Toast, a Boston, MA-based provider of a restaurant management platform, raised $115m in Series D funding.
The round, which valued Toast at $1.4 billion, was led by funds and accounts advised by T. Rowe Price Associates, Inc., with participation from new investor Tiger Global Management, LLC – as well as existing investors.
The company intends to use the funds to accelerate investment in research and development, recruit new talent, and expand its market presence.
Launched in 2013 by Christopher Comparato, CEO, Toast provides restaurants of all sizes with a technology platform that combines restaurant POS, front of house, back of house and guest-facing technology with a diverse marketplace of third-party applications to streamline operations, increase revenue and deliver guest experiences.
The company now employs more than 1,000 people in over 30 states in Boston, Portland, Oregon, Omaha, Nebraska, and Dublin, Ireland.