Global cloud storage management platform Lucidity has secured $21 million in a Series A round led by WestBridge Capital. Existing investor Alpha Wave also participated in the round, according to a release.
The company plans to utilise the fresh funds in expansion of their go-to-market team and continue innovating their platform to solve storage management issues of enterprises around the globe.
Earlier in June 2024, the company raised a seed round from Beenext. Till date, it has raised a total of $31 million.
Companies around the world are currently struggling to manage their cloud storage and manage storage costs. However, these issues have not been addressed properly despite a growing adoption of cloud triggered by advancements in technology and AI.
Lucidity automates block storage expansion and shrinking of storage volumes based on real-time data demands. It resizes block storage across platforms like AWS, Azure, and Google Cloud, preventing downtime, streamlining operations, and claiming to cut cloud storage costs by up to 70%.
“Lucidity fundamentally transforms how enterprises manage and orchestrate their cloud storage infrastructure across AWS, Azure, and Google Cloud,” Rishit Desai, partner at WestBridge Capital, explained. The platform increases storage efficiency and significantly reduces costs for customers of all sizes, he added.
Established in 2021, the multi-cloud storage management solution provider has offices in Boston, Bangalore, and Abu Dhabi, and caters to clients around the globe that includes companies like World Market, Dometic, and global Fortune 500 companies.
