Startups Lucidity keeps cloud block storage neat, tidy and cost...

Lucidity keeps cloud block storage neat, tidy and cost efficient • ukbusinessupdates.com

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Cloud storage is expensive (especially in this economy), but many companies often over-provision, reducing their full return on investment. Brightness was created to help them manage block storage more efficiently with a range of automated tools. The startup announced today that it has raised $5.3 million in seed funding. The round was led by AlphaWave Investments with participation from Beenext, Blume, Bold Capital and NuVentures.

The company, led by Beenext, raised $500,000 in pre-seed funding last year.

Lucidity says the “NoOps” (or fully automated) orchestration layer can make a company’s cloud block storage 70% cheaper and 10x faster, without any code changes. It provides storage provision and prevents potential downtime during peak web traffic.

Lucidity was founded last year by Vatsal Rastogi, who has worked as a developer at Microsoft Azure and with Indian online food delivery unicorn Swiggy, and Nitin Bhaduria, former head of sales at Tracxn.

Bhaduria says that many companies flocked to the cloud in the wake of the pandemic, but used a “lift and shift” approach, meaning they moved data and apps without modification. While this was the fastest approach, it resulted in overprovisioning and other issues that hurt ROI. It also made it more difficult for companies that previously had data stored on local servers to move to a cloud-first approach.

Lucidity’s customers are typically large enterprises and mid-market companies that are “temporary” or in the process of moving their data from on-premise servers to the cloud.

Lucidity founders Vatsal Rastogi and Nitin Bhaduria

But companies often face new challenges after the move. For example, many over-provision their cloud storage in the hope that there will be no downtime, but still face storage outages two to three times a year, plus a shortage of trained cloud professionals.

“Think of it as moving to a place with a more affordable rent. But once you shift, you realize that the dimensions of your furniture are not specified for your new home,” said Bhaduria. “The school schedule in the neighborhood is different and you have more commute. From building a more affordable rent, you need to put in quite a bit of investment and time to refurbish your home and dynamically plan your daily schedule and commute.”

He added that Lucidity’s software can be on board in 15 minutes and DevOps teams will never have to configure storage again.

Bhaduria gave a few use cases showing how Lucidity works. The first is a Fortune 500 retail and food distribution company that moved to the cloud four years ago, but failed to get the ROI promised by public cloud providers. As a result, cloud storage was overprovisioned, but there was still downtime during web traffic spikes.

Lucidity’s orchestration layer found that 80% of its cloud storage was overprovisioned and used as a buffer. The company then used Lucidity’s Auto-scaler tool to reduce this buffer to 20%, reducing storage costs by nearly 77%. Lucidity’s dynamic services and capacity management features also helped prevent downtime during peak traffic.

The second example is a Series C phase customer data management and data intelligence startup that needed to properly size to provision their storage while avoiding service outages due to full cloud storage, but without using resource-intensive DevOps to manage the storage. continuously manageable size based on changing workloads. Lucidity was able to automate most of these tasks with its dynamic storage provisioning feature, and the Auto-scaler helps the company maintain 75% to 80% utilization.

Lucidity has a “pay-as-you-use” monetization model, which means that customers pay a fixed management fee for the data managed by the software. It is currently in the early revenue phase and its customers include more than 10 companies at various stages of the product implementation lifecycle.

The startup’s new funding will be used for its go-to-market strategy in the United States, where Bhaduria said it is seeing significant traction. Lucidity has offices in New York, Bangalore and Abu Dhabi.

In a statement, Beenext managing partner Dirk van Quaquebeke said: “Lucidity positions itself at the interesting intersection of what I call cloud transient, where large enterprises are moving from on-prem to cloud and there is a lot of leeway to catch in terms of value. Lucidity is building something that will have a very strong GTM fit in a market that is extremely large and global in nature.”

Shreya Christinahttps://ukbusinessupdates.com
Shreya has been with ukbusinessupdates.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider ukbusinessupdates.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

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