Pivot3 Increased Revenue by 103% in 1H16 From 1H15

Pivot3, Inc. experienced record growth and momentum in the first half of 2016.

This included increased revenue, expansion of its customer and employee base and the launch of its first joint product following the February 2016 acquisition of NexGen Storage.

In 1H16, Pivot3 achieved following  accomplishments:

• Increased revenue by 103% in the first half of 2016 compared to the second half of 2015;
• Added more than 400 customers to the installed base;
• Grew team by more than 40%, adding talent in all areas of the business;
• Launched, sold and shipped vSTAC SLX, Pivot3’s first joint product integrating technology from its February 2016 acquisition of NexGen Storage;
• Was named as HCI Product of the Year by Storage Magazine and Integrator ICT, UK and Middle East industry publications;
• Launched Pivot3 on Lenovo System X Broadwell platforms to deliver price performance and multi-petabyte storage solutions via unified flash, hybrid and storage platforms;
• Certified Pivot3 on Cisco UCS B and C Series platforms to deliver a virtualized IT infrastructure solution that unlocks enterprise capabilities in a small, efficient form factor.

“Pivot3 is experiencing record growth, but we are also becoming more efficient as we grow. We are building a company that is competent, innovative, visionary, customer-focused, fast-growing and financially stable, earning our customers’ and industry’s respect,” said Ron Nash, Pivot3 CEO. “None of our competitors have all of those attributes. This defines and distinguishes our business. We are here to build a company for long-term success, with the best technology, team and financially-prudent growth strategy.”

In addition to Pivot3’s performance in the first half of the year, the company appointed Bill Stover, an experienced industry veteran with expertise in managing the financial operations of public companies, as VP and CFO.

He most recently served as CFO of Solyndra, a solar panel manufacturing start-up, where he was brought in to build the team and processes for the explosive growth in global solar consumption. His prior experience includes 15 years as the VP of finance and CFO of Micron Technology, a publicly-held company in the semiconductor market. During his 18-year tenure at Micron, he oversaw the company’s acquisition of Texas Instruments’ memory operations, expanding Micron’s footprint multi-nationally. His semiconductor experience included serving on the board of directors of Micron and multiple international joint-ventures, as well as management of finance, purchasing, human resources and information technology functions.

“My expertise is in equipping high-growth technology companies for success. Pivot3 fits this profile, and is an admired industry leader with innovative technology, global reach and excellent growth potential,” said Stover. “I’m thrilled to join Pivot3 as CFO and look forward to working alongside the talented team as we accelerate our market-leading position while continuing to provide customers and partners with truly differentiated solutions.”

“Bill Stover, with his experience as CFO of a publicly traded company for over a decade, is exactly what we need at this time,” said Nash.

Stover’s appointment comes at a time when Pivot3’s revenue is growing at a rate of more than 100% annually and the company is releasing new products that set its solutions apart from other hyperconverged vendors. The most recent release, Pivot3’s vSTAC SLX featuring QoS capabilities, further enables customers to use hyperconverged infrastructure to run multiple workloads and satisfy a broad spectrum of data center needs with confidence.

“We rely on Pivot3’s hyperconverged platform to support the VDI used 24/7 in our two emergency rooms. Doctors, nurses and staff must move quickly between patients, and Pivot3 saves them time when minutes ands matter most,” said Scot Tymowicz, desktop configuration engineer at Southern New Hampshire Health System. “Pivot3’s product is the best in the industry, with the stability and reliability crucial for our organization to provide the highest level of patient care.”

“Innovative technology and a commitment to solving our customers’ business problems are at the heart of what we do at Pivot3, and we continue to invest in our products and people to deliver the best solutions to the market,” said Nash. “With 30 issued patents and more than 16,000 systems deployed in demanding IT environments around the world, we’ve put thousands of customers on the path to the software-defined data center.”