ALBUQUERQUE, N.M. — Albuquerque’s homegrown point-of-sale software startup for restaurants is now offering its employees a piece of the business pie.
Lavu announced a new stock option plan Monday for its U.S.-based employees. The benefit reflects continuing growth and success at Lavu, which launched in 2010, allowing the company to give back to its workforce and provide a sense of ownership, said Lavu CEO Saleem S. Khatri.
“Lavu is at an inflection point and this is a great time for the company to thank those employees who have helped us get to where we are today,” Khatri said in a prepared statement. “Our Lavuers have built and shaped this company into what it is – a rocket ship.”
The company’s point-of-sale software allows restaurants to manage all services on mobile devices in real-time on a single, integrated platform. It sells the system in about 90 countries, with more than 170 employees in Albuquerque, Miami and India.
Lavu will ramp up its local workforce in the next few years at its new, 17,700-square-foot office at the U.S. Eagle Plaza building south of Civic Plaza Downtown, where it moved January. It received $270,000 in Local Economic Development Act funding to help pay for the move, in return committing to add at least 46 more local employees.
Mayor Tim Keller called it a great example of how successful local startups are growing the city’s employment base.
“The value for local workers and the strength of the local economy when homegrown companies grow and succeed is so important for Albuquerque,” Keller said in a prepared statement. “It’s a focus of our economic development strategy.”