Restaurant management platform Toast raises $250 million at $2.7 billion valuation

venturebeat.com

Boston-based POS company Toast raised a $250 million series this week at a $2.7bn valuation, up from $1.4bn and a $115m raise last July. While I'm not surprised at the need for more capital, I'm certainly surprised at the markup. Scaling POS is hand to hand combat, particularly with all the players attempting to be the operating system for the small business owner. Churn is a massive issue and often times raising capital is similar to lighting it on fire. The valuation almost doubling in such a short amount of time suggests some massive growth but the lack of any kind of customer numbers has me saying ¯\_(ツ)_/¯

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