Yesterday, Lucidity, a Bengaluru primarily based firm that helps companies handle cloud storage extra effectively, raised $21 million in a Sequence A funding spherical led by WestBridge Capital. The funding follows a earlier funding from BEENEXT in June 2024, bringing Lucidity’s complete funding to $31 million.
Lucidity’s platform automates cloud storage administration, serving to companies cut back prices by as much as 70%. It really works throughout main cloud suppliers—AWS, Azure, and Google Cloud—adjusting space for storing robotically primarily based on demand. This implies firms don’t must manually handle their cloud storage, saving time and sources.
“The necessity for cloud storage sources is rising with ongoing advances in AI and a simultaneous want to scale back total cloud spend. Lucidity basically transforms how enterprises handle and orchestrate their cloud storage infrastructure,” mentioned Rishit Desai, accomplice at WestBridge Capital. “Lucidity’s unparalleled platform will increase storage effectivity and considerably reduces prices for purchasers of all sizes.”
Based in 2021, Lucidity has seen speedy development, reporting a 400% year-over-year enhance. Giant firms, together with World Market, Dometic, a worldwide airline, and a significant credit score rankings agency, use Lucidity’s expertise to raised handle their cloud storage and reduce bills.
“Many enterprises battle with correctly managing their cloud storage, because it’s a difficult space to resolve that hasn’t obtained correct consideration till now,” mentioned Lucidity co-founder Nitin Bhadauria. “Lucidity delivers the one platform that robotically manages and optimises block storage in real-time throughout all three main cloud suppliers whereas considerably decreasing prices.”
Clients have praised Lucidity’s affect. Brian Lupson, director of operations & governance at Iron Mountain, shared, “We used to spend numerous hours provisioning our cloud block storage. With Lucidity, we have been capable of not solely unlock that point by automating our storage administration, however have been capable of save important price on our annual block storage spend.”
Equally, Ram Kesavan, sr. director of engineering at World Market, mentioned, “Lucidity removes the opportunity of our servers working out of disk house because it manages disk house enlargement when wanted.”
With the brand new funding, Lucidity plans to develop its staff and additional enhance its platform to assist companies handle storage extra effectively.“The adoption of cloud continues to speed up but cloud storage is usually an afterthought and could be troublesome to right-size,” mentioned Dan O’Brien, chief options officer at Presidio. “Lucidity is a game-changer in cloud storage administration, serving to enterprises optimise storage utilisation, improve efficiency, and considerably cut back prices.
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