Last month, video storage solutions provider Pivot3 announced that it had raised $25 million in funding from several investors. The company raised that amount to $29 million this week after receiving another investment from Canada-based Northleaf Capital Partners.
Melissa McJannet, managing director of Northleaf, said in a statement that the firm was impressed with Pivot3’s revenue growth given the current state of the economy and that they see more opportunities for the company as the expand their technology to new markets.
"We are delighted to welcome Northleaf Capital Partners to our investor community as we build a financial arsenal to expand the market and geographic reach for our products," said Lee Caswell, founder and CMO of Pivot3. "Our unique approach to merging server and storage virtualization has gained quick market acceptance and that is now translating to success in raising funds for our future growth."