Total amount raised
$228.6 Millions
Latest funding date
11/1/2022
Location
TouchBistro has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The company offers a comprehensive iPad-based restaurant point-of-sale (POS) system designed to streamline operations for restaurant owners.
Keep reading to explore the intricacies of TouchBistro's fundraising journey and the investors backing this innovative platform.
What Is TouchBistro?
TouchBistro, founded in 2010 by Alex Barrotti and Geordie Konrad, is headquartered in Toronto, Ontario, Canada. The company specializes in providing an iPad-based restaurant point-of-sale (POS) system that streamlines operations for restaurant owners.
With a workforce of 501-1000 employees, TouchBistro offers a comprehensive platform that includes menu management, sales tracking, staff management, and payment solutions. The system is designed to enhance efficiency and improve the overall dining experience.
TouchBistro's innovative solutions allow servers to take orders and manage reservations instantly, reducing errors and increasing customer satisfaction. The company continues to grow, attracting significant investment and expanding its market presence.
How Much Funding Has TouchBistro Raised?
- Seed Round
- Amount Raised: $4.5M
- Date: October 2013
- Lead Investors: Relay Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and enter the market.
- Seed Round
- Amount Raised: $1.5M
- Date: March 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further product development and early market expansion.
- Series A
- Amount Raised: $6M
- 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: $17M
- 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: $16.3M
- Date: May 2017
- Lead Investors: Napier Park Global Capital, Recruit Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance product offerings.
- Series D
- Amount Raised: $72M
- Date: June 2018
- Lead Investors: JP Morgan Chase, OMERS Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand internationally and develop new features.
- Series E
- Amount Raised: $158M
- Date: September 2019
- Lead Investors: Barclays Corporate Banking, OMERS Growth Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance customer experience.
- Private Equity Round
- Amount Raised: $110M
- Date: November 2022
- Lead Investors: Francisco Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth initiatives, expand product offerings, and pursue strategic acquisitions.
Total Amount Raised: $385.3M. Current Valuation: Not publicly disclosed.
Key Investors
- Francisco Partners
- Details: Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled businesses. They have a strong track record of partnering with companies to drive growth and innovation.
- Investment Focus Areas: Technology, financial technology, application software.
- Notable Investments: BeyondTrust, GoodRx, Redis Labs.
- OMERS Growth Equity
- Details: OMERS Growth Equity is a division of OMERS, one of Canada's largest defined benefit pension plans. They focus on growth equity investments in high-potential companies.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Coveo, Purpose Financial, PointClickCare.
- Relay Ventures
- Details: Relay Ventures is an early-stage venture capital firm that invests in innovative technology companies. They have a strong focus on mobile computing and related technologies.
- Investment Focus Areas: Mobile computing, enterprise software, financial technology.
- Notable Investments: Ecobee, League, Ritual.
- BDC IT Venture Fund
- Details: BDC IT Venture Fund is part of the Business Development Bank of Canada, focusing on early to mid-stage technology companies. They provide both capital and strategic support to their portfolio companies.
- Investment Focus Areas: Information technology, software, digital media.
- Notable Investments: Hopper, Lightspeed, Verafin.
- Napier Park Global Capital
- Details: Napier Park Global Capital is an alternative asset management firm that invests across various asset classes, including private equity and credit. They focus on delivering innovative investment solutions.
- Investment Focus Areas: Financial services, technology, healthcare.
- Notable Investments: LendingClub, OnDeck, Prosper Marketplace.
What's Next for TouchBistro?
TouchBistro stands at the cusp of significant growth opportunities, driven by its recent CAD 150 million funding. The company plans to expand its product offerings and enhance core services, leveraging strategic acquisitions to broaden its capabilities. With the restaurant industry increasingly adopting digital solutions, TouchBistro is well-positioned to capitalize on trends like online ordering, delivery management, and contactless payments.
Future fundraising efforts seem likely as TouchBistro continues to scale. The partnership with Francisco Partners provides a solid foundation for potential additional capital to support further growth and acquisitions. However, the company may face challenges such as intense competition, integration complexities, and keeping pace with rapid technological advancements.
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