What is Toast?
Founded in 2012 and headquartered in Boston, Massachusetts, Toast operates as a comprehensive cloud-based restaurant software provider. The company specializes in developing and delivering sales and management software systems designed to enhance restaurant operations, boost revenue, and elevate the overall guest experience. Toast's integrated platform addresses critical aspects of the food service industry, from point-of-sale systems to online ordering and back-of-house management, positioning it as a key player in digital transformation for restaurants.
How much funding has Toast raised?
Toast has raised a total of $1.9B across 8 funding rounds:
Series A
$3M
Debt
$3M
Series B
$30M
Series C
$101M
Series D
$115M
Series E
$250M
Series F
$400M
Stock Offering
$1B
Series A (2015): $3M with participation from Princeton Ventures Management
Debt (2015): $3M led by Undisclosed
Series B (2016): $30M supported by Google Ventures and Bessemer Venture Partners
Series C (2017): $101M featuring GV, Generation Investment Management, Bessemer Venture Partners, and Lead Edge Capital Management
Series D (2018): $115M backed by TriplePoint Venture Growth BDC and T. Rowe Price Associates
Series E (2019): $250M with participation from TriplePoint Venture Growth BDC, T. Rowe Price Associates, Technology Crossover Ventures, Bessemer Venture Partners, and Lead Edge Capital Management
Series F (2020): $400M led by Light Street Capital, TriplePoint Venture Growth BDC, TPG, Bessemer Venture Partners, G Squared, Alta Park Capital, Durable Capital Partners LP, Lead Edge Capital Management, Technology Crossover Ventures, T. Rowe Price Associates, and GREENOAKS
Stock Issuance/Offering (2021): $1B, investors not publicly disclosed
Key Investors in Toast
TPG
TPG is a global investment firm focused on managing alternative assets and supporting business growth across diverse industries, providing investment management, advisory, and capital solutions worldwide.
Bessemer Venture Partners
Bessemer Venture Partners is a venture capital firm with offices globally, established in 1911, focusing on early-stage and growth-stage investments.
Google Ventures
GV is a venture capital firm founded in 2001 that invests across multiple stages and sectors, with a focus on enterprise solutions, life sciences, consumer products, and frontier technology innovations.
What's next for Toast?
With a significant influx of capital, Toast is poised for accelerated growth and strategic development. The recent major strategic investment suggests a focus on expanding its market reach, enhancing its technological capabilities, and potentially exploring new service verticals within the restaurant technology ecosystem. This backing will likely enable Toast to further solidify its leadership position, invest in research and development for advanced features, and potentially pursue strategic acquisitions to broaden its service portfolio. The company's trajectory indicates a strong commitment to innovation and customer-centric solutions in the dynamic restaurant technology landscape.
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