Lucidity Hits USD 31 Mn in Total Funding with USD 21 Mn Series A from WestBridge, Alpha Wave With the fresh funds, Lucidity plans to expand the go-to-market team and continue innovating the platform to solve key storage management problems for enterprises around the world.
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Lucidity, a multi-cloud storage management platform, has secured USD 21 million in a Series A funding round led by WestBridge Capital, with continued support from existing investor Alpha Wave.
The latest investment follows a seed round follow-on funding from BEENEXT in June 2024, bringing Lucidity's total funding to USD 31 million since its inception in 2021.
With enterprises increasingly relying on cloud infrastructure, storage optimisation has become a critical challenge. Lucidity's platform offers a proactive, automated solution for managing storage across AWS, Azure, and Google Cloud, helping IT and DevOps teams reduce costs by up to 70% while preventing downtime and improving efficiency.
The company, which has experienced a remarkable 400% year-over-year growth, plans to use the fresh capital to expand its go-to-market strategy and continue enhancing its platform's capabilities.
"Many enterprises struggle with properly managing their cloud storage, as it's a complex challenge that has largely been overlooked," said Nitin Bhadauria, Co-founder at Lucidity. "Our platform delivers a real-time, autonomous solution for IT and DevOps teams to optimize block storage across multiple cloud providers seamlessly. The continued support from our investors reflects the growing demand for innovative cloud storage solutions, and we're excited to help enterprises simplify their cloud infrastructure management."
Lucidity's technology stands out for its NoOps, application-agnostic approach, allowing enterprises to optimise storage without modifying existing applications. By automating block storage expansion and contraction based on real-time data demands, the platform enables businesses to reclaim valuable IT resources, redirecting efforts toward strategic initiatives. Fortune 500 companies, including a global airline and a leading credit ratings firm, as well as enterprises like World Market and Dometic, have leveraged Lucidity's technology to optimise cloud storage utilisation and cut costs significantly.
"Lucidity fundamentally transforms how enterprises manage and orchestrate their cloud storage infrastructure," said Rishit Desai, Partner at WestBridge Capital. "Their technology increases efficiency and reduces costs, making cloud storage management seamless for enterprises of all sizes. We are thrilled to back Nitin, Vatsal, and the Lucidity team in this next phase of growth."
With offices in Boston, Bengaluru, and Abu Dhabi, Lucidity is poised to expand its global footprint, helping enterprises worldwide navigate the complexities of multi-cloud storage with efficiency and innovation.
