Pivot3, a US-based virtual desktop infrastructure technology developer backed by electronics conglomerate Samsung, secured $45m in debt and series F equity financing yesterday.
Argonaut Private Equity, S3 Ventures, InterWest Partners, Mesirow Financial Private Equity and Wilson Sonsini Goodrich & Rosati provided the equity component of the round, while the credit portion was supplied by undisclosed banks.
Founded in 2002, Pivot3 produces infrastructure IT technology for the video surveillance, virtual desktop, disaster recovery and video-based security sectors.
Ron Nash, Pivot3’s chairman and CEO, said: “The pervasive need to address unmanageable IT complexity while providing lower cost and improved service on a global scale has created an environment for explosive growth in the [hyper-converged infrastructure] market.
“Pivot3 now has the opportunity to go from being an original innovator of hyper-converged infrastructure to becoming a global leader in providing transformative IT infrastructure technology to our customers, who are leaders in IT and security organisations.”
The company has now raised $155m in total, and Samsung invested in it as part of a $23m series D round in 2012. Other past investors include Silver Creek Ventures, Northleaf Capital Partners, Focus Ventures, InterWest Partners and Lightspeed Ventures Partners.