The Company
Toast, Inc. is a Boston-based company that provides cloud-based restaurant management software. Founded in 2012, Toast offers an all-in-one point-of-sale (POS) system built on the Android operating system, designed to streamline various aspects of restaurant operations.
Financials
TAM / CAGR
The global restaurant management software market was estimated at $5.79 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 17.4% from 2025 to 2030.
Products
Toast offers a comprehensive suite of products and services for restaurants. Below is a breakdown of their offerings:
| Product/Service | Description |
|---|---|
| Point-of-Sale (POS) Systems | Hardware and software solutions for order and payment processing |
| Payment Processing | Integrated payment solutions, including contactless payments |
| Digital Ordering and Delivery | Online ordering platforms and delivery management tools |
| Marketing and Loyalty Programs | Tools for customer engagement, promotions, and loyalty rewards |
| Employee Management | Scheduling, payroll, and team management solutions |
Customers
As of the third quarter of 2024, Toast serves nearly 127,000 restaurant locations across the United States, ranging from small independent eateries to larger restaurant chains.
Competitors
Toast operates in a competitive landscape with several key players offering similar products:
| Competitor | Competing Products |
|---|---|
| Square (Block) | Point-of-sale systems, payment processing, and business management tools |
| Clover (Fiserv) | POS systems, payment solutions, and business management services |
| TouchBistro | iPad-based POS systems and integrated restaurant management solutions |
Main Investors
Toast has attracted investments from several prominent firms. Below is a list of some of the main investors and their percentage holdings:
| Investor |
|---|
| Bessemer Venture Partners |
| Tiger Global Management |
| TPG |
| T. Rowe Price |
| Technology Crossover Ventures |
Founding History
Toast was founded in 2012 by Steve Fredette, Aman Narang, and Jonathan Grimm. The founders initially developed a consumer app focused on mobile payments and customer loyalty, which integrated with existing restaurant POS systems. Recognizing the need for more integrated solutions, they pivoted to create a comprehensive restaurant management platform, leading to the establishment of Toast as it is known today.
Invest Alpha 