A Boston-based restaurant technology firm Toast, has announced a $400Mn Series F funding round led by Bessemer Venture Partners, TPG, Greenoaks Capital, and Tiger Global Management with participation from Durable Capital Partners LP, TCV and others.
Toast will invest proceeds from the latest fundraise into its technology platform to meet the evolving needs of the restaurant industry. The company focused on empowering restaurants of all sizes to compete on a level playing field with global brands.
In July 2019, Toast had announced the acquisition of StratEx, a leading provider of HR and payroll software for restaurants. StratEx’s HR software and consulting services help restaurants automate applicant tracking, scheduling, payroll, benefits, and labor law compliance. After the acquisition, StratEx product is now part of Toast Payroll & Team Management, an all-in-one HR solution built specifically for the restaurant industry.
Earlier in April 2019, Toast has announced that it had raised $250 million in Series E funding at a $2.7 billion valuation led by TCV and Tiger Global Management along with participation from existing investors including Bessemer Venture Partners, Lead Edge Capital and funds and accounts managed by T. Rowe Price Associates, Inc.
Toast, headquartered in Boston, the USA, is a fastest-growing restaurant management platform in the country. The company was launched in 2013. The company has approximately 2200 employees globally and has presence in more than 230 cities with around 70 technology partners across the world. The company helps restaurants of all sizes with a technology platform that combines restaurant POS, front of house, back of house and guest-facing technology with a diverse marketplace of third-party applications. Toast focused on empowering restaurants of all sizes to compete on a level playing field with global brands.