TouchBistro bakes CAD$150M into restaurant management tech recipe TechCrunch

News Summary

  • It laid off 131 employees and introduced features such as virtual gift cards and online takeout and delivery options to help restaurants stay afloat.”However, it seems the company fought back to now serve over 16,000 restaurant customers to help them increase profitability and efficiency, while improving overall customer experience.
  • “Our vision is to become one of the most complete end-to-end restaurant management platforms, deliver best in class customer experience and help our customers be successful.”As startups whip up a restaurant tech frenzy, is anyone close to Toast?
  • Zabaneh declined to reveal TouchBistro’s valuation.Meanwhile, seeing the amount of technology adoption by the restaurant industry, the company felt it was the right time to accelerate its growth, he added.
  • “We integrated with key partners to provide our customers with best-in-class and complementary solutions, all integrated together on a single platform.”In total, the company has raised around CAD$430 million to date.
  • TouchBistro has deployed more than 64,000 of its terminals that provide automated online ordering, menu and delivery management, contactless payments, marketing and customer engagement tools.
  • The Globe and Mail reported in 2021 that the company’s “growth rate fell from about 50% to roughly 10% in 2020.
TouchBistro, an iPadbased restaurant management platform, secured CAD$150 million, or $110 million, in growth financing from Francisco Partners to accelerate its growth, expand its product pipeline [+3690 chars]