Restaurant Technology Company Toast Closes $101 Million

Toast completed $101 million in financing. Three investors participated in the round: Generation Investment Management, Lead Edge Capital, and Bessemer Venture Partners.

Toast is a mobile point-of-sale system for restaurants, cafes, bars and nightclubs and aims to provide the most affordable and fully-featured business management solution on the market. Its system is a comprehensive, scalable solution for food-service and hospitality operators, offering table-side service, real-time reporting from anywhere, insights into labor efficiency and menu performance, a true offline mode, integrated online ordering, built-in customer relationship management tools, digital receipts with customer engagement, gift cards, integrated loyalty program, and more.

In its announcement, the company said Toast plans to use the new funds to continue expanding and building out its cloud platform.