February 19, 2020
Toast Inc., which makes point-of-sale technology for restaurants, raised $400 million at a $4.9 billion valuation in a fundraising round led by investors including Bessemer Venture Partners and TPG.
Other investors that led the funding round are Tiger Global Management and Greenoaks Capital, according to a statement.
Toast’s new valuation is a leap from $2.7 billion in April when it raised $250 million in April. Toast said it would use the money to invest in its technology and fund research and development.
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