Active Storage Completes Funding Round

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Active Storage, a Torrance developer of media and entertainment industry storage products, said Tuesday that it completed an $8 million Series A funding round, lead by Intel Capital.

Active Storage’s founders, including Chief Executive Alex Grossman, are former executives at Apple Inc. where they were responsible for server and storage products. Active Storage XRAID, the new company’s flagship system, is used in the production and broadcast of high-definition television and movies. Users include Nascar Media, Televisa and the Golf Channel, the company said.

Grossman said the XRAID takes advantage of industry trends toward using more off-the-shelf Apple products in the show production. His company’s hardware and proprietary software is designed to be more cost-effective, easier to install and integrate with Apple systems. The storage products range in price from $7,000 to $16,000, with a typical installation running $25,000.

Intel Capital is the investment arm of Santa Clara semiconductor giant Intel Corp.. Also participating in the round were Mission Ventures of San Diego and Valhalla Partners of Vienna, Va.

“Despite the market conditions we’re pleased to find a tremendous amount of entrepreneurial activity in Southern California,” said David Ryan, managing partner at Mission Ventures, which has a Santa Monica office. “Active Storage is attractive to us as a local company not only for its technology vision but also for the team.”

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