Pivot3, a US-based virtualisation technology developer backed by consumer electronics producer Samsung, closed a $55m round yesterday consisting of both equity funding and financing.
The news follows Monday’s report that the company had raised $19m in fresh capital and entered a partnership agreement with data centre operator T5 Data Centers.
The equity portion of the round is being provided by Argonaut Private Equity and S3 Venture according to an accompanying press release, though a regulatory filing from last week shows that a total of 13 backers had invested by that point.
The debt portion is being supplied by Square1 Bank. Pivot3 will move its banking relationship to that institution as part of the deal.
Founded in 2002, Pivot3 is working on infrastructure IT technology focused on sectors including video surveillance and video-based security, virtual desktop and disaster recovery.
The company has now raised a total of $210m in equity and debt financing, with Samsung having taken part in a $23m series D round in 2012.
Argonaut and S3 previously also invested in a $45m series F round in February 2015. InterWest Partners, Mesirow Financial Private Equity and Wilson Sonsini Goodrich & Rosati also contributed to the equity tranche of that round, while undisclosed financial services firms provided the debt part.
Pivot3’s backers also include Silver Creek Ventures, Northleaf Capital Partners, Focus Ventures, InterWest Partners and Lightspeed Ventures Partners.