Lucidity, World’s Only Multi-Cloud Storage Management Platform, Raises $21 Million Series A to Enable Enterprises to Optimize Cloud Storage

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  • Lucidity has pioneered autonomous cloud block storage autoscaling technology, resulting in highly optimized storage utilization across AWS, Azure, and Google Cloud
  • Fortune 500 companies are achieving up to 70% savings on storage costs with Lucidity’s cutting-edge AutoScaler solution
  • The Series A round is led by WestBridge Capital, following a seed round follow-on by BEENEXT in June 2024. The company has raised $31M in total funding to date.

Lucidity, World’s Only Multi-Cloud Storage Management Platform, Raises $21 Million Series A to Enable Enterprises to Optimize Cloud Storage

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Lucidity, the world’s only multi-cloud storage management platform, today announced a $21 million Series A investment led by WestBridge Capital with participation from existing investor Alpha Wave.

Lucidity’s cloud storage management platform uniquely automates block storage expansion and shrinking of storage volumes based on real-time data demands, helping the world’s largest enterprises cut costs by up to 70%. Its NoOps, autonomous, application-agnostic layer seamlessly integrates with existing applications and environments—without requiring a single line of code to be changed. By streamlining operations, Lucidity enables IT and DevOps organisations to reclaim hundreds of hours, allowing teams to focus on higher-impact initiatives that drive innovation and efficiency.

Since its founding in 2021, Lucidity has achieved an impressive 400% year-over-year growth, driven by industry-first innovations that automate and optimize cloud block storage utilization. Enterprises like World Market, Dometic, and global Fortune 500 companies, including one of the world’s largest airlines and a leading credit ratings firm, have leveraged Lucidity’s unique technology to significantly improve their cloud storage utilization and reduce cloud spending.

“The need for cloud storage resources is growing with ongoing advances in AI and a simultaneous need to reduce overall cloud spend. Lucidity fundamentally transforms how enterprises manage and orchestrate their cloud storage infrastructure across AWS, Azure, and Google Cloud,” Rishit Desai, Partner at WestBridge Capital, explained. “Lucidity’s unparalleled platform increases storage efficiency and significantly reduces costs for customers of all sizes. We are thrilled to back Nitin, Vatsal, and the Lucidity team in this next chapter of growth.”

“Many enterprises struggle with properly managing their cloud storage, as it’s a challenging area to solve that hasn’t received proper attention until now,” Nitin Bhadauria, Cofounder at Lucidity said. “Lucidity delivers the only platform for ITOps and DevOps organisations to automatically manage and optimize their block storage in real-time across all three major cloud providers while significantly reducing costs. As a result, we’re honored by the ongoing interest we’ve received and the opportunity to work with some of the largest enterprises in the world to empower them to seamlessly manage their cloud storage for the first time.”

“Lucidity has been a fantastic partner for Iron Mountain,” said Brian Lupson, Director of Operations & Governance at Iron Mountain. “We used to spend countless hours provisioning our cloud block storage. With Lucidity, we were able to not only free up that time by automating our storage management, but were able to save significant cost on our annual block storage spend. We’re excited about working with Lucidity to further optimize and manage our storage as we continue to grow.”

Ram Kesavan, Sr. Director of Engineering at World Market, adds, “Lucidity removes the possibility of our servers running out of disk space as it manages disk space expansion when needed. The daily operational lift of managing disk space has moved off of our support to Lucidity.”

With the most recent round of funding, 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.

“The adoption of cloud continues to accelerate yet cloud storage is often an afterthought and can be difficult to right size,” said Dan O'Brien, Chief Solutions Officer at Presidio. “Lucidity is a game-changer in cloud storage management, helping enterprises optimize storage utilization, enhance performance, and significantly reduce costs across all three major cloud providers. Lucidity’s solution is innovative, and we are excited to partner with their team to empower our customers to maximize their cloud investments."

About Lucidity

Lucidity transforms cloud storage management from a reactive chore into a proactive, strategic advantage. Compatible with AWS, Azure, and Google Cloud, Lucidity’s platform automates storage optimization, empowering IT and DevOps teams at the world’s largest enterprises to slash costs by up to 70% instantly, prevent downtime, and streamline operations. Founded in 2021, Lucidity has offices in Boston, Bangalore, and Abu Dhabi, with customers all around the globe.

To learn more about Lucidity, please visit https://lucidity.cloud
Request a free cloud storage assessment: https://lucidity.cloud/book-demo/audit