Toast IPO | Enterprise Software | Founded: 2011 | Funding to Date: $858,230,093

Toast, Inc. was founded in 2013 by Amam Narang and Stephen Fredette. In an interview with Xconomy in April 2019, Fredette stated that “an IPO is not out of the question as an option for us” and that “[their] intent is to build a technology platform as a sustainable entity.” These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.

Toast develops restaurant management systems ranging from point-of-sale hardware to delivery management software. The cloud-based software allows for menu modification and online ordering integration. Toast has also announced it was launching a loan service tailored for restaurants. The company has raised nearly $900 million in Venture Capital funding from investors including Counterpart Advisors, Durable Capital Partners, Greenoaks Capital Partners, Light Street Capital Management, Riot Ventures, TCV, G Squared, Tiger Global Management, T. Rowe Price, Lead Edge Capital, Teamworthy Ventures, TriplePoint Venture Growth, Bessemer Venture Partners, and GV. Per company press releases, Toast last raised $400 million in February 2020 at a post-money valuation of nearly $5 billion.

Date of Last Funding Round February 2020
Value at Last Round $4.9 B
Amount of Last Raise $407.69 MM
Total Funding to Date $858.23 MM

ENTERPRISE VALUE (based on primary fundings)

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Mutual Funds holding Toast

  • T. Rowe Price Personal Strategy Growth Fund - May 2019

  • MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund - March 2019

  • Valic Company I Small Cap Fund - February 2019

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