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Austin-based software and hardware developer Pivot3 has raised $45 million in Series G funding. Argonaut Private Equity, S3 Ventures, InterWest Partners, Mesirow Financial Private Equity and the Wilson Sonsini Goodrich & Rosati investment fund contributed to the round, which will be primarily used to accelerate growth.
The infrastructure specialist will do so by hiring roles in sales and marketing, expand its channel partner strategy, and improve the company's technical competitive advantage.
“The pervasive need to address unmanageable IT complexity while providing lower cost and improved service on a global scale has created an environment for explosive growth in the HCI market,” said Ron Nash, chairman and CEO of Pivot3. “Pivot3 now has the opportunity to go from being an original innovator of hyper-converged infrastructure to becoming a global leader in providing transformative IT infrastructure technology to our customers, who are leaders in IT and security organizations.”
Steve Mitchell, managing director of Argonaut Private Equity, will join Pivot3’s Board of Directors.
“We invest in premier companies that can transform large and important industries,” said Steve Mitchell, managing director of Argonaut Private Equity. “Pivot3 is on the leading edge of a once-in-several-decades transformation of the underlying technology that operates IT data centers globally.”
