Tuesday, April 14, 2009

Reva Systems Raises $5 Million in Venture Capital Deal - Chelmsford, MA

Reva Systems, a Chelmsford-based provider of radio frequency identification (RFID) technology, has raised $5 million in a venture capital, the company announced on Tuesday. The deal was led by North Bridge Venture Partners and Charles River Ventures, both original backers since the company's founding in 2004. The investment follows a 43% growth in revenue by Reva in 2008, and will be used primarily to expand Reva's international network of resellers and technology partners and to drive new product offerings based on the company’s “tag acquisition processor” technology.



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