Existing investors Focus Ventures, InterWest Partners, Lightspeed Venture Partners, Mesirow Financial, Northleaf Capital Partners and Silver Creek Ventures also participated in the round, which will principally be used to fund expansion of the company’s product development, sales and marketing activities.
Pivot3 was founded in 2003 and has more than 500 customers across the globe using its Pivot3 vSTAC unified storage and compute appliances. The company’s products are used in the data protection, virtual desktop infrastructure, digital video surveillance and rich media markets and have proved popular in the public sector, transportation, education and retail vertical segments.
In a related development, the business has set the foundation for executing a commercial partnership with Samsung Techwin, a global technology manufacturer and systems integrator.
Brian Kang, a managing director at Samsung Ventures America, said, “We chose to invest in Pivot3 because we see them as a leading player in a large and rapidly growing space of strategic importance to our business.
“The commercial partnership with our Techwin affiliate yields an important second dimension of mutual opportunity for the companies.”
Samsung Ventures recently participated in a $40m Seiess C financing round for IntegenX, a developer of rapid human DNA identification technology and DNA sequencing library preparation systems.
The firm joined a consortium of investors led by Essex Woodlands, a Palo Alto-based healthcare venture capital and growth equity firm, and fellow existing investors Domain Associates, QuestMark Partners, Greenspring Associates, Cross Creek Capital, RONAholdings and strategic partner In-Q-Tel.
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