Finally (company)
| Company type | Private |
|---|---|
| Industry | Lighting |
| Founded | 2012 |
| Founder | John Goscha |
| Fate | Ceased operations |
| Headquarters | Boston, Massachusetts , United States |
Area served | United States |
Key people | Scott Almquist (CEO and President from 2017), John Goscha (Chairman) |
| Products | Energy-saving induction light bulbs |
Number of employees | 32 (2017) |
Lucidity Lights Inc., operating under the brand name Finally, is an American enterprise headquartered in Boston, established in 2012 by John Goscha. The company specialized in manufacturing energy-saving light bulbs utilizing induction technology, offering alternatives to traditional incandescent and LED lighting solutions. It appears that the business is no longer active.
History
John Goscha, an entrepreneur educated at Babson College and founder of IdeaPaint, initiated Finally with a team that included former engineers from General Electric, Osram Sylvania, and Philips. They innovatively adapted induction lighting—commonly employed in commercial settings—for residential applications. The product debuted in May 2014, supported by $19 million in seed capital from multiple investors, among them professors from Babson College. Initially operating out of Woburn, Massachusetts, the company later moved its headquarters to Boston. Its strategy was aligned with the U.S. federal regulation phasing out incandescent bulbs starting in 2020.
In January 2017, Finally raised an additional $15 million in financing. By mid-2017, cumulative funding had reached $38 million, enabling the company to maintain a team of 32 employees. In August of that year, Scott Almquist was appointed as CEO and President while Goscha transitioned to the role of Chairman. Almquist brought significant leadership expertise from his tenure at Procter & Gamble and various private equity-backed firms. At this stage, Finally's products were distributed through retailers such as Staples, Ace Hardware, Amazon, Wayfair, and Walmart’s online platform.
A subsequent funding round in March 2018 secured $50 million, bringing total investment to $93 million. This capital influx facilitated expansion into nearly 3,000 retail locations by adding prominent chains like The Home Depot and Costco to their sales channels.
Product
Finally’s bulbs emit light comparable to incandescent lamps and outperform many LED options in terms of quality. Drawing upon Nikola Tesla's principles, these bulbs utilize induction technology to generate omnidirectional illumination within a conventional bulb form factor. Instead of a tungsten filament, an induction coil energizes a gas mixture of argon and mercury vapor, producing ultraviolet radiation that excites a phosphor coating inside the glass envelope to emit visible light. These bulbs offer approximately 75% greater energy efficiency and have a lifespan up to 15 times longer than standard incandescents. Although LED technology has since surpassed this efficiency level, Finally remained one of the few producers focusing on induction lighting products.
External links
- - company appears to be no longer in business.