ALBUQUERQUE, N.M., June 15, 2015 /PRNewswire/ -- Lavu Inc., a leader
in the SaaS mobile point of sale industry, announced it has raised
$15 million in a Series A funding
with Aldrich Capital Partners leading the investment. Partner
Mirza Baig will be joining Lavu's
Board of Directors. Lavu's point of sale software is currently used
globally by over 4,000 locations with over 10,000 active
terminals.
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"Lavu is a best-of-breed solution in the mobile POS space.
Lavu lets restaurants take control of their operations by providing
front of house and back of house functionality," said Baig, partner
at Aldrich Capital. "Restaurants need a POS player totally focused
on their needs and Lavu provides a tailored solution for restaurant
workflows. We believe Lavu is well positioned to continue scaling
its solution to help restaurants run more efficiently and more
profitably."
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Throughout 2015, Lavu has continued their aggressive growth
trajectory including many notable accomplishments:
- 59% growth in recurring revenues year over year, including 51%
in Q1 of 2015
- Integration with LoyalTree, PayPal, and EMV chips
- Launch of Lavu 3.0, the new flagship product offering features
such as offline mode and a custom loyalty and rewards program.
Lavu plans to utilize the investment funds to expand its product
line and open satellite offices in major cities on both coasts. An
aggressive approach to sales and marketing will drive growth in its
global market leadership.
"Lavu is excited to partner with Aldrich Capital Partners.
Mirza Baig brings a wealth of
knowledge to the team having helped scale numerous high-growth
technology companies during the course of his career at Aldrich
Capital, AOL and other companies he co-founded," said Andy Lim, CEO and Co-Founder of Lavu. "We
continue to execute on our strategy and vision following a
remarkable 2014, as the market seeks new solutions for mPOS."
About Lavu Inc.
Founded in Albuquerque, NM and
operating worldwide Lavu Inc. was created to solve point of sale
difficulties and to bring the restaurant industry into the 21st
century. Lavu Inc. offers full-featured point of sale software
solutions at a fair price while redefining the approach to
service-industry business management.
CONTACT: Hannah Dietz,
855-767-5288, Hannah@lavu.com
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SOURCE Lavu Inc.