Tervela Closes on $18 Million Financing to Fund Expansion
NEW YORK, Sept. 14 /PRNewswire/ — Tervela, the leading provider of open, intelligent, hardware-accelerated messaging systems, has completed an additional round of funding with participation from all of its existing investors.
A total of $18 million in new equity financing was raised from investments by Goldman Sachs, Sigma Partners, Acartha Group and North Hill Ventures.
“The fact that every one of our investors has contributed their full pro-rata amount in this round is a testament to their confidence in Tervela,” said Eric Schnadig, CEO of Tervela. “We will use the funds to continue our growth into existing and new sectors of financial services, as well as to expand our offerings to other global sectors that face massive data challenges. With a complete product line and sufficient capital on hand, we are now marshalling our resources to steer Tervela through this next growth phase and satisfy ever-growing market demand.”
Since its founding in 2004, Tervela has raised a total of $50 million in venture capital, supporting the company’s growth and product development. Tervela recently launched the latest version of its flagship product, the TMX-500, in June 2009. Tervela’s TMX product lines are successfully deployed and in production at some of the world’s most demanding data centers.
“We invest in disruptive technologies that have long-term growth potential,” said Bob Davoli, managing director, Sigma Partners. “Tervela’s product lines are changing the face of enterprise computing and communications by removing the legacy data distribution bottlenecks in the data center and delivering an open, intelligent and powerful framework for both existing and emerging applications. We’ve seen the market growth opportunity in the financial services industry, but now we’re witnessing great potential in other verticals as well.”
Tervela designs and delivers next-generation, enterprise-class messaging platforms used by financial services firms and other data-intensive organizations for better competitive execution regardless of increasing volume, time sensitivity and global distribution requirements of business-critical information. Deployed and in production in some of world’s most demanding data centers, Tervela’s flagship TMX product line incorporates specialized hardware-acceleration, processing intelligence and an extensible, open architecture that allow customers to rapidly deliver new projects and invigorate existing applications while lowering the risk and cost compared with traditional messaging and middleware solutions. For more information, please visit www.tervela.com.