# Open Drives

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/open-drives

- Industry: Hardware
- Headquarters: Culver City, US
- Website: www.opendrives.com
- Total disclosed funding: $20M
- Latest round: Series B (Jan 21, 2021)
- Investors on record: 1

## About

Open Drives, LLC delivers innovative network-attached storage solutions tailored for media and entertainment, optimizing data management for enhanced collaborative workflows across various industries.Open Drives, LLC, founded in 2011, is based in Culver City, US. The company specializes in advanced data storage solutions and has completed 3 funding deals. On January 21, 2021, Open Drives raised USD 20.00 mn in Series B funding led by IAG Capital Partners, bringing the total amount raised to USD 20.00 mn. Jeff Brue is the founder, known for his ventures in data solutions.Open Drives specializes in providing advanced network-attached storage (NAS) and data management solutions through its flagship product, Atlas. This enterprise-grade platform addresses the demanding data storage needs of the media and entertainment industry, enabling seamless collaboration and efficient workflow management. Atlas facilitates high-performance data handling with features like flexible snapshots for system rollback and file recovery, support for multiple protocols (SMB, NFS, and S3), and unique containerization capabilities for enterprise applications. The primary end users include content creators, broadcasters, sports organizations, and technologists, with a global market presence across North America, Europe, and Asia.Open Drives generates revenue primarily through the sale of its Atlas software and associated data management solutions, structured as subscription-based models tailored for enterprise clients. Transactions involve direct partnerships with businesses needing comprehensive storage and data services, facilitating custom solutions based on client requirements. Clients opt for various pricing plans aligned with their storage needs, ensuring flexibility in deployment. The revenue stream is complemented by ongoing support services and integration partnerships with other industry players, enhancing the value of their offerings.Following its recent funding round on January 21, 2021, Open Drives plans to use the USD 20.00 mn raised to enhance its product offerings and expand into new markets. The strategy includes the development of upcoming products with an emphasis on improving data management capabilities, alongside plans to enter new geographic regions by 2023. This will involve targeting emerging markets in Asia and Europe to broaden the customer base and enhance competitive positioning.

## Funding rounds

- Series B, Jan 21, 2021, $20M — IAG Capital Partners

## Investors

- IAG Capital Partners (https://capitalatlas.ai/funds/iag-capital-partners) — Series B