Lucidity Secures $21 Million in Series A Funding Led by WestBridge

Yesterday, Lucidity, a Bengaluru based company that helps businesses manage cloud storage more efficiently, raised $21 million in a Series A funding round led by WestBridge Capital. The funding follows a previous investment from BEENEXT in June 2024, bringing Lucidity’s total funding to $31 million.

Lucidity’s platform automates cloud storage management, helping businesses reduce costs by up to 70%. It works across major cloud providers—AWS, Azure, and Google Cloud—adjusting storage space automatically based on demand. This means companies don’t have to manually manage their cloud storage, saving time and resources.

“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,” said Rishit Desai, partner at WestBridge Capital. “Lucidity’s unparalleled platform increases storage efficiency and significantly reduces costs for customers of all sizes.”

Founded in 2021, Lucidity has seen rapid growth, reporting a 400% year-over-year increase. Large companies, including World Market, Dometic, a global airline, and a major credit ratings firm, use Lucidity’s technology to better manage their cloud storage and cut expenses.

“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,” said Lucidity co-founder Nitin Bhadauria. “Lucidity delivers the only platform that automatically manages and optimises block storage in real-time across all three major cloud providers while significantly reducing costs.”

Customers have praised Lucidity’s impact. Brian Lupson, director of operations & governance at Iron Mountain, shared, “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.”

Similarly, Ram Kesavan, sr. director of engineering at World Market, said, “Lucidity removes the possibility of our servers running out of disk space as it manages disk space expansion when needed.”

With the new funding, Lucidity plans to grow its team and further improve its platform to help businesses manage storage more efficiently.“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 optimise storage utilisation, enhance performance, and significantly reduce costs.