MarginEdge is unique because it’s built by restaurant owners for restaurant owners, and its platform reflects this by removing all the paperwork headaches.
FAIRFAX, Va. (PRWEB) March 04, 2019
MarginEdge, the industry’s fastest-growing restaurant management platform, is scaling up with the addition of Dan Henderson as Senior Vice President of Corporate Development. Dan will head up all corporate development activities with an initial focus on building revenue-generating relationships with key solutions providers in the restaurant sector, including accounting firms, software providers, and POS vendors.
Dan has spent the last 20 years as an entrepreneur and early-stage investor in technology companies, and was a founder or early employee at four startups, with a track record of two exits, one to a public company. Dan joins MarginEdge from venture capital fund CIT GAP Funds where he led MarginEdge’s first institutional funding round in 2016 and invested in 25+ early-stage technology product companies.
Dan comments on the opportunity to transform the restaurant sector, “Software companies have repeatedly failed to address the back-office needs of restaurants because they’ve lacked a deep understanding of restaurant operations. MarginEdge is unique because it’s built by restaurant owners for restaurant owners, and its platform reflects this by removing all the paperwork headaches. The product automatically processes and combines all line-item-level invoices and sales, giving owners a daily P&L and visibility into every part of their businesses. Also, the Company’s management team are exited software entrepreneurs, so they know what it takes to delight customers while scaling a technology platform.”
MarginEdge and CIT have been business partners for several years, initially when CIT became a ground floor investor in MarginEdge. Ed Albrigo, CIT’s President and CEO, says, “MarginEdge was a compelling investment from the very start because of a few key factors. The group of founders have deep restaurant and technology experience, they are addressing a huge market ripe for transformation, and their solution resonated with their target market from the very beginning. The addition of Dan, a fantastic leader, to an already strong leadership team, bolsters our belief that MarginEdge has a bright future.”
When asked about Dan’s new role, MarginEdge founder and CEO Bo Davis says, “Dan joins us at a pivotal point as we ramp up our national expansion. Dan will be focused on accelerating our growth in the US restaurant industry, and his combination of corporate experience and entrepreneurial roots make him a great addition to the team.”
MarginEdge’s mission is to create a world where restaurant operators can focus on the business they love. By eliminating unproductive paperwork and streamlining the flow of operational data, MarginEdge is reimagining the back office and freeing restaurants to spend more time on their culinary offerings and guest experiences. MarginEdge serves over 600 restaurants in 33 states and has offices on four continents.
About the Center for Innovative Technology
The Center for Innovative Technology (CIT) creates technology-based development strategies for the next generation of tech companies based exclusively in Virginia. Created in 1985, CIT, a non-profit corporation, plugs gaps at the earliest stages of the innovation cycle through its family of seed- and early-stage funds. Since its inception in 2004, CIT’s funds have directly invested $25M in more than 170 companies and attracted $750M venture dollars in follow-on investment.