Toast IPO

pos.toasttab.comEnterprise SoftwareFounded: 2011Funding to Date: $858.23MM

Toast, Inc. was founded in 2013 by Amam Narang and Stephen Fredette. In an interview with Xconomy in April 2019, Fredette stated that β€œan IPO is not out of the question as an option for us” and that β€œ[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.

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Valuation

Date of Last Funding Round

February 2020

Amount Last Raised

$4.9 B

Value at Last Round

$407.69 MM

Total Funding to Date

$858.23 MM

Enterprise Value (based on primary financings)