Hollywood Has a Storage Problem. This LA Startup Just Raised $20M to Solve It.

Breanna De Vera

Breanna de Vera is dot.LA's editorial intern. She is currently a senior at the University of Southern California, studying journalism and English literature. She previously reported for the campus publications The Daily Trojan and Annenberg Media.

Hollywood Has a Storage Problem. This LA Startup Just Raised $20M to Solve It.

As the entertainment industry comes to rely on high-powered cameras, rapid rendering and new workflows that require sharing across vast networks, professionals are increasingly getting bogged down dealing with IT issues.

OpenDrives, a provider of network-attached storage solutions, hopes to help solve that problem. It announced it has closed a $20 million Series B round, led by IAG Capital Partners, on Thursday.


The Culver City-based startup was founded in 2011 by Hollywood professionals who were searching for ways to store film that was increasing in both quality and size. With the growing popularity of using 4K — then eventually 8K — cameras and computer-generated images, films were at resolutions that made storage size enormous and difficult to access. Editors were wasting a bulk of editing time finding, compressing, downloading and reopening film.

Executives say they'll use the funds to expand their marketing, develop partnerships and hire talent, particularly engineers to further develop their software. This raise brings OpenDrives's total funding to $30 million, and comes very soon after the launch of both new hardware and software, called Atlas 2.1.

OpenDrives was founded by Jeff Brue, Kyle Jackson and Chad Knowles, to provide physical drives equipped with software that avoids the time-consuming processes of file compression and decompression.

A rendering of OpenDrives' system.

OpenDrives Chief Executive Officer David Buss, a former U.S. Navy vice admiral, found his way to the company from the defense industry. He had previously been president of Cubic Global Defense, which used OpenDrives's products to develop training systems for U.S. military and security forces.

"Think about a pilot in the cockpit trying to train with a fellow pilot in a virtual simulator 3000 miles away," said Buss. "If there's any latency whatsoever in the exchange of their information, their visuals, interactions that are having communications, whatever the case may be, the training breaks down and you completely lose credibility."

Buss joined as CEO in 2019, as OpenDrives made several hires, including former Ogilvy global divisional chief executive Jonathan Adler as chief marketing officer and former Dell EMC technologist Robert Adolph as business development vice president.

The pandemic has increased a need for remote workflows and storage, and Buss predicts growth for OpenDrives in the media and entertainment industry and other industries that may have not needed HPC and storage solutions before.

David Buss, OpenDrives CEO

OpenDrives CEO David Buss

"If you look at the the remote workflows that have been part of the COVID environment and are likely to continue, OpenDrives has been very nimble in being able to create what we call OpenDrives anywhere, where you can work remotely the workflow… that would take place in a big production house, Sony or Disney or Panasonic," said Buss. "But we now have through our software package, our new scale out architecture ... it puts us in the cloud, and it doesn't matter where your storage is done now."

OpenDrives clients include HBO, Spotify, Disney, Riot Games, Paramount, Sony and YouTube.

The company also announced a strategic investment in Ctrl IQ, Inc., a company founded by Gregory Kurtzer, who also recently developed Rocky Linux. Together, the companies are working on a hybrid model of storage and computing that will support workflows with higher data security and better computing. Buss hopes these features will attract clients from other industries.

"Worldwide spending on data storage architecture is set to be worth $78 billion in 2021," said Joel Whitley, principal at IAG Capital Partners, in a statement. "OpenDrives not only stands to capitalize on that, but with its powerful alliance with Ctrl IQ, is well-positioned to capture share in strengthening HPC and cloud computing sectors, which are expected to hit $10 billion and $832 million respectively by 2025."

LA’s Data Center Supply Crunch

🔦 Spotlight

Happy Friday Los Angeles!

The Los Angeles data center market is experiencing a significant supply crunch, ranking 12th in growth among top markets since 2020 with only 265 megawatts of colocation inventory (data centers where businesses rent space to store their computing hardware and servers). Despite this, demand is surging, driven by AI, cloud, and hyperscaler needs, with AI accounting for 20% of new data center demand nationally. This scarcity is creating a highly competitive environment, with vacancy rates at a record low 3% and asking rents rising 13-37% year-over-year. For Los Angeles, this presents both challenges and opportunities in the big picture. The city's strategic position as a global entertainment hub and its connectivity to international markets through subsea cables make it an attractive location for data centers. However, the limited inventory and rising costs could potentially hinder growth and innovation in the tech sector. To maintain its competitive edge, Los Angeles will need to address these constraints through new developments, such as GI Partners' 16 MW addition at One Wilshire, and by focusing on high-connectivity, high-power capacity submarkets. The city's tech community should prepare for a landscape of increased competition for quality data center space, higher costs, and the need for innovative solutions to meet growing demand, particularly in AI and cloud services. While Los Angeles faces a challenging data center supply crunch, its strategic advantages and ongoing developments offer a promising path forward.


🤝 Venture Deals

LA Companies

  • Daisy, a one-year-old startup that designs and installs smart home and office technology systems, raised a $7M Series B co-led by Goldcrest and Bungalow, with previous investors Bullish and Burst Capital also stepping up. The company has raised a total of $13.3 million. - learn more

LA Venture Funds


    ✨ Featured Event ✨

    LA TECH CEO SUMMIT

    LA’s tech leadership is set to reunite after a long break! This two day summit will focus on building strong connections, sharing insights, and fortifying the local tech community.

    Learn More Here

    Register Here


    Download the dot.LA App

    🌐Decentralizing Data & Vacations: Sony's Web3 Leap and Sensible Weather's KOA Partnership

    🔦 Spotlight

    Happy Long Weekend Los Angeles!

