OpenTable has bought Chattanooga startup Quickcue for $11.5 million in cash from investors Blank Slate Ventures and Chattanooga Renaissance Fund.

Quickcue, which was founded by entrepreneur Aaron Welch and boosted by local investors like Lex Tarumianz and dozens of others, is the first company from Chattanooga's entrepreneurial class of 2011 to build a successful business model and sell itself for a sizable profit.

The company offers clients, typically fast-casual restaurants, an iPad application for about a penny per customer to help manage wait lists, track customer preferences and offer customized services.

San Francisco-based OpenTable also offers a mobile app, but has traditionally found much of its success on the consumer side. OpenTable is the biggest player in the online reservation booking business, seating more than 12 million diners per month across 30,000 restaurants.

Read more from our news partners at the Chattanooga Times Free Press.