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Restaurant Management Platform Toast Gains $250 Million Funding

Restaurant Management Platform Toast Gains $250 Million Funding
Credit: toasttab.com

Toast raised $250 million in Series E funding at a $2.7 billion valuation. The round was led by TCV and Tiger Global Management, along with participation from existing investors Bessemer Venture Partners, Lead Edge Capital, and funds and accounts managed by T. Rowe Price Associates, Inc.

According to the company, revenue increased 148 percent in 2018 as the number of restaurants that selected Toast doubled. José Andrés’ ThinkFoodGroup, and Tartine Bakery chose Toast, in addition to high-growth concepts Joe Coffee Company, Eggs Up Grill, JACKS Urban Eats, and The County Line.