MINNEAPOLIS, May 27, 2021 (Newswire.com) - Lucy, a market-leading AI-powered knowledge management solution built for Fortune 1000 research and insights professionals, today announced a $3 million Series A financing round led by Dallas Venture Capital (DVC). The funding will be primarily targeted toward developing additional capabilities for clients and expanding Lucy's visibility to assist even more organizations to easily access and leverage the extensive knowledge they have created and accumulated through time, money and insights.
In the past, the goal of data democratization has been sabotaged by the struggle of navigating through too many files, systems, and tools to find what's needed. This is why so many large enterprises are now investing in next-generation knowledge solutions capable of linking together answers from internal documents, subscriptions, data visualizations, and other critical tools. According to StrategyrR, the global knowledge management market was estimated at $318.5 billion in 2020 and expected to reach $1.4 trillion by 2027. The U.S. accounts for 35.4% of the global market size.
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