Cramer succeeds J. Barry Thompson, Tervela's founder, who takes over as Chief Technology Officer.

"Tervela gives financial services firms the means to effectively address debilitating message volume growth," said Thompson. "With deployments at some of the world's most demanding organizations, we are now ready to move to the next phase of business growth. Bob knows how to turn companies that have created transformative technologies -- like Tervela -- into cross-industry powerhouses."

Cramer was previously CEO of LiveVault, a pioneer in software-as-a-service targeting the IT market. LiveVault was acquired by Iron Mountain in 2005. Prior to that, he served as CEO of FirstSense, which was acquired by Concord Communications. Cramer also held senior sales and marketing positions at Oracle, AT&T and Ingres. He received his BS from the University of Massachusetts at Amherst and his MS from the University of California at Berkeley.

"Messaging volumes show no signs of abating on Wall Street or in other industries where speed affects profits and operations," said Cramer. "This is a world class team, backed by world class investors and a visionary founder who saw an opportunity to tackle a challenge that stands to not only change global financial services markets, but will radically transform the future computing and communications landscape."

Tervela recently released a hardware accelerated messaging platform that gives latency-dependent organizations -- such as the global banking industry -- the capacity to outpace exponentially increasing market data volumes. In production settings, customers have experienced up to a 1,000X improvement in capacity and performance over legacy messaging systems.