The Technology team advised Toast as it closed a $115 million Series D funding round that values the company at $1.4 billion. The financing round was led by T. Rowe Price Associates, Inc., with participation from new investor Tiger Global Management, LLC., as well as existing investors.
The funding allows Toast to accelerate investment in research and development, recruit new talent, and expand its market presence. Areas of continued focus include:
- Handheld technology to increase sales: Toast Go™, a fully integrated mobile point-of-sale device designed by Toast, transforms how restaurateurs run and staff their business.
- Back of house technology to increase speed of service: In the fine-casual eatery, guests enjoy a mobile ordering experience and receive text notifications from the Toast Kitchen Display System when their food is ready. Servers on the floor extend the service model and provide continuous tableside ordering with Toast Go™
- Guest-facing technology to manage brand risk: With new guest feedback applications under development at Toast, restaurants of all sizes will soon be able to proactively address service concerns and re-engage guests directly through their point of sale.
Toast powers successful 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.
For additional details on the funding, please read the press release.