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|Lavu raised $15 million from three financial backers a little over a week ago according to information disclosed by the company. The non-brokered equity offering was fully subscribed. The equity offering’s expected net proceeds amount to $10.57 million excluding $4.43 million that has been or is proposed to be used for payments to officers. No offering was previously initiated by the company under a registration exemption with the SEC.
Lavu designs and develops iPad-based point of sale and business management software for the hospitality industry.
Lavu, registered in 2015, is headquartered in Albuquerque NM. It is led by Andy Lim (CEO). Revenues were not disclosed.
Industry: Other Technology
Amount offered: $15 million
Amount placed: $15 million
SEC filing: Source
First sale: 06-04-2015
Data as of: 06-12-2015