Lucidity raises $21M in Series A led by WestBridge Capital
Lucidity will use the fresh capital to scale its go-to-market team and enhance the platform to solve critical storage management challenges for global enterprises.
Lucidity, a multi-cloud storage management platform, raised $21 million in a Series A funding round led by WestBridge Capital, with participation from existing backer Alpha Wave.
The startup will use the fresh capital to scale its go-to-market team and enhance the platform to solve critical storage management challenges for global enterprises, it said on Wednesday.
Founded in 2021 by Vatsal Rastogi and Nitin Bhadauria, Lucidity offers a cloud storage platform that automatically adjusts storage size based on real-time data needs, helping enterprises cut costs by up to 70%.
“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,” said Rishit Desai, Partner at WestBridge Capital, in a statement.
“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,” he added.
The company’s NoOps, autonomous, application-agnostic layer integrates with existing applications without any code changes, helping save IT and DevOps teams hours of work and letting them focus on higher-impact projects. NoOps refers to "No Operations"—a fully automated IT operation requiring little to no manual intervention.
“Lucidity delivers the only platform for ITOps and DevOps organisations to automatically manage and optimise their block storage in real-time across all three major cloud providers while significantly reducing costs. As a result, we’re honoured 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,” said Nitin Bhadauria, Co-founder at Lucidity.
The startup has achieved 400% year-over-year growth, with enterprises like World Market and Dometic, besides Fortune 500 companies—including a major airline and a credit ratings firm—using Lucidity’s platform to improve cloud storage utilisation and cut cloud costs.
It currently has offices in Boston, Bengaluru, and Abu Dhabi.
Edited by Suman Singh