Palo Alto-Based Pivot3 Secures $25 Million in Funding

Palo Alto, Calif. -- Pivot3, a Palo Alto-based, developer of storage appliances for the video surveillance market, said on Tuesday that it has landed $25 million in a new round of funding, led by Focus Ventures. Previous investors InterWest Partners, Lightspeed Venture Partners, Mesirow Financial Capital Partners IX and Silver Creek Ventures also participated in the round, which the company will use to expand sales operations beyond the Americas. "We now have the resources to expand our lead in the surveillance vertical and also take our product into new markets," said CEO Bob Fernander. Pivot3's platform allows video surveillance clients such as the Port of Seattle, the Mall of America and the City of Trenton to consolidate physical servers into storage appliances, reducing heating and cooling costs, as well as the amount of space needed.
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