Pivot3 Announces $14 Million Financing Round

  Pivot3 Announces $14 Million Financing Round

           Brings total equity capital raised to over $100 million

Business Wire

AUSTIN, Texas -- October 24, 2013

Pivot3, a leading supplier of video surveillance and virtual desktop (VDI)
converged infrastructure storage appliances, announced today that it has
closed a significant financing round of more than $14 million in new
investment and working capital to fund the company’s growth and its drive to
sustained profitability in 2014.The round consists of additional equity
funding as well as other financial support from investors and key business
partners.The equity funding was led by InterWest Partners and Mesirow
Financial Capital Partners, and included additional funding from Focus
Ventures, Lightspeed Partners, Silver Creek Ventures, Northleaf Ventures and
Wilson Sonsini.Comerica Bank also provided important financial support.

Founded in 2003, Pivot3 pioneered the development of purpose-built virtualized
storage appliances for the surveillance market. Since that time, the company
has continued to strengthen its surveillance product line, most recently with
the addition of the Pivot3 vSTAC^® Edge appliance for distributed
environments. The company partners with Dell OEM Solutions for manufacturing,
global service and support to bring its product to market. Pivot3 also
leverages its own core technology platform to develop converged storage and
compute hardware appliances that deliver simplicity, scalability and savings
to virtual desktop environments. Today, Pivot3 accounts for more than 600
customers in industries ranging from corrections and education to government,
healthcare and retail.

“This financing is a testament to the innovation and great momentum we have
established for our storage platforms in both surveillance and VDI,” said Bill
Galloway, Chief Executive Officer, Pivot3. “This latest round of financial
backing puts Pivot3in a stronger position to actively pursue opportunities in
our target markets that support long-term revenue and earnings growth.”

The company recently closed a record second quarter, which included a
$2.7-million video surveillance storage deal in Central America. Pivot3 also
experienced large wins in the transportation, government and municipal
environments. These markets, in particular, have seen an influx in the
deployment of video surveillance cameras due to heightened security needs. In
addition, the company has recently experienced a quarter on quarter doubling
of growth in the virtual desktop market with notable wins in healthcare,
education and the public sector. Earlier this year, Pivot3 launched its
Professional Services programs, and services revenues have seen steady growth.

The Pivot3 vSTAC family of appliances delivers seamlessly converged, highly
available shared storage and virtual server appliances that are designed for
modern virtual server and data workloads. Pivot3 vSTAC appliances run on
enterprise class Dell hardware that eliminates many of the complexities,
constraints and high costs associated with legacy shared storage and converged
computing alternatives. Customers across the globe rely on Pivot3 for
simplicity, scalability and savings.

AboutPivot3

Pivot3 was founded in 2003 on the idea that today's stack of virtual servers,
shared storage and networks could be converged to drive down complexity and
cost while dramatically increasing scale-out performance. Today, Pivot3 has
over 600 customers across the globe deploying Pivot3 vSTAC^® converged storage
and compute appliances. Pivot3 products are deployed in the video surveillance
and virtual desktop markets, and have seen particular success in the public
sector, transportation, gaming, education and retail vertical segments. The
company has won numerous awards and was most recently selected by Forbes
Magazine in 2013 as “One of America’s Most Promising Companies”, and by CRN in
their top 100 Virtualization list for 2012. To learn more about Pivot3,
visitwww.pivot3.com.

Contact:

Media Contacts:
CompassPR
Rhianna Daniels, +1 (813)645-1242
rhianna@compasspublicrelations.com
or
Mindshare PR
Heather Fitzsimmons, +1 (650) 800 - 7160
heather@mindsharepr.com
 
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