CBI Magazine interviews CEO Al Noshirvani on the growth of Motionsoft
February 6, 2012
Club Business Industry (CBI) magazine’s February “First Person” features Motionsoft CEO Al Noshirvani. Al answers the question:
What prompted you to seek venture funding? What’s your relationship with the investment firm like? Did Motionsoft’s involvement with the club industry affect its ability to attract an investor? In what fundamental ways has venture capital changed the company?
“Why did we seek venture funding? after having been in the industry for about 10 years, my brother and I felt that there was a huge opportunity having to do with a need that wasn’t being met by the software vendors in our space, who are mainly billing and collections companies. We felt our industry needed technology that would better engage members and, simultaneously, help them to track and understand their patterns, habits, and trends. If we could get there, we could improve acquisition, retention, and revenue opportunities—a process that we’ve dubbed, “Get Them, Keep Them, Know Them.” We knew we could create a product like MoSo, our comprehensive new management solution—a product that would be a game-changer for a market that was hungry for change. To that end, in 2010, we secured a $5.5-million investment from the Edison Venture Fund.