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“We enable restaurants to deliver fantastic experiences to guests , freeing up their time and energy to do more of what they love ”

Following a turbulent few years , restaurants are under pressure to move with consumer habits and offer fantastic experiences online and off . Toast is one of the companies helping them do it f you lived on planet Earth during the pandemic – or any time since , for that matter – chances are you ordered in . With restaurants shuttered and social distancing rules in place , many of us took advantage of the speed and convenience of food delivery . It ’ s a growing trend and a market that ’ s expected to be worth as much as US $ 430bn globally by 2030 .

Along with the rapid rise of digital payments , it is one of the consumer demands that is driving a technological revolution in the restaurant business . One company that is helping to serve restaurants and meet those needs is Bostonbased Toast , which has been on an astronomical ascent since it was founded in 2011 . The company has raised more than US $ 900m in funding since the beginning of 2015 – during which time it has been led by one man .

Consumers are dining out more again Chris Comparato has an extensive background leading high-growth SaaS companies , which explains why he was such a good fit for the top job at Toast when he was appointed in February 2015 . Before Toast , he led all customer success functions at Acquia and Endeca , as well as roles at consulting firms Keane and Cambridge Technology Partners .

When the COVID-19 pandemic hit , Toast was doing well . Revenue had increased by more than 100 % year-on-year , and the firm had just raised US $ 400m in its largest funding round to date led by the likes of Bessemer Venture Partners and Tiger Global Management . It was a stern test – not just for Toast , but for its merchants too , who were already having to adapt rapidly to dining habits in constant flux .

20 fintechmagazine . com | June 2023