Texas-based data storage company Pivot3 has raised $23 million in new funding led by Samsung Ventures, with all existing Pivot3 investors participating including Focus Ventures, InterWest Partners, Lightspeed Venture Partners, Mesirow Financial, Northleaf Capital Partners and Silver Creek Ventures. This brings Pivot3′s total funding to nearly $100 million.
Pivot3′s storage hardware appliances offer integrated server virtualization for data to enterprise customers. Its RAID-based solutions are generally used to store video surveillance data. The company has over 140 customers including Port of Seattle, the Mall of America, and the City of Trenton.
Pivot3 is also entering into a commercial partnership with Samsung Techwin, the video surveillance and defense company that is a subsidiary of Samsung. It sounds like Pivot3 will be helping store video surveillance data for Samsung.
Brian Kang, managing director of Samsung Ventures America said of the investment: “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.”
The new funding will be used to fund expansion of its product development, sales and marketing activities.