Lucid Software Inc., better known as Lucidchart, is a force to be reckoned with in the collaboration market. The South Jordan, Utah-based startup’s diagramming service has more than 15 million users and counts 96 percent of the Fortune 500 as customers.

Lucidchart today announced that it has raised $72 million to maintain the growth of this installed base, which is adding 700,000 new users per month. The investment was backed by Meritech Capital, Iconiq Capital and Spectrum Equity.

“Though Lucidchart started as a replacement for traditional, hard-to-use diagramming applications, our ambitions have always been far greater,” Lucidchart co-founder and Chief Executive Officer Karl Sun (pictured) said in a statement. “We are determined to make working visually an integral part of the future of work, ensuring that innovators everywhere can turn the best ideas into reality.”

Lucidchart has built out an expansive feature set in the nine years since launching that caters to a wide range of users. Developers can use the service’s drag-and-drop controls to create technical materials such as an application interface mockup, while a salesperson could employ the same capabilities to visualize lead information. Built-in collaboration tools enable workers to exchange feedback about a diagram, then make the final product available to the rest of the organization. 

Lucidchart offers the service in several editions designed for companies of different sizes. The startup has recently been seeing particularly strong demand in the enterprise, claiming that recurring revenues from this segment nearly doubled over the past year.

Non-English-speaking markets are another growth driver for Lucidchart that it said now account for a third of total revenues. The startup plans to redouble its efforts in this area in the wake of the funding round by opening an Amsterdam office that will serve as its headquarters for Europe, the Middle East and Africa.

Lastly, Lucidchart said that it plans to invest in product development. The startup will introduce the ability to automatically create diagrams using data from third party services, as well as enhance the capabilities of its Lucidpress offering.

Originally released in 2013, Lucidpress is a tool for creating marketing materials that now boasts more than 5 million users. It offers the same kind of drag-and-drop controls as Lucidchart along with templates for common use cases such as creating reports. Given how well the startup’s approach has carried over into this segment, it might potentially consider expanding into other markets as well using its newly raised capital.

Lucidchart has raised $114 million to date. 

Photo: Lucidchart