Software maker Pivot3 increases funding round

Jan 27, 2015
Austin Business Journal

Pivot3 Inc., a virtualization software developer, reported increasing its latest round of financing to $11.3 million


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


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 last year


In October 2014, it reported raising $10 million of a planned $12 million equity financing. The report came two months after Pivot3 executives issued a statement indicating that the 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 2013, the company 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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