Austin tech company Pivot3 raises $14 million for expansion

Oct 25, 2013
Austin American Statesman


Austin-based data storage company Pivot3 has raised $14 million, bringing the total investment it has received to more than $100 million


The company sells software and hardware products for the video surveillance and desktop virtualization markets


Pivot3 has more than 600 customers in industries ranging from corrections and education to government, health care and retail. They include SeaTac International Airport, the Metropolitan Boston Transit Authority and 65 casinos worldwide


Pivot3 received the latest funding from a syndicate of investors that included California-based InterWest Partners, Chicago-based Mesirow Financial Capital Partners and California-based Focus Ventures


The round included both equity and “other financial support” from its investors and partners, including Comerica Bank, the company said


Pivot3 was founded in Houston by former Compaq Computer Corp. engineers and moved its headquarters to Austin three years ago


The 80-person company said the new capital will go towards funding growth and reaching sustained profitability in 2014


Last year, Pivot3 completed a $23 million round of financing to expand its technology into new markets. The lead investor was Korea-based Samsung Venture Investment Corp. The funding increased the amount of venture capital raised by Pivot3 to $100.5 million since its inception


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