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Pivot3 Picks Up $24M

iSCSI SAN startup Pivot3 will announce $24 million in Series C funding next week, as the vendor plans to ramp up its sales efforts and target areas outside of its traditional video surveillance niche.

The round, which was led by Mesirow Financial Capital Partners, included Silver Creek Ventures, Lightspeed Venture Partners, and InterWest Partners, bringing Pivot3's total funding to $46.5 million.

"It's for increasing sales and marketing activity and product development," says Robert Fernander, the Pivot3 CEO, explaining that he will increase the firm's workforce from 50 to 70 within 12 months.

"In the latter part of this year, you will see us enter some new markets -- we're planning that activity now," he notes. "The things that are adjacent to what we do today are streaming video and rich media for things like static images."

At the moment, more than a dozen customers are using Pivot3's distributed RAID system, largely for storing video surveillance data.

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