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Toast, a provider of tools for restaurants to manage their business, is raising a big round of funding:
>Now Toast is a business valued at $1.4 billion, thanks to a fresh infusion of $115 million in its latest round of funding. At its core, Toast is a point-of-sale for restaurants, though over time itβs added more and more services on top of that. Now the goal is to be not just a point of sale, but offer a whole system to help restaurants operate efficiently. That can range from the actual point of sale all the way to loyalty programs and reporting on that information. The round was led by T. Rowe Price Associates, with participation from new investor Tiger Global Management and other existing investors.
Toast started off in 2011 as a point-of-sale business. Now, it has grown into a company that offers a complete package of tools that help restaurants streamline both the front and back house of the restaurant.
>Toast collects more and more data on how restaurants are using its tools β like any startup with a lot of inbound data, really β it can start helping those restaurants figure out how to improve their businesses further. That might be modifying menus slightly based on what people are enjoying, or pointing them in the right direction as to when to make slight adjustments to their basic operations.
It's amazing how the internet and technology backed by crowdfunding could make a business out of a sheer idea. Who would think that a business such as Toast would be viable? [More here](https://techcrunch.com/2018/07/10/toast-raises-115m-at-a-1-4b-valuation-to-create-a-one-stop-management-tool-for-restaurants/)