About LUCID
LUCID is a Healthcare company based in Toronto (Canada) founded in 2017. Music-based digital devices for mental development are provided. It operates on a AI-as-a-Service and HealthTech model. LUCID has raised $2.46 million across 2 funding rounds from investors including Amplify Capital and Ontario Brain Institute. LUCID offers products and services including Resonance Rx. Its focus areas include Digital Health and Digital Therapeutics. Its legal entity is LUCID, Inc. Its competitors include BoundaryCare and Okanagan Audio Lab.
Company details
Digital therapeutics focused on mental health are created by LUCID using AI-personalized music technology. Solutions target older adults facing anxiety, depression, and agitation, with products like Resonance Rx. The healthcare sector is primarily served, with an emphasis on integrating music as a therapeutic tool. Partnerships with research institutions ensure scientific validation, while technology adapts music experiences to individual needs. Remote monitoring for healthcare providers is enabled, supporting therapeutic progress and adherence.
- Headquarters Toronto, Canada
- SectorsHealthcare
- Email••••••••
- Website lucidtherapeutics.com
- Social LinkedIn X Facebook Instagram
- Legal Name Lucid, Inc.
- Annual Revenue$3.34 M (USD)37as on Dec 31, 2013
- Net Profit-$5.48 M (USD)44as on Dec 31, 2013
- EBITDA-$4.85 M (USD)49as on Dec 31, 2013
- Total Equity Funding$2.46M (USD)
in 2 rounds
- Latest Funding Round$2.46M (USD), Seed
Aug 2022
- InvestorsAmplify Capital
& 1 more
Products & Services of LUCID
LUCID offers a comprehensive portfolio of products and services, including Resonance Rx.
A platform for mental health using personalized music.
Funding Insights of LUCID
LUCID has successfully raised a total of $2.46M across 2 strategic funding rounds. The most recent funding activity was a Seed round of $2.46 million completed in August 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $2.46M
- Total Rounds 2
- Last Round Seed — $2.46M
- First Round $50,000
(Jun 2019)
- Investors Count 2
All 2 funding rounds of LUCID with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug 2022 | $2.46M | Seed | – | – | |
| Jun 2019 | $50,000 | Grant | – | – |
2 investors in total: 2 institutional.
Investors in LUCID
LUCID has secured backing from 2 investors, including venture fund investors. Prominent investors backing the company include Amplify Capital and Ontario Brain Institute.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Amplify Capital is focused on impact-driven investments. | 2016 | amplifycapital.ca | Toronto, Canada | |
Brain research and care innovation is driven in Ontario. | braininstitute.ca | Toronto, Canada |
Investor details for LUCID
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of LUCID
7 people are tracked at LUCID (5 in leadership, 2 in team).
| Name | Role | Group |
|---|---|---|
Zachary McMahon | CEO and Co-Founder | Leadership |
Aaron Labbé | Co-Founder & Chief Technology Officer | Leadership |
Zoe Thomson | Co-Founder & Chief Innovation Officer | Leadership |
Frank Russo | Chief Science Officer | Leadership |
Juan Gonzalez | Director of Cloud Operations | Leadership |
Revathi Gopalakrishnan | Product Manager | Team |
Audrey Chan | Machine Learning Engineer | Team |
Complete people profiles for LUCID
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Timeline of LUCID
3 dated milestones of LUCID across 5 years, from founding to its latest funding, stage changes and deals.
- Founded LUCID is founded.
- Funding First funding round of $50K.
- Funding Latest funding round, Seed, of $2.5M.
Competitors of LUCID
LUCID has 2 listed competitors in our database. They include BoundaryCare and Okanagan Audio Lab.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| boundarycare.com | 2019 | St. Paul, Canada | Remote monitoring services via wearable devices are provided for healthcare. | |||
| okaudiolab.com | 1983 | Vernon, Canada | Hearing equipment services are provided to patients in Vernon. |
Detailed competitors of LUCID
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- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of LUCID
The website of LUCID (lucidtherapeutics.com) receives about 4.9K visits a month.
- Monthly visits4.9K
▲ 11.2% vs previous month
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Frequently Asked Questions about LUCID
LUCID was founded in 2017 and raised its 1st funding round 2 years after it was founded.
LUCID is headquartered in Toronto, Canada. It is registered at Toronto, Ontario, Canada.
LUCID is a funded company, having raised a total of $2.46M across 2 funding rounds to date. The company's 1st funding round was a Grant of $50K, raised on Jun 2019.
Annual revenue of LUCID is $3.34M as on Dec 31, 2013.
Digital therapeutics focused on mental health are created by LUCID using AI-personalized music technology. Solutions target older adults facing anxiety, depression, and agitation, with products like Resonance Rx. The healthcare sector is primarily served, with an emphasis on integrating music as a therapeutic tool. Partnerships with research institutions ensure scientific validation, while technology adapts music experiences to individual needs. Remote monitoring for healthcare providers is enabled, supporting therapeutic progress and adherence.
LUCID's top competitors include Okanagan Audio Lab and BoundaryCare.
LUCID offers Resonance Rx.
LUCID has 2 investors. Key investors include Amplify Capital, and Ontario Brain Institute.
LUCID operates through Lucid, Inc..