TouchBistro, a Toronto, CA-based provider of an iPad POS built for restaurant, raised C$72m in Series D financing.
The round, which brings total funding to date to C$117m, was led by OMERS Ventures and JPMorgan Chase, with participation from existing investors Napier Park Financial Partners, Recruit Holdings Co, Ltd, BDC IT Venture Fund, and Relay Ventures. As part of this transaction, Damien Steel, Managing Partner of OMERS Ventures, will join the TouchBistro Board of Directors.
The company intends to use the new funds for development of the TouchBistro restaurant operating system, new payment solutions, expansion into new and existing markets, and to double the size of the team over the next year.
Led by Alex Barrotti, founder and CEO, TouchBistro provides an iPad POS to work as the core of a restaurant’s operations. It streamlines and simplifies all aspects of running a restaurant – from order taking, payment processing, menu management, accounting, reporting, inventory management, and staff scheduling, to customer loyalty.
More than 12,000 restaurants in over 100 countries use the POS today processing more than US$6 billion annually.
The company also offices in New York, Austin, Chicago, London, and Mexico City.