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Reva Systems Raises $5M, New CEO Named

Reva Systems, a Chelmsford, MA-based provider of RFID infrastructure software, says it has raised $5 million from previous investors and named Bruce Berger its new CEO. Berger is a former chief executive of North Grafton, MA, optical fiber provider Verrillon, and he takes over for acting Reva Systems CEO Ashley Stephenson. Stephenson will remain chairman of Reva Systems, which he co-founded in 2004, company spokeswoman Pamela Nelson says. The financing was led by previous backers North Bridge Venture Partners and Charles River Ventures, both of which have offices in Waltham, MA.

Ryan McBride is Xconomy's correspondent. You can reach him at rmcbride@xconomy.com, or follow him on Twitter at http://twitter.com/Ryan_McBride.

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