Goodwin Procter LLP advised Toast on its $400 million Series F funding round that values the company at $4.9 billion.
The funding round was led by Bessemer Venture Partners, TPG, Greenoaks Capital, and Tiger Global Management with participation from Durable Capital Partners LP, TCV, funds and accounts advised by T. Rowe Price Associates, G Squared, Light Street Capital, Alta Park Capital, among others.
Focused on empowering restaurants of all sizes to compete on a level playing field with global brands, Toast has quickly become the go-to partner for the restaurant industry, from entrepreneurs opening their first restaurant to enterprise brands scaling across hundreds of locations. During the course of 2019, revenue increased 109 percent as tens of thousands of new restaurants joined the Toast community.
Launched in 2013, Toast is democratizing technology for restaurants of all sizes. Built exclusively for restaurants and driven by a passion to enable their success, Toast connects employees, operations, and guests on an easy-to-use platform so restaurateurs can stay one step ahead of a rapidly evolving hospitality market. Tens of thousands of restaurants partner with Toast to increase revenue, streamline operations, retain great employees, and create raving fans. Toast was named to the 2019 Forbes Fintech 50, 2019 SXSW Interactive Innovation Finals, and 2019 Forbes Cloud 100.
The Goodwin team was led by Mark Bettencourt (Picture), Gregg Katz and Andrew Pusar, and included Katherine Maxwell, Elizabeth Pion and Kristen Armstrong.
Involved fees earner: Kristen Armstrong – Goodwin Procter; Mark Bettencourt – Goodwin Procter; Gregg Katz – Goodwin Procter; Katherine Maxwell – Goodwin Procter; Elizabeth Pion – Goodwin Procter; Andrew Pusar – Goodwin Procter;
Law Firms: Goodwin Procter;
Clients: Toast, Inc.;