Lucidity, a multi-cloud storage management platform, has secured $21 million in funding from WestBridge Capital, with additional support from existing investor Alpha Wave. The company plans to use the funds to expand its team and introduce more innovative solutions.

Lucidity’s platform automates block storage expansion and reduction based on real-time data demands, helping IT and DevOps teams save significant time and resources. By optimizing storage usage, it allows organizations to cut costs and focus on other priorities.

Founded in 2021, Lucidity claims to help global enterprises, including Fortune 500 companies, achieve up to 70% savings on storage costs. Its platform is compatible with major cloud providers like Amazon Web Services (AWS), Microsoft Azure, and Google Cloud.

Co-founder Nitin Bhadauria highlighted that Lucidity is the only platform that enables ITOps and DevOps teams to automatically manage and optimize block storage in real time across all three major cloud providers while reducing costs.

The increasing demand for cloud storage, driven by AI advancements, has made Lucidity’s services even more relevant. Rishit Desai, Partner at WestBridge Capital, noted that the company is revolutionizing how enterprises manage their cloud storage infrastructure while addressing the growing need to optimize cloud spending.

Lucidity was founded by Bhadauria, formerly with private markets data provider Tracxn, and Vatsal Rastogi, who previously worked at food delivery giant Swiggy. The company operates from offices in Boston, Bengaluru, and Abu Dhabi, serving clients worldwide.

This latest funding comes just eight months after Lucidity raised a seed round from Beenext in June 2024. With this new investment, the company’s total funding now stands at $31 million.