Lucidity Secures $21 Million in Series A Funding

Lucidity, a leading multi-cloud storage management platform, has successfully raised $21 million through a Series A funding round, which was primarily led by WestBridge Capital. This round also saw contributions from the existing investor, Alpha Wave. The Series A investment comes on the heels of a follow-on investment from BEENEXT during June 2024, after an earlier pre-seed funding of $500K and a substantial seed round of $5.3 million in June 2022. Overall, Lucidity has accumulated a total of $31 million in funding to date.

Expansion Plans for Lucidity

Lucidity aims to enhance its go-to-market team while continuing to innovate its platform, addressing critical storage management challenges for enterprises globally.

Innovative Storage Solutions

Lucidity’s cloud storage platform offers a unique capability to automatically adjust block storage based on real-time data requirements, achieving savings of up to 70% for large enterprises. Its NoOps, application-agnostic layer integrates effortlessly with existing infrastructures without necessitating any changes to the code. This automated approach to storage management allows IT and DevOps teams to concentrate on driving innovation and improving efficiency.

Endorsements from Industry Leaders

Nitin Bhadauria, co-founder of Lucidity, noted that Lucidity provides the sole platform that enables ITOps and DevOps teams to automatically manage and optimize block storage in real-time across the three primary cloud providers, all while significantly lowering costs. He expressed gratitude for the continued interest in their services and the chance to collaborate with some of the largest enterprises globally, helping them to manage their cloud storage seamlessly for the very first time.

Remarkable Growth and Customer Base

Since its establishment in 2021, Lucidity has demonstrated a remarkable 400% year-over-year growth, leading the way in automation within the realm of cloud block storage. Renowned enterprises, such as World Market and Dometic, alongside Fortune 500 companies—including a significant airline and a major credit ratings agency—utilize Lucidity to enhance their storage solutions and reduce cloud expenditures.

Global Presence

Lucidity operates from offices located in Boston, Bengaluru, and Abu Dhabi, serving a wide array of customers worldwide.