Pivot3 to Use $55M Investment to Grow Storage-Centric Security Solutions
Funding to expand and integrate hyper-converged, flash storage and QoS solutions, as well as accelerate go-to-market strategy.
LAS VEGAS — Pivot3 bounced into this year’s ISC West on the news of having secured substantial investment to propel its development of storage-centric hyper-converged infrastructure (HCI) solutions forward. The company says its recent $55 million equity and bank financing from Argonaut Private Equity and S3 Ventures will accelerate the company’s growth and enable it to bring to market the most extensive suite of hyper-converged and flash storage solutions with predictable performance that is available today.
“We are dedicated to investing in market-leading companies that deliver innovative solutions for real-world problems, and Pivot3 exemplifies our mission,” says Steve Mitchell, managing director of Argonaut Private Equity. “Hyper-converged infrastructure and flash storage are two emerging markets that are experiencing unprecedented growth. Pivot3 is poised to become an unparalleled presence with truly differentiated solutions that address the cost and complexity of the modern IT data center in a far broader and more comprehensive way than its competitors.”
As part of this financing, Pivot3 is moving its banking relationship to Square1 Bank, an emerging leader in technology financing. “The insight to future technology needs and the aggressive movement to market opportunities that we see in Pivot3 make it a great customer for Square1 Bank and our team of technology bankers,” says Ken Fugate, founder and managing director of Square1 Bank. “We expect to grow over the years with them.”
In February 2016, Pivot3 acquired NexGen Storage, a leading provider of PCIe flash arrays with storage Quality of Service (QoS) and dynamic provisioning capabilities. Pivot3 and NexGen’s combined capabilities allow customers to apply the right infrastructure and priority to each workload, application or business service according to its business value and to guarantee the appropriate level of service. The latest round of funding will accelerate the integration of the combined NexGen and Pivot3 product set, development of breakthrough new products and advancement of the go-to-market plan.
“Companies today need a dynamic, agile and flexible IT infrastructure that can provide them with a competitive advantage as well as a significantly lower total cost of ownership,” says Ron Nash, CEO of Pivot3. “Pivot3 is tackling this challenge head-on by initiating a market-wide transformation that will expand the traditional notion of hyper-convergence and high-performance storage and allow customers to effectively and efficiently manage IT as they adapt more quickly to emerging business challenges.”
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About the Author
Scott Goldfine
Scott Goldfine is the marketing director for Elite Interactive Solutions. He is the former editor-in-chief and associate publisher of Security Sales & Integration. He can be reached at [email protected].
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