Toast, Inc.
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Acquisitions
3
Total Acquisitions
$130M
Disclosed Deal Value
2023
$35M
Acquired the leading provider of digital drive-thru display systems and order confirmation technology.
Accelerated Toast's expansion into quick-service drive-thru restaurant chains.
Integrated into Toast Drive-Thru.
2022
$45M
Acquired the leading employee scheduling and labor communication platform.
Provided restaurant operators with shift scheduling, labor budget tracking, and real-time team messaging.
Integrated as Toast Scheduling.
2021
$50M
Acquired the automated restaurant inventory management and food cost tracking platform.
Allowed Toast restaurants to track real-time ingredient costs, automate accounts payable, and manage supplier invoices.
Integrated directly into Toast's back-office software suite.
Toast's multi-year corporate expansion strategy focuses on four massive commercial growth pillars: First, international geographic expansion, scaling localized restaurant hardware and payment processing across the United Kingdom, Canada, and Western Europe. Second, enterprise restaurant and multi-unit franchise expansion, signing regional and national corporate restaurant chains with 50 to 500+ locations. Third, expanding specialized non-restaurant vertical hospitality markets, including hotel food-and-beverage operations, country clubs, entertainment venues, and food halls. Fourth, accelerating Toast AI and automated kitchen logistics, deploying predictive order throttling and automated labor scheduling to optimize restaurant operating margins.
Toast operates a powerful, highly lucrative multi-engine commercial business model characterized by exceptional net expansion and sustained GAAP net income across restaurant cohorts. Its commercial revenue engine spans four core pillars: First, financial technology solutions (payment processing net-take fees), capturing high-margin transactional revenue across more than $140 billion in annualized Gross Payment Volume (GPV) swiped across Toast terminals. Second, subscription software services ($79 to $165+/terminal/month), charging recurring SaaS fees for core POS software, Kitchen Display Systems (KDS), Toast Tables reservations, and inventory management. Third, Toast Payroll & Team Management subscriptions, charging monthly base fees plus per-employee fees for specialized restaurant tip-pooling and split-shift wage compliance. Fourth, Toast Capital financing fees, earning origination fees on automated merchant cash advances ($5k to $300k) repaid via daily card sales.
Toast, Inc. has completed approximately 3 corporate acquisitions on record.
When evaluating M&A targets, Toast, Inc. prioritizes complementary technology, specialized engineering talent, and immediate synergies that support workflow automation.
Acquisitions enable Toast, Inc. to absorb critical capabilities faster than building in-house, accelerating its time-to-market across Restaurant Management Software, Cloud Point of Sale (POS) & Restaurant Fintech.