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Toast, a digital restaurant management platform, has raised $250 million in Series E funding led by TCV and Tiger Global Management, providing a valuation of $2.7 billion, according to a company release.
The funding round includes existing investors Bessemer Venture Partners, Lead Edge Capital, and funds managed by T Rowe Price Associates Inc.
The investment will be used to expand the Toast platform beyond its existing guest-facing and point-of-sale technology to develop a software-as-a-service platform, David Yuan, general partner at TCV, said in the release.
