Restaurant POS provider Toast raises $101m in a financing round

Boston-based Toast has raised $101m in a financing round led by Generation Investment Management and Lead Edge Capital.

Previous investor Bessemer Venture Partners also took part in the funding round.

Toast offers restaurants with point of sale systems, offering in range of forms including tablet platforms. The systems allows for table-side ordering and payments, a mobile POS, loyalty programs and cash management.

Users also gain access real time reporting, labour efficiency and menu performance analytics.

The capital will be used to fund the growth of its cloud platform, with development to its Toast Online Ordering platform. This round will also help to enhance its self-ordering kiosks, handheld pay-at-the-table experiences, CRM and marketing tools, advanced reporting, inventory, loyalty, among other areas.

Generation Investment Management partner Greg Wasserman said, “Toast is leading this digital shift with its powerful, yet easy-to-deploy platform that is democratizing access to best-in-class technology. With Toast, all restaurants can maximize revenue, optimize operations, digitize paper processes, reduce food waste and other costs, and ultimately deliver a superior dining experience.”

Including this latest financing, Toast has raised around $133.95m, with the company’s Series C picking up $30m early last year.

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