Pivot3 increases Series E funding round by $3.5M

Oct 28, 2014
Austin Business Journal

Pivot3 Inc., an Austin virtualization software developer, reported completing a $10 million equity financing

The company collected the capital from six investors, according to a Monday filing with the U.S. Securities and Exchange Commission

The filing was an update to an August filing which the Pivot3 reported receiving $6.5 million from four investors

Pivot3, which was founded in 2003, develops server and storage virtualization software and hardware. The company, which also operates a development center in Houston, employed 78 workers earlier this year

In August, Pivot3 executives issued a statement indicating that company had completed a $12 million Series E round of funding. CEO Ron Nash later said it collected an additional $2.5 million from a converted bridge loan

Austin-based S3 Ventures led the Series E round, which increased to an estimated $110 million the amount of capital Pivot3 had raised since launching

In October 2013, it received a $14 million round of funding from a syndicate of investors that included California-based InterWest Partners, Chicago-based Mesirow Financial Capital Partners, and California-based Focus Ventures

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