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| Bob Fernander, CEO Pivot3 said that virtual deployments can save power, cost and rack space |
Pivot3®, Inc., the leading provider of IP SANs to the video surveillance market, announced that it was selected as a top 50 venture-backed company by the Wall Street Journal in the publication's second-annual "The Next Big Thing" list.
The Next Big Thing is an annual ranking published by The Wall Street Journal. To be eligible for The Next Big Thing ranking, a company must have raised an equity round of financing in the last three years and have a valuation of $1 billion or less. Approximately 5,740 candidates were considered for this year's listing.
"Venture capitalists are always looking for companies with a new idea that will prove powerful enough to explode into the marketplace," said Alan Murray, deputy managing editor of The Wall Street Journal. "The Next Big Thing highlights companies that we believe are worth watching and have a chance to make waves in their industry."
The list's ranking is determined through analysis of the track record of the company's founders and management, and investors on its board. It also evaluates the amount of capital raised in the last three years and the percentage change in a company's valuation in the last year. Wall Street Journal and Dow Jones VentureWire reporters and editors also provide perspective and expertise.
Pivot3 develops scale out infrastructure solutions that are maximised for performance, cost and availability sensitive applications in a variety of markets. Video surveillance, virtual desktops, data protection and imaging are examples of markets served.
Since it was founded in 2003, Pivot3 has attracted more than $78 million in venture capital. Its scale-out application platforms are installed in a hundreds of large-scale installations in the gaming, transportation, municipal and pharmaceutical markets.
"This recognition demonstrates the market potential of Pivot3's scale-out application platform innovation, which is poised to reverse the 20-year trend of separating servers and storage," said Bob Fernander, CEO, Pivot3. "Virtualisation creates the unique opportunity to re-join server and storage resources in a single scale-out platform to simplify virtual deployments while saving power, cost and rack space."
