OpenDrives Raises $20 Million in Latest Funding Round

OpenDrives, Inc., a global provider of enterprise-grade, hyper-scalable network-attached-storage (NAS) solutions, announced it has raised up to $20 million in Series B funding, enabling the company to continue growing and accelerate product development.

The round was led by IAG Capital Partners bringing the company’s total capital raised to $30 million.  

“Every innovation in our company has been powered by anticipating our customers’ needs, whether it was creating storage capacity to handle the first 6K film, bringing portable studios to live global broadcast or accelerating remote capabilities when Covid-19 forced customers into a work-from-home environment,” said David Buss, chief executive officer of OpenDrives. “Although our core DNA is in providing on-premise storage solutions, we’re backed by dynamic team expertise and investment partners who all share our bold vision for enabling the next generation of compute storage in delivering a more holistic solution to the industry.”

Additionally, OpenDrives’ strategic investment in Ctrl IQ, Inc., set to debut this month, provides the core technology stack to enable scalable, secure and hybrid orchestration of workflows.

OpenDrives will combine performance storage and compute with secure applications for a fully supported stack from the data center to the cloud to the edge. Ctrl IQ was founded by HPC veteran and recent Rocky Linux founder Gregory Kurtzer. 

The capital will further amplify OpenDrives’ 2020 momentum, which included the release of three new product series, a fully customizable NAS hardware platform, supported by a fully re-designed Atlas software release.   

In addition to product scale, and in anticipation for 2021 customer growth, OpenDrives is making strategic hires across engineering, marketing, customer support and sales.

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