- General
- March 30, 2019
- 4 minutes read
Toast Raises $250 Million At $2.7 Billion Valuation
image: Toast Toast – a Boston based restaurant management startup – has raised $250 million Series E funding led by…
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| image: Toast |
Toast – a Boston based restaurant management startup – has raised $250 million Series E funding led by TCV and Tiger Global, with participation from existing investors like Bessemer Venture Partners. This comes on the heels of a $115 million round in July 2018 that valued the company at $1.4 billion. That valuation has nearly doubled with this round to $2.7 billion.
Toast has now raised some $500 million in total, according to Crunchbase data. Other notable backers include T. Rowe Price, Lead Edge Capital, Eight Roads Ventures and Generation Investment Management. The 2013 founded startup has seen some 148% growth in revenues, according to CFO Tim Barash in a statement to TechCrunch.
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| image: Toast |
Toast joins other startups like Rent the Runway, Airwallex, Casper, PayIt, Tarana Wireless, and Doctolib that have raised huge funding recently. According to TechCrunch’s post, Toast has committed some $1 billion over the next five years into R&D aimed at building more hardware and software.
TCV general partner David Yuan is joining Toast’s board as part of this funding. “….Our investment will enable Toast to extend their platform beyond point-of-sale and guest-facing technology, and in doing so, create a powerful SaaS platform with a superlative business model. We’re excited to partner with Toast as they accelerate the growth of the community they serve.” He said in a statement.
