Toast Closes $115 Million Series D to Advance Its POS System
Photo Caption: Toast's newest hardware, the handheld Toast Go POS device Toast
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There's a great "unicorn Toast" joke in here somewhere, but mostly this investment in a relatively young restaurant technology company underscores the value that both investors and restaurants are placing on connected, modern, and agile software to run competitive and profitable businesses.
Toast, the five-year-old restaurant point of sale (POS) system, announced a $115 series D round at a valuation of $1.4 billion. Toast plans to accelerate research and development on its products, including its newest product, the handheld Toast Go system, which launched in May of this year. The round was led by funds and accounts advised by T. Rowe Price Associates, Inc., with participation from new investor Tiger Global Management, LLC and existing investors.
"The demand for what we’re doing has been really strong, and so for us this round was really about doubling down across the board but especially in [research and deve
