Toast, the Boston-based maker of a restaurant management platform that combines restaurant POS, front of house, back of house and guest-facing technology, said on Tuesday it's joining the club of local unicorns—private companies having valuations of at least $1 billion.
The company announced it has raised $115 million, noting that the Series D round of financing values Toast at $1.4 billion.
The round was led by T. Rowe Price Associates, Inc., with participation from new investor Tiger Global Management, LLC, as well as existing investors.
One year ago, the company raised a $101 Series C round led by Al Gore’s Generation Investment Management and Lead Edge Capital, with participation of existing investors GV (formerly Google Ventures) and Bessemer Venture Partners.
The company will use the latest capital to accelerate investment in research and development, recruit new talent and expand its market presence.
Toast said it employs more than 1,000 people in over 30 states, with new offices opened in Portland, Ore. and Omaha, Neb. Headquartered in Boston, the company has an international office in Dublin, Ireland.
