RFID vendor Reva Systems raises $5m from venture backers

Existing investors North Bridge Venture Partners and Charles River Ventures led the new round

RFID infrastructure vendor Reva Systems has raised US$5 million in a new round of venture funding.

The funding comes as the Chelmsford, Mass. vendor named a new CEO, Bruce Berger, and announced the 500th installation of its Tag Acquisition Processor (TAP) product line. Counting the latest funding influx, Reva has raised $30 million since its founding in early 2004.

Reva offers a rack-mounted network appliance and Java software to manage large numbers of third-party RFID readers, capturing and processing lots of data from RFID tags, and then pushing it into line-of-business applications and databases.

The software can adjust the radios, bring readers online or offline, monitor daily quality, and identify problems and their location. "Network World" in 2006 named Reva a "startup to watch".

Existing investors North Bridge Venture Partners and Charles River Ventures led the new round. The money will be invested in two areas: expanding partnerships with resellers and with companies using the Reva products as the core of their own specialized or vertical market product; and creating new products.

Both will be overseen by Berger as the new CEO, who takes on the title from acting CEO and co-founder Ashley Stephenson. Previously, Berger was president and CEO of Verrillon, a specialty optical fiber company.

It's already been a busy week for network vendor venture funding, with several others also announcing new funds.

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Tags RFIDVenture capitalReva Systems

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