Toast

Toast commands the restaurant tech space with a $12 billion market cap, serving 120,000 US locations and processing $120 billion in annualized gross payment volume. Founded in 2011 in Boston, it is cheaper than the typical rival POS provider, with a 30% lower total cost of ownership for restaurants compared to competitors like Square. Its 2021 IPO at a $20 billion valuation validated the vertical software-plus-payments model, and Toast now powers ordering, payroll, and scheduling for 15% of all US restaurants, delivering a 25% faster table turn time for operators.