# Toast

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/toast

- Industry: Software
- Headquarters: Boston, US
- Website: www.pos.toasttab.com
- Total disclosed funding: $846M
- Latest round: Series F (Feb 14, 2020)
- Investors on record: 14

## About

Based in Boston, US, and founded in 2011 by Aman Narang, Steve Fredette, and Jon Grimm, Toast Inc. is a restaurant management platform that serves the community of restaurants, ranging from new entrepreneurs to enterprise brands. As of 2021, the company staffs over 2000 employees across the US and Dublin, Ireland.  In 2020, Toast, Inc. raised USD 400 million in series F funding co-led by Greenoaks Capital and TPG, along with Bessemer Venture Partners and Tiger Global Management. 

The company’s products are powered by point of sale, front-of-house, back-of-house, and guest-facing technology and offers android based software services such as digital channel for online ordering and e-gift cards (Toast Now), on-demand delivery network (Toast Delivery Services), Toast Order and Pay and Toast TakeOut along with email marketing, loyalty programs, kitchen display system, self-ordering kiosks, and multi-location management. 

Toast, Inc.'s reporting and analytics software allows access to real-time sales, menu, and labour data and key business metrics on any device. Additionally, the company offers point-of-sale hardware products such as a POS terminal (Toast Flex) for guests and the kitchen, a handheld POS system for contactless payments with cards and digital wallets (Toast Go 2), and system accessories such as printers, hubs, routers, and Toast Tap. Toast also offers digital management software and a payroll and team management platform that enables the business to track hours, labour costs, timesheets, tips and taxes along with ensuring compliance with restaurant labour laws. The company’s competitors include Square Inc. and PayPal Holdings Inc.

The company earns revenue when restaurants deploy its software. According to the company’s pricing policy, all-in-one POS can be accessed by small restaurants via the starter pack at no cost, whereas the company’s essential and growth packs are priced at USD 165 per month and USD 272 per month, respectively. The company’s digital ordering solutions can be accessed via Toast Now, Toast Now Plus and Toast Now Premium priced at USD 75, USD 100 and USD 175 per month respectively. The company also offers a Toast Starter Kit that enables restaurants to access the company’s hardware, software, and payment processing solutions via the pay-as-you-go platform for 2.99% and 15 cents on every transaction. The company’s standard plans can be accessed starting at USD 799 plus USD 69 per month along with other rates for card-present payment processing, card-not-present payment processing and a POS software subscription. The company’s basic products range from about USD 70 per month to around USD 200 per month for U.S. customers.

Toast, Inc. plans to utilize the funding to extend its capabilities and support its system for the restaurant industry. As of 2021, Toast plans to raise capital through an IPO that would value the company at USD 20 billion.

## Funding rounds

- Series F, Feb 14, 2020, $400M — T Rowe Price, TCV, TPG, Bessemer Venture Partners, Tiger Global Management, Greenoaks Capital, G Squared, Light Street Capital Management, Durable Capital Partners, Alta Park Capital
- Series E, Mar 27, 2019, $250M — T Rowe Price, TCV, Bessemer Venture Partners, Tiger Global Management, Lead Edge Capital
- Series D, Jun 27, 2018, $115M — T Rowe Price, Eight Roads Ventures, Bessemer Venture Partners, Generation Investment Management, Tiger Global Management
- Series C, Jun 27, 2017, $51M — Bessemer Venture Partners, Generation Investment Management, GV, Lead Edge Capital
- Series B, Dec 23, 2015, $30M — Bessemer Venture Partners, GV

## Investors

- Bessemer Venture Partners (https://capitalatlas.ai/funds/bessemer-venture-partners) — Series B, Series C, Series D, Series E, Series F
- GV (https://capitalatlas.ai/funds/gv) — Series B, Series C
- Generation Investment Management (https://capitalatlas.ai/funds/generation-investment-management) — Series C, Series D
- Lead Edge Capital (https://capitalatlas.ai/funds/lead-edge-capital) — Series C, Series E
- T Rowe Price (https://capitalatlas.ai/funds/t-rowe-price) — Series D, Series E, Series F
- Eight Roads Ventures (https://capitalatlas.ai/funds/eight-roads-ventures) — Series D
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series D, Series E, Series F
- TCV (https://capitalatlas.ai/funds/tcv) — Series E, Series F
- TPG (https://capitalatlas.ai/funds/tpg) — Series F
- Greenoaks Capital (https://capitalatlas.ai/funds/greenoaks-capital) — Series F
- G Squared (https://capitalatlas.ai/funds/g-squared) — Series F
- Light Street Capital Management (https://capitalatlas.ai/funds/light-street-capital-management) — Series F
- Durable Capital Partners — Series F
- Alta Park Capital (https://capitalatlas.ai/funds/alta-park-capital) — Series F