Pivot3 lands $23M in funding to expand sales, marketing

Samsung Ventures leads round for the provider of virtual servers and shared storage

Pivot3 announced early Wednesday that it's raised $23 million in funding, led by Samsung Ventures, with participation from past investors, including Focus Ventures, InterWest Partners, Lightspeed Venture Partners, Mesirow Financial, Northleaf Capital Partners and Silver Creek Ventures.

The new funds brings Pivot3's total funding to more than $100 million. 

Austin, Texas-based Pivot3, which was founded in 2003 and has 500 customers, provides storage area network appliances and virtual servers. 

The new capital will be used to expand sales and marketing. Additionally, the company plans to grow its core video surveillance and emerging IT businesses and accelerate the worldwide rollout of its VMware Virtual Desktop. 

"We chose to invest in Pivot3 because we see them as a leading player in a large and rapidly growing space of strategic importance to our business. The commercial partnership with our Techwin affiliate yields an important second dimension of mutual opportunity for the companies," said Brian Kang, managin director at Samsung Ventures, in a release.  Samsung Techwin is a provider of security solutions.     

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