Toast POS Raises $115M in a Series D Round

This week Toast POS announced that it just raised a $115 million dollar Series D Round. This brings Toast’s total funding to date to almost a quarter of a billion dollars. That is a massive number even in today’s very hot market.


To justify this valuation (and assuming its new lead investor T. Rowe Price wants to triple its money), Toast would have to crush one of the incumbents in the space or several of them — Micros, Harbortouch, Digital Dining, NCR, etc. Aside from Micros, no restaurant point of sale provider we are aware of has surpassed the 55,000 merchant mark in the US.  While Toast is much less expensive that current traditional players, one would have to imagine that they would need to enter additional lines of business (lending, anyone?) to justify this growing valuation.


Toast’s growth to date has been nothing short of impressive, but they spent over $100 million in the past year to do it. The question remains, once churn catches up with them, can they keep this train rolling? The market is anxious to find out.

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