Total amount raised
$228.6 Million
Latest funding date
11/1/2022
Location
TouchBistro has successfully raised funding over 8 rounds, with the latest investment coming from a Private Equity round. The company is backed by 23 investors, including notable names like Francisco Partners and OMERS Growth Equity.
Keep reading to explore the intricacies of TouchBistro's fundraising journey and the investors backing this innovative platform.
What Is TouchBistro?
TouchBistro is a private company based in Toronto, Ontario, Canada, specializing in iPad-based restaurant point-of-sale systems. The company operates in the industries of Apps, Point of Sale, Restaurants, and SaaS, and employs between 501-1000 people.
TouchBistro's platform helps restaurant owners manage reservations and take orders instantly, offering a comprehensive solution for front of house, back of house, and guest engagement. The company has raised funding over 8 rounds, with the latest being a Private Equity round, and has acquired TableUp.
How Much Funding Has TouchBistro Raised?
- Seed Round
- Amount Raised: USD 1,500,000
- Date: March 2014
- Lead Investors: Walden Venture Capital, Kensington Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early growth and manage restaurant orders for over 1,000 merchants.
- Seed Round
- Amount Raised: USD 4,500,000
- Date: November 2013
- Lead Investors: Relay Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand market presence.
- Series A
- Amount Raised: CAD 6,000,000
- Date: April 2015
- Lead Investors: Relay Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
- Series B
- Amount Raised: CAD 17,000,000
- Date: October 2016
- Lead Investors: BDC IT Venture Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve technology infrastructure.
- Series C
- Amount Raised: CAD 16,300,000
- Date: May 2017
- Lead Investors: Napier Park Global Capital, Recruit Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and support strategic growth initiatives.
- Series D
- Amount Raised: CAD 72,000,000
- Date: June 2018
- Lead Investors: JP Morgan Chase, OMERS Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Series E
- Amount Raised: CAD 158,000,000
- Date: September 2019
- Lead Investors: Barclays Corporate Banking, OMERS Growth Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support product development and strategic acquisitions.
- Private Equity
- Amount Raised: CAD 150,000,000
- Date: November 2022
- Lead Investors: Francisco Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth, expand product pipeline, and facilitate strategic acquisitions.
Total Amount Raised: USD 320,200,000. Current Valuation: Not publicly disclosed.
Key Investors
- Francisco Partners
- Details: Francisco Partners is a leading global private equity firm specializing in investments in technology and technology-enabled businesses. They have significant domain expertise and industry connections.
- Investment Focus Areas: Technology, healthcare IT, financial technology, software.
- Notable Investments: MyHeritage, Redis Labs, GoodRx.
- OMERS Growth Equity
- Details: OMERS Growth Equity is a division of OMERS, one of Canada's largest pension funds, focusing on growth equity investments in high-growth companies. They provide capital and strategic support to help companies scale.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Not publicly disclosed.
- Barclays Corporate Banking
- Details: Barclays Corporate Banking is a division of Barclays Bank, providing comprehensive financial services to businesses worldwide. They offer a range of banking solutions, including lending, risk management, and investment services.
- Investment Focus Areas: Financial services, corporate banking, investment banking.
- Notable Investments: Not publicly disclosed.
- JP Morgan Chase
- Details: JP Morgan Chase is a global financial services firm offering a wide range of investment banking, financial services, and asset management solutions. They are one of the largest banking institutions in the world.
- Investment Focus Areas: Financial services, technology, healthcare.
- Notable Investments: Not publicly disclosed.
- Relay Ventures
- Details: Relay Ventures is a venture capital firm that invests in early-stage companies. They focus on providing capital and strategic support to help startups grow and succeed.
- Investment Focus Areas: Technology, digital media, consumer services.
- Notable Investments: Not publicly disclosed.
What's Next for TouchBistro?
TouchBistro stands at the cusp of significant growth opportunities, driven by the increasing digitalization of the restaurant industry. With the global restaurant management software market projected to reach $14.7 billion by 2030, TouchBistro is well-positioned to expand its product offerings, including marketing and customer relationship management tools. The company’s recent $150 million CAD funding from Francisco Partners will enable it to enhance its platform and pursue strategic acquisitions, further solidifying its market presence.
Future fundraising opportunities appear promising as TouchBistro continues to innovate and expand its market reach. The company’s focus on integrating automated marketing, online ordering, and contactless payments aligns with industry trends, making it an attractive candidate for additional investment. Strategic partnerships and acquisitions will likely play a crucial role in enhancing TouchBistro’s technological capabilities and market position.
However, TouchBistro may face challenges such as competition from other restaurant management software providers and the need to adapt to rapidly changing technology and consumer preferences. Managing operational complexities during rapid expansion and addressing economic fluctuations in the restaurant industry will also be critical. Despite these challenges, TouchBistro’s strategic vision and recent funding position it well for continued growth and success.
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