Pivot3 gets another $4 million
They're rolling in dough over at IP SAN storage maker Pivot3. About six weeks back, they announced a $25 million funding round, and now they've tacked on another $4 million to that, pushing their total since 2008 to somewhere around $53 million:
Palo Alto, Calif. â€“ April 20, 2010 â€“ Pivot3Â®, Inc., the first company to deliver virtual servers and scalable storage in a single platform, today announced that the Series D funding round previously announced at $25 million now totals $29 million, following a recent $4 million investment from Northleaf Capital Partners Ltd. Northleaf Capital Partners is Canada's largest independent global private markets manager and advisor. Northleaf joins existing Pivot3 investors Focus Ventures, InterWest Partners, Lightspeed Venture Partners, Mesirow Financial Capital Partners IX, and Silver Creek Ventures.Ugh. You'll see at the bottom of this year post that Northleaf is really just TD Bank in disguise. I hate TD Bank. They're my bank - ever since People's Bank was bought by BankNorth was bought by TD Bank (there may have been another bank in there somewhere, too). They've jacked up fees on everything, and taken the "Simply Free" checking that People's was known for and which got me hooked and made it not actually free and required a $100 minimum balance. Unfortunately, I have about 20 various accounts with them now and it's too much of a hassle to change banks (translation: Sam is too lazy to figure out how to do it, or even call someone who would probably just do it for him to get the business. No, none of this has anything to do with Pivot3). Here's some of the blah, blah stuff, in case you're interested:
â€œPivot3 met our criteria for growth-stage investment; we were impressed with the companyâ€™s revenue growth in a challenging economy and with the strategic opportunity we see as the company brings its unique technology to new markets,â€ said Melissa McJannet, managing director of Northleaf. â€œPivot3â€™s solid customer references and strong customer pipeline were instrumental to our decision process, and we are looking forward to the companyâ€™s expansion in other markets and others parts of the world, including Canada.â€ â€œPivot3 has a compelling product offering that has quickly become a core product in mainstream video surveillance deployments, including high-profile installations in Canada,â€ said Kevin Parisien, the Toronto-based project manager for Security & IT Systems Group at the MMM Group Limited. â€œWe are constantly on the lookout for new technology companies such as Pivot3 that bring more value to our customers.â€ â€œWe 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,â€ said Lee Caswell, founder and CMO of Pivot3. â€œOur 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.â€A "financial arsenal!" I wish I had a financial arsenal. Here's some other stuff about Northleaf:
Northleaf Capital Partners is Canada's largest independent global private markets manager and advisor. Northleaf's predecessor, TD Capital Private Equity Investors, was the private equity fund of funds and co-investment arm of TD Bank Financial Group, one of North America's leading financial institutions. Northleafâ€™s clients include corporate and public employee benefit plans, university endowments, foundations, government agencies, financial institutions, family offices and high net worth individuals. Northleaf is a global private markets investor with strong Canadian roots and a long history of superior investment returns. We are committed to building enduring relationships with our investors, fund managers, business partners and colleagues based on trust, openness, respect and the highest standards of integrity and professionalism. Northleaf's 45-person team is located in Toronto, Canada, London, UK, and Menlo Park, California. For more information, visit www.northleafcapital.com.I love how they changed the name from TD Capital Private Equity Investors to Northleaf. Those capital private equity investor guys are jerks! They're like Wall Street guys who stole my 401k and ruined my kid's college fund. But Northleaf? Wow. I bet they just use their money to protect the environment and make sure no trees get cut down. Boy, I bet they're really nice guys.