Greg Phipps, the man who once brought BDC Venture Capital to Radian6, has taken a leave of absence from Innovacorp to join Livelenz Inc. as its president.

Phipps said in an interview Friday he will be away from Innovacorp, where he serves as an investment director, for six to 12 months to help with operations at Livelenz, which develops data-analysis technology for quick service restaurant, or QSR, franchisees. He will retain his duties as a director at Innovacorp portfolio companies AioTV and Equals6.

Phipps joined the board of Livelenz in February, when Innovacorp made a $1 million investment in the company. In the ensuing six months, he developed a strong working relationship with CEO Joel Doherty and his partner Daryl Fraser.

“From Innovacorp’s standpoint, there’s always an expectation when you make a venture capital investment that you’re going to spend a good deal of time with the founders and senior executives,” said Phipps, who was the BDV venture capital officer who made the bank’s profitable investment in Radian6. “This is me working very, very closely with one of our high-potential growth companies.”

Launched in 2010, Livelenz was founded to help the owners of fast-food franchises analyse in real-time the data they need to make prudent business decisions. In particular, they analyse four variables that quick serve restaurants, or QSRs, have to monitor in order to prosper: sales; labour costs; food costs and employee theft. By monitoring these four factors in real time, Livelenz can help QSR franchisees implement little changes that save money and/or increase sales.

Phipps has so far been working on finding a new head office, likely in the Bedford-Sackville area, to consolidate Livelenz’s two locations in Kings County and Dartmouth. He will participate in a retreat this month to help the team plot its next round of product designs.

The company is now working with Seiko Epson Corp. of Japan, which has 75 percent of the North American market for Point of sales receipt printers, to embed Livelenz systems in the next generation of receipt printers.

The company is working on the development of about eight products, and to help with that, it is aiming to complete an $8 million to $10 million B round in the next 12 months.