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.
Funding Date | Share Class | Amount Raised | Price per Share | Post-Money Valuation | Key Investors | |
---|---|---|---|---|---|---|
02/14/2020 | Series F | $407.69MM | $xx.xx | $4.9B | Alta Park Capital, Bessemer Venture Partners, Durable Capital Partners, Greenoaks Capital Partners, G Squared, Light Street Capital Management, Tcv, Tiger Global Management, Tpg Capital, T. Rowe Price | |
Price per Share
$xx.xx
Shares Outstanding
44,851,275
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Alta Park Capital, Bessemer Venture Partners, Durable Capital Partners, Greenoaks Capital Partners, G Squared, Light Street Capital Management, Tcv, Tiger Global Management, Tpg Capital, T. Rowe Price
|
||||||
04/01/2019 | Series E | $250MM | $xx.xx | $2.67B | Bessemer Venture Partners, Tcv, Tiger Global Management, T. Rowe Price | |
Price per Share
$xx.xx
Shares Outstanding
45,788,025
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Bessemer Venture Partners, Tcv, Tiger Global Management, T. Rowe Price
|
||||||
07/10/2018 | Series D | $115MM | $xx.xx | $1.68B | Bessemer Venture Partners, Generation Investment Management, G Squared, Lead Edge Capital, Tiger Global Management, T. Rowe Price | |
Price per Share
$xx.xx
Shares Outstanding
33,223,530
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Bessemer Venture Partners, Generation Investment Management, G Squared, Lead Edge Capital, Tiger Global Management, T. Rowe Price
|
||||||
06/27/2017 | Series C | $54.13MM | $xx.xx | $504MM | Bessemer Venture Partners, Generation Investment Management, Gv, Lead Edge Capital, Teamworthy Ventures, Triplepoint Venture Growth | |
Price per Share
$xx.xx
Shares Outstanding
38,773,865
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Bessemer Venture Partners, Generation Investment Management, Gv, Lead Edge Capital, Teamworthy Ventures, Triplepoint Venture Growth
|
||||||
01/06/2016 | Series B | $29.91MM | $xx.xx | $125MM | Bessemer Venture Partners, Gv | |
Price per Share
$xx.xx
Shares Outstanding
76,536,695
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Bessemer Venture Partners, Gv
|
||||||
12/31/2013 | Series A | $1.5MM | $xx.xx | $10MM | Genentech, Gv, Mohr Davidow Ventures, New Enterprise Associates | |
Price per Share
$xx.xx
Shares Outstanding
18,072,290
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Genentech, Gv, Mohr Davidow Ventures, New Enterprise Associates
|