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Lucidity Raises $21 Million Series A

To enable enterprises to optimize cloud storage

Lucidity, multi-cloud storage management platform, 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 100s of hours, allowing teams to focus on higher-impact initiatives that drive innovation and efficiency.

“Public cloud promises elasticity, but shrinking cloud block storage remains a complex, manual, and error-prone process at scale-something I experienced firsthand as a software engineer at Swiggy and Microsoft,” said Vatsal Rastogi, co-founder, Lucidity. “To meet performance SLAs and prepare for demand surges, organizations often over-provision cloud storage. However, resizing storage is cumbersome, carries a performance tax, risks downtime, and is rarely done-leading to over 50% storage underutilization, an estimated $21.5 billion in wasted cloud block storage spend by 2028. We founded Lucidity to eliminate these complexities, helping enterprises seamlessly manage cloud storage, meet SLAs, and reduce costs.”

Since its founding in 2021, Lucidity has achieved a 400% Y/Y 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 technology to 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, WestBridge Capital, explained. “Lucidity’s unparalleled platform increases storage efficiency and 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, co-founder, 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 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, operations and governance, 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, engineering, 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, CSO, Presidio. “Lucidity is a game-changer in cloud storage management, helping enterprises optimize storage utilization, enhance performance, and 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.”

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