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

Lucidity, a multi-cloud storage management platform, has raised $21 million in a Series A funding round led by WestBridge Capital, bringing its total funding to $31 million since its founding in 2021. The company aims to expand its go-to-market team and further develop its platform, which provides automated solutions for managing cloud storage across major providers like AWS, Azure, and Google Cloud. Lucidity's technology enables real-time expansion and contraction of storage volumes, potentially reducing cloud storage costs by up to 70% for enterprises. The platform's NoOps design allows integration with existing systems without requiring code changes, thereby freeing IT and DevOps teams to focus on innovation. Lucidity has experienced significant growth, reporting a 400% year-over-year increase, and has attracted notable clients, including Fortune 500 companies. The funding comes at a time of increasing demand for efficient cloud storage management solutions as enterprises navigate complex multi-cloud environments.