US-based virtualisation technology company Pivot3, backed by investors including electronics producer Samsung, secured $12m in series E financing on Thursday.
Venture capital firm S3 Ventures led the round, which included participation from InterWest Partners and financial services firm Mesirow Financial. The funding brought the total raised by Pivot3 to $110m since it was founded in 2003.
Pivot3 develops server and storage virtualisation software and hardware. The company will use the capital to support additional product development as it company scales operations.
Ron Nash, chief executive of Pivot3, said: “This financing is a testament to the great momentum we have established with our innovative hyper-converged infrastructure in the [virtual desktop infrastructure], surveillance and data centre sectors.
“We have had significant sales growth and this funding round puts us in a position to pursue more opportunities to accelerate new levels of revenue and earnings.”
Pivot3 received $14m in funding in October 2013, and $23m in a 2012 series D round in which Samsung Ventures invested alongside Mesirow Financial, Silver Creek Ventures, Northleaf Capital Partners, Focus Ventures, InterWest Partners and Lightspeed Ventures Partners.