Restaurant POS specialist, Toast, has nailed $30 million in second round funding led by Bessemer Venture Partners with help from GV (formerly Google Ventures), and private investors.
Toast experienced exponential growth this past year. The company recently announced the signing of 1,000 customers in five quarters, and its deployment to fast casual restaurant chain Costa Vida, which operates in over 75 locations.
Toast’s customers span every foodservice vertical, from fine dining to cafe to pizzeria to nightclub, and an increasing number of enterprise groups have chosen Toast for hundreds of locations in the past year. Beach Hut Deli, a 40-location full service chain on the West coast, was one of Toast’s earliest chain customers, choosing the platform for its full software-as-a-service suite of tools and commitment to customer success.
The Android POS platform sets Toast apart from the rest of the market, and this technology choice is no accident. Android offers the flexibility, customizability, and durability for both software and hardware to stand up to the demanding restaurant environment. Toast looks forward to working with Rich Miner, co-founder of Android and general partner at GV, who led the investment for the fund.
Toast was founded by three entrepreneurial MIT graduates, Steve Fredette, Aman Narang, and Jon Grimm, who met at Boston-based enterprise software company, Endeca.
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