Pivot3 to Accelerate Growth of Hyper-Converged Solutions with a $45 million
As a part of the current round, 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 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.”
Industry analysts predict dramatic market growth in hyper-converged systems. According to the Technology Business Research (TBR) quarterly webinar series in October 2014, “Converged systems are the go-to alternative to complicated piece-part infrastructure, sparking a $17.8B global market opportunity.” Ron Nash, chairman and CEO of Pivot3 stated, “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.” He added, “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.”