Toast Secures $115 Million in Funding
Fast-growing U.S. restaurant management platform Toast closed $115 million in Series D funding. The financing round, led by funds and accounts advised by T. Rowe Price Associates, Inc., with participation from existing investors and new investor Tiger Global Management, LLC, values Toast at $1.4 billion.
By combining a powerful Android™-based point-of-sale experience with solutions designed to increase revenue and improve restaurant operations, Toast aims to become one of the fastest-growing technology companies in North America. According to the company, revenue increased 150 percent as leading restaurants and concepts Jamba Juice, Sepia, WaBa Grill, Hattie B’s Hot Chicken, Dos Toros Taqueria, honeygrow, The Pizza Press, and B.GOOD joined restaurants across all 50 states in the Toast customer community.
Toast plans to use the funding to accelerate investment in research and development, recruit new talent, and expand its market presence.