provides Android based mobile POS system to the catering industry Toast has just announced the acquisition of $30 million B round of financing.
Toast is a mobile point of sale management system to provide a start-up enterprise, founded in 2011, headquartered in Boston. Its POS system uses the convenience of tablet and smart phones, based on Android, such as POS management updates, orders, payment and other functions. In addition to the POS function, the system for restaurants, cafes, bars, nightclubs and other industry integrates a variety of solutions, such as by adding gift cards to improve customer loyalty, the background through the mobile terminal to provide human resources and sales report etc..
claims that its system of customer composite annual growth rate of 400%, currently in the United States has a total of more than 1 thousand and 400 States, including Costa Vida, Beach Hut Deli and other food chain.
based on Android, for the catering industry, highly customizable and focus on customer care is a unique advantage of Toast relative to the traditional POS system. But the company is still facing competition in the field of Square Stand, Revel Systems and Clover. Domestic similar intelligent POS with Palm Bay, micro panorama, Wang Pu, help customers love Shi, Wang POS, clouds, silver box and Poynt etc..
this round of financing led by Bessemer Venture investment, the original investor GV (original Google Ventures) and so on with the vote. After this round of financing, the total financing of $37 million. This round of financing proceeds will be used for recruitment (more than 170 employees), product upgrades (recent plans to enhance API and online order plug-in development) and marketing.