TouchBistro, a NYC- and Toronto, Canada-based provider of an iPad restaurant point-of-sale (POS) app, secured CDN$17m in Series B funding.
The round was led by BDC IT Venture Fund, with participation from new investors Round13 Capital and Huff Capital, and existing investors Relay Ventures and Kensington Capital Partners. In conjunction with the funding, Peter Misek, partner in the BDC IT Venture Fund, joined TouchBistro’s Board of Directors.
The company, which has raused $30m in total funding to date, intends to use the funds to expand sales and marketing efforts, and build out its POS platform through new partnerships with industry leaders and innovative features that deliver value to restaurants.
Led by Alex Barrotti, founder and CEO, TouchBistro provides iPad point-of-sale (POS) solutions for the food and drink industry, including full service restaurants, quick service restaurants, food trucks, coffee shops and bars. Servers use the TouchBistro iPad app to take tableside customer orders and instantly transmit them to the kitchen and bar. Bills are automatically calculated and split whatever way the patron desires, and totals are transferred electronically into an integrated card keypad or mobile wallet for payment.
The company, which offers a full suite of reports for restaurant operators, now has deployed approximately 15,000 terminals across 6,000 restaurants around the world. Its POS solutions process Gross Merchandise Volumes in excess of $4 billion annually. In the last quarter, TouchBistro launched in Spanish and French, and integrated with QuickBooks and Square.