VoltDB Names Bruce Reading President and Chief Executive Officer Senior Software Executive to Lead High Velocity Database Company through Critical Growth Stages
BILLERICA, Mass., Feb. 23, 2012 /PRNewswire/ -- VoltDB, Inc., the leading provider of high velocity database management solutions, announced today that Bruce Reading has been named President and Chief Executive Officer and a member of the board of directors of VoltDB. The appointment is effective immediately. Biographies of the company's leadership team can be found at http://voltdb.com/leadership.
Reading has spent the past 27 years building shareholder value in a variety of operating roles including sales, marketing, asset management and operations. Most recently, he was Senior Vice President and General Manager for Compuware Corporation (NASDAQ: CPWR), prior to which he spent six years as President, Chief Operating Officer and Senior Vice President for Gomez, Inc., which was ultimately acquired by Compuware. During Reading's tenure at Gomez/Compuware, annual recurring revenues grew from $3M to over $87M. Previously, he served in senior management capacities at Access International, Cayman Systems and Dictaphone Corporation, driving growth and helping each organization to achieve a highly successful acquisition exit. Over the course of his career, Reading has contributed to creating more than $1.4 billion in shareholder value.
"I'm thrilled to be joining VoltDB at a time when the company is poised for accelerated growth," said Reading. "I've been involved with several highly successful software companies over the years, from the formative stages through periods of rapid market expansion. VoltDB represents a blend of breakthrough database technology and superbly skilled people." Added Reading, "we are delivering critical Big Data solutions with high value business impact to a market in its early stages of acceleration. I look forward to serving our growing community of customers and partners and, in the process, delivering tremendous value to all VoltDB stakeholders."
Open source analyst firm Wikibon estimates that the Big Data market will grow at a CAGR of 58% between 2012 and 2017, hitting $50 billion within that period. As part of the Big Data market, VoltDB products uniquely address an emerging class of high velocity business challenges that require extremely fast database throughput, linear scaling and real-time analytics. Early applications of VoltDB solutions have delivered unique, high impact business value into financial trading, digital advertising, online games, network security, and military and intelligence systems. More information about VoltDB product applications can be found at http://voltdb.com/solutions.
"I've helped to create and scale a number of very successful data management companies over the years," said Michael Stonebraker, co-founder and CTO at VoltDB. "From the early academic prototypes of VoltDB, it was clear that our core design concepts – an ultra-fast RDBMS that delivers ACID guarantees using an industry standard data language (SQL) – would uniquely address many high velocity data problems. Bruce shares that vision and is joining VoltDB at a time when the company is poised to address a large, emerging market."
"Bruce Reading is a proven winner. He has the unique ability to combine vision and execution, and challenge high performing teams to deliver superior results," said John Mandile, managing director at Sigma Partners and VoltDB board member. "His decision to join VoltDB validates our beliefs of the exciting opportunities ahead, and reinforces our commitment to supporting the company through its future growth stages."
Designed by DBMS pioneer Mike Stonebraker for organizations that have reached the price/performance limitations of general purpose SQL databases, VoltDB combines the proven power of relational processing with in-memory throughput, linear scalability and uncompromising reliability. VoltDB is the ideal database solution for high velocity database applications that require blazing speed, 100% accuracy and real-time analytics. VoltDB is backed by leading investors, including Sigma Partners and Kepha Partners.