Thursday, January 21, 2021

OpenDrives Picks Up $20M For Network Attached Storage

Los Angeles-based OpenDrives, a developer of network attached storage (NAS) products for the enterprise, said on Thursday that it has raised $20M in a Series B funding round. The funding was led by IAG Capital Partners. According to the company, the new funding will go to grow the company and accelerate product development. The company has now raised $30M in total. As part of the funding, the company said it also mde a strategic investment in Ctrl IQ; no details on the size of that investment were announced. OpenDrives is developing Network Attached Storage (NAS) which the company says provides high performance computing (HPC), on-prem, and hybrid cloud capabilities for the enterprise, media and entertainment, pharmaceutical, and federal government agency markets. The company's CEO is David Buss.