    Sony Group is making a significant push into the blockchain and Web3 space, leveraging its Sony Pictures and Sony Music divisions along with a new global incubator. The company has developed the Soneium blockchain through Sony Block Solutions Labs, a joint venture aimed at accelerating Web3 innovation. Sony is launching the "Soneium Minato" public testnet and a developer incubation program called "Soneium Spark" to foster ecosystem growth and adoption. The initiative includes strategic partnerships with Web3 companies such as Astar Network, Circle, and Optimism. Sony aims to create a fan community centered on creators and connect diverse values through Soneium, with the ultimate goal of integrating Web3 services into people's daily lives. While the company acknowledges the challenges faced by Web3, including limited user adoption and the need for mainstream use cases, it remains committed to decentralizing the concentrated power of the current internet landscape.

    In completely unrelated and more digestible news Sensible Weather, a leading weather protection provider that we’ve featured many times, has partnered with Kampgrounds of America (KOA) to offer Weather Guarantees at over 450 KOA Campgrounds across the United States. This collaboration allows campers to purchase weather protection for their outdoor experiences, providing peace of mind and potential reimbursements of up to 100% of their nightly rate if weather conditions exceed predefined parameters. The partnership comes at an opportune time, as camping has seen a significant increase in popularity, with active campers growing by 68% over the past decade. If you are looking to do some camping this fall make sure you look into Sensible Weather protections to ensure that unpredictable weather won't dampen (nailed it) your camping experience.


    🤝 Venture Deals

    LA Companies

    • Space and Time, a blockchain data warehouse developer, raised a $20M Series A led by Framework Ventures. - learn more
    • Miris, a provider of spatial content streaming solutions, raised a $26M Seed Round led by IAG Capital Partners. - learn more

    LA Venture Funds

    • Fika Ventures led a $4.55M Seed Round for Revenew, a San Francisco startup that aims to help digital platforms and marketplaces manage their payments and optimize financial operations. - learn more
    • Bonfire Ventures participated in a $25M Series A for Supio, an AI platform for personal injury law firms. - learn more
    • Amplify LA participated in a $2M Seed Round for Pryzm, a startup that provides tools and data to help businesses navigate government contracting more efficiently. - learn more

      ✨ Featured Event ✨

      LA TECH CEO SUMMIT

      LA’s tech leadership is set to reunite after a long break! This two day summit will focus on building strong connections, sharing insights, and fortifying the local tech community.

      Learn More Here

      Register Here


      Download the dot.LA App

      Personality Assessments Improving Workplace Dynamics

      Misunderstandings can have significant and sometimes severe impacts, far beyond the hilarious cake pictured above. Many organizations are increasingly using personality assessments to improve team dynamics and productivity. Tests like the Enneagram, Myers-Briggs Type Indicator (MBTI), and DISC assessment are valuable tools for developing existing teams in addition to hiring new employees. These assessments provide insights into team members' motivations, communication styles, and work preferences, helping colleagues understand each other better. By highlighting the different personalities within a team, these tests can enhance communication, resolve conflicts, and optimize task assignments based on individual strengths. As companies aim for greater efficiency and collaboration, the Enneagram, MBTI, and DISC assessments are becoming essential for transforming established teams into more effective and cohesive units.


      Image Source: iEQ9

      Enneagram

      The Enneagram test is a sophisticated personality assessment that categorizes individuals into nine distinct personality types, each defined by unique motivations, fears,and behavioral patterns. This holistic approach enhances team dynamics in a business setting by fostering self-awareness, improving communication, and facilitating conflict resolution among team members. By understanding different personality types, teams can optimize their composition, tailor professional development, and create a more empathetic and collaborative environment. This framework not only helps leaders adapt their styles to better support diverse team members but also promotes inclusivity and effective collaboration, ultimately leading to improved team performance, productivity, and retention.

      Resources:iEQ9. We recommend getting an Enneagram coach to get the most out of the results.

      Key Features: Focus on core motivations. Accounts for personality shifts under stress or growth. Offers practical, actionable guidance for personal growth. Uses a dynamic, adaptive questioning approach. Claims 95% accuracy rate through advanced techniques.


      Image Source: DiSC Profile

      DiSC (Dominance, Influence, Steadiness, and Conscientiousness)

      The DiSC assessment is a widely used behavioral analysis tool that categorizes individuals into four primary personality types: Dominance, Influence, Steadiness, and Conscientiousness. For businesses, DiSC provides valuable insights into employees' communication styles, work preferences, and motivations. By understanding these behavioral tendencies, teams can improve collaboration, reduce conflicts, and enhance overall productivity. Implementing DiSC in a business setting can lead to more effective leadership, tailored communication strategies, and optimized task allocation based on individual strengths.

      Resources:DiSC Profile.

      Key Features: Designed specifically for workplace applications. Focuses on observable behaviors rather than psychological traits. Widely researched and validated over 40+ years. Provides practical strategies for improving interactions.


      Image Source: The Myers-Briggs Company

      The Myers-Briggs Type Indicator (MBTI)

      The Myers-Briggs Type Indicator (MBTI) is a widely used personality assessment tool that categorizes individuals into 16 distinct personality types based on four dichotomies: Extraversion/Introversion, Sensing/Intuition, Thinking/Feeling, and Judging/Perceiving. For businesses, the MBTI provides valuable insights into employees' communication styles, decision-making processes, and work preferences.This helps promote a more productive workplace, and enables employees to become involved in more meaningful ways, all while leveraging everyone’s unique strengths.

      Resources:The Myers-Briggs Company.

      Key Features: Focuses on preferences rather than traits. Focuses on how people perceive and judge information. Widely used in business and career counseling


      Download the dot.LA App

      RELATEDEDITOR'S PICKS
      Trending