Restaurant management platform Toast is announcing a $115 million Series D this morning. Courtesy of T. Rowe Price Associates, the round values Toast at $1.4 billion.
Upserve recently released its State of the Restaurant Industry Report, using data pulled from thousands of restaurants and millions of transactions through the United States. Performing a retroactive analysis, Upserve’s data science team looked at 2017 trends to see which predicted trends lived up to the hype, and which fell flat.
When you look at the restaurant tech stack, there are clearly solutions, software, applications that should play nicely with each other, but the larger players have purposefully walled off their gardens. The next multi-billion-dollar company in this space will identify the mission-critical pieces of technology in the stack, and own them.