Cloud Storage Startup Lucidity Raises $21M Series A to Advance Multi-Cloud Management Platform

The funding was led by WestBridge Capital and Alpha Wave

by Aishwarya Bhatt · February 13, 2025

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Lucidity, a multi-cloud storage management platform, has secured $21 million in Series A funding led by WestBridge Capital. Existing investor Alpha Wave participated in the round, bringing the company's total funding to $31 million since its founding in 2021.

The latest funding round follows a seed round follow-on investment from BEENEXT in June 2024. It builds on the company's previous fundraising success, including a $500,000 pre-seed round and a $5.3 million seed round in June 2022.

Lucidity's innovative platform automatically optimizes block storage based on real-time data requirements, helping large enterprises reduce costs by up to 70%. The solution's NoOps, application-agnostic approach allows seamless integration with existing systems without requiring code modifications.

"Lucidity delivers the only platform for ITOps and DevOps organizations to automatically manage and optimize their block storage in real-time across all three major cloud providers while significantly reducing costs," said Nitin Bhadauria, co-founder of Lucidity. "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."

The company has demonstrated remarkable growth, expanding 400% year-over-year since its inception. Its client roster includes prominent names such as World Market and Domestic and Fortune 500 companies, including a major airline and a leading credit rating firm.

With offices in Boston, Bengaluru, and Abu Dhabi, Lucidity serves customers globally. The company plans to use the new funding to expand its go-to-market team and continue innovating its platform to address key storage management challenges for enterprises worldwide.

By automating storage management, Lucidity enables IT and DevOps teams to shift their focus from routine maintenance to strategic initiatives focused on innovation and efficiency.