Tervela Closed $18 Million Financing to Fund Its Expansion

Tervela, the New-York-based provider of open, intelligent, hardware-accelerated messaging systems, completed a $18m equity financing from its existing investors Goldman Sachs, Sigma Partners, Acartha Group and North Hill Ventures.
According to Eric Schnadig, CEO of Tervela, the funds will be used to continue the growth into existing and new sectors of financial services, as well as to expand the offerings to other global sectors that face massive data challenges. 
Since its creation in 2004, Tervela has raised a total of $50 million in venture capital, supporting the company’s growth and product development. 
In June 2009, Tervela launched the latest version of its main product, the TMX-500.

Join the discussion