Restaurant management platform Toast has reached $4.9bn valuation.
In Brief:
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This follows a $400mn Series F funding round.
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The round was led by Bessemer Venture Partners, TPG, Greenoaks Capital and Tiger Global Management.
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Tens of thousands of restaurants joined the platform last year.
What does this mean?
Toast aims to create a level playing field for restaurants so they can compete with global brands. The new funding will be used for its technology platform, including the development of new products, hardware and software investment, and financial products that provide quick and reliable funding.
