Lucidity, a multi-cloud storage management platform, has raised $21 million in a Series A funding round led by WestBridge Capital, with participation from existing investor Alpha Wave. The investment comes on the heels of a follow-on seed round from BEENEXT in June 2024, bringing Lucidity’s total funding to $31 million.
Founded in 2021, Lucidity has rapidly emerged as a game-changer in cloud storage automation. Its platform dynamically scales block storage based on real-time data demands, reducing enterprise storage costs by up to 70%. The company’s NoOps, application-agnostic layer integrates seamlessly with existing systems, eliminating the need for code modifications. By automating storage management, Lucidity empowers IT and DevOps teams to focus on innovation rather than infrastructure complexities.
“Lucidity delivers the only platform for ITOps and DevOps organizations to automatically manage and optimize their block storage in real-time across all three major cloud providers while significantly reducing costs,” said Nitin Bhadauria, co-founder of Lucidity. “We’re honored by the continued investor confidence and excited to help enterprises streamline their cloud storage like never before.”
The company has experienced remarkable growth, scaling 400% year-over-year by pioneering automation in cloud block storage. Major enterprises, including World Market, Dometic, and Fortune 500 companies—a leading airline and a top credit ratings firm—rely on Lucidity to optimize storage and drive down costs.
With offices in Boston, Bengaluru, and Abu Dhabi, Lucidity serves customers worldwide. The fresh capital will fuel the expansion of its go-to-market team and accelerate platform innovation to address key storage challenges for enterprises globally.
