Who owns Toast?

Toast is a cloud-based restaurant management software company that is based in Boston, Massachusetts. The company provides an all-in-one point-of-sale system built on Android. The company's software allows restaurants to essentially perform all aspects of their business in a single platform.

Toast is considered to be one-stop-shopping for restaurant technology and presents users with functionality including:

• Menu and labor management

• Online ordering

• Gift cards

• Loyalty programs

• Customer management

Toast is designed for use in all restaurant types, including:

• Fine dining

• Casual dining

• Bakeries

• Fast food

• Cafes

• Bars

• Nightclubs

• Enterprise groups

Toast was founded in Cambridge, Massachusetts, in 2012 by Steve Fredette, Aman Narang, and Jonathan Grimm. Within two years, the company had signed over 1,000 merchants across the United States. In 2013, Toast received investments from several executives, including the former CEO of Endeca, Steve Papa, who serves on the board.

In January 2016, Toast received $30 million in Series B funding from Bessemer Venture Partners and Google Ventures. The company continued to secure funding year after year resulting in a $400 million Series F funding in 2020.

In 2021, Toast went public with an initial public offering of $40 per share and a market capitalization of roughly $20 billion, making it one of 2021's largest American IPOs. In July 2022, Toast announced that it had acquired Sling, a communication, and management solution.

In 2021, Toast's annual revenue was reported to be $1.7 billion, and it had approximately 3,100 employees.