(PRESS RELEASE) Albuquerque, NM – March 22, 2016 – Lavu Inc., a worldwide leader of iPad point of sale (POS) software and systems that transform how restaurants grow and succeed, today announced that Marc Chesley has been named Chief Executive Officer, succeeding the company’s founder, Andy Lim who will step down as CEO. Lim will remain on the Board of Directors of the Company.
Chesley is a veteran of the SaaS and small business market serving as Chief Technology Officer for Infusionsoft, the leading sales and marketing automation CRM platform for small businesses. There he led product development and business operations of the fast-growth global platform that today enables over 150,000 users across 35,000 small businesses to succeed. Under Chesley’s leadership, Infusionsoft customers securely processed over $5 billion of e-commerce a year. An early investor and employee at Infusionsoft, Chesley joined its leadership team in its infancy as a startup. Over his 10 years at Infusionsoft, Chesley helped grow the company from $1 million in revenue and 15 employees to $100 million in SaaS revenue and 700 employees, leading multiple funding rounds to secure over $100 million in venture financing.
“Since founding Lavu over five years ago, I would have never imagined that we would be at this stage so quickly. I’m extremely proud of how far the company has come,” said Lim. “After working with Marc as an advisor for several months, it became clear that his experience and passion for helping entrepreneurs succeed makes him an exceptional leader with ability to take Lavu to the next stage of growth, and beyond, as we evolve from a startup to a large-scale global leader. It’s the right time for our company’s management to elevate under the direction of someone with a record of deep experience in growing a platform that helps entrepreneurs succeed.”
“I’m thrilled that Marc has chosen to join Lavu and I couldn’t be more optimistic about where he and our amazing team will take it next,” said Lim. “I have never felt more excited about Lavu’s people, products and market opportunity.”
“I’ve spent the last decade of my life helping all types of entrepreneurs succeed,” said Chesley. “I multiply people and companies, so stepping into this role is a perfect fit for me to continue the passion I have for helping entrepreneurs win. Now, my focus is on a very specific type of entrepreneur — the restaurant entrepreneur, and I couldn’t be more excited.”
“We invested in Lavu for its proven impact and leading position as the restaurant success platform of choice enabling restaurant entrepreneurs worldwide to grow their businesses, fast,” said Mirza Baig, a member of the board of directors of Lavu and Partner with Aldrich Capital, the venture capital firm that recently led a $15 million round of financing in Lavu. Raheel (Raz) Zia, also a Partner at Aldrich Capital, has worked with Chesley since 2012, while Zia was a Managing Director with Goldman Sachs and led an investment of $54 million in Infusionsoft and was an active investor with Infusionsoft as the company expanded rapidly. “As we look at the next stage of growth, there is no better person to lead Lavu than Marc Chesley. Marc is a proven leader with deep experience in leading teams that drive breakthrough business strategy to successfully solve hard problems. His track record as an operator of growing and scaling hyper-growth companies by 100x is outstanding,” said Baig.
“Marc’s vision for how technology can enable restaurant entrepreneurs is exactly what Lavu needs as the company enters its next chapter of product innovation and growth,” continued Baig. “We’re pleased to have his leadership focused on furthering Lavu’s impact in the world.”
About Lavu Inc.
The global leader of iPad point of sale systems for growing full-service, quick-service and franchise restaurants, Lavu transforms how restaurant entrepreneurs grow and manage their businesses. Founded in Albuquerque, N.M., and operating worldwide, the company offers Lavu iPad POS as a full-featured point-of-sale software solution at an industry-leading price. Through cloud computing, wireless mobility and touchscreen devices, Lavu iPad POS redefines the entire experience of restaurant business management, helping restaurant entrepreneurs succeed. For more information visit: www.lavu.com.
About Aldrich Capital Partners
Aldrich Capital Partners (“ACP”) is a Private Equity firm with offices in the D.C. metro area and Menlo Park, CA. ACP focuses on investing in growing entrepreneurial companies in industry sectors such as business services, fintech, healthcare IT and software. ACP works closely with entrepreneurs/executives of growing private businesses and utilize our network of relationships, resources and expertise to help company owners attain their growth objectives. Principals of ACP have a proven track record of successfully helping build innovative businesses to IPO, strategic sale or as ongoing standalone entities. ACP’s Partners have led investments in multiple Phoenix area companies including Infusionsoft, Imaging Advantage, American Traffic Solutions and Loma Vista Medical (acquired by C. R. Bard). For more information visit: www.aldrichcap.com.
Ohad Jehassi, 305-924-5857