over the last few months, Lucid has onboarded LeFrak Properties, Alexandria Real Estate Equities, and NRG, as well as the cities of Los Angeles, San Francisco, Denver and Orlando as customers.

"We turned to Lucid because the BuildingOS platform allowed us to consolidate multiple systems into one," said Jared Rodriguez, Assistant Director, Energy, LeFrak Organization. "Lucid presents the data in a way that is much easier to understand and act on. Our ability now to reconcile usage in real-time, detect problems, and share that information across the portfolio has been eye opening. It gives us a much better ability to evaluate proposed capital improvements by making decisions clear. It is a huge step forward for us at LeFrak and we are looking forward to future expansions of the BuildingOS platform."

Coleman has been involved with Lucid since 2013 as an advisor, independent director, and Chair of the company's board, during which time Lucid launched its industry-leading BuildingOS platform; brought Formation 8, Zetta Venture Partners, GE Ventures, and Autodesk in as investors; and began its rapid expansion into the Enterprise. Coleman, who has worked with a multitude of startups in the buildings and cleantech sector such as Honest Buildings, Hycrete, and Phylagen, has been focused at Onramp on connecting larger enterprises with innovative solutions for commercial buildings. Will has been a leader in the industry, testifying multiple times before Congress on the keys to fostering innovation in the sector.

"Will and I have been collaborating closely for several years," said Shunturov. "During that time, Will was a driving force in expanding Lucid's vision well beyond energy and sustainability and into building analytics as a whole. The building software segment is taking off and we have big plans. I am thrilled to bring Will's expertise in-house to help us continue our rapid expansion into the commercial market and to broaden the capabilities of our BuildingOS platform."

The Building Internet of Things (BIoT) market is booming with new initiatives from GE, Salesforce, and Dell; analyst firm, Memoori, forecasts that BIoT will grow from $46 billion in 2014 to $155 billion in 2020. Lucid's rapid growth is testament to the need for a single platform to connect the disparate devices and systems in buildings across a highly fragmented market.

"The commercial buildings industry represents 15% of GDP in the U.S., and yet it has fallen well behind other industries in using technology to improve operations," said Coleman. "Lucid is leading the charge to centralize critical data and provide actionable insights. Change in the industry starts with information, and that is something Lucid has always been a leader at delivering in a beautiful, easy-to-understand way. We will continue to build on this foundation to provide a single interface to commercial buildings."

"Commercial buildings are emerging as one of the single largest opportunities to apply information technology over the next few years," said Jim Kim, Founder and Managing Partner of Formation 8. "We've seen a number of companies try to enable intelligent buildings, but Lucid is the first to do so in a way that integrates the needs of owners, occupants, tenants, facility management, and C-level executives in a simple, rapidly deployable solution. We are thrilled about Lucid's progress and its expanded team under the new leadership."

About Lucid
Lucid is making building management simple. By connecting people to buildings, our intuitive solutions empower organizations to make smarter decisions that reduce costs, improve occupant comfort, and accelerate team productivity. Lucid is headquartered in Oakland, California. For more information, please visit www.lucidconnects.com.

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