TouchBistro today announced that it has secured CDN $17 million in Series B funding led by the BDC IT Venture Fund.
With offices in New York and Toronto, TouchBistro is a leader in iPad point-of-sale technology for restaurants, cafes, bars, food trucks, and other food and drink venues. The TouchBistro app has been ranked as the number one top-grossing food and beverage app in 37 countries on the Apple App Store.
In addition to BDC, this Series B funding round also included new investors Round13 Capital and Huff Capital, and existing investors Relay Ventures and Kensington Capital Partners. This latest round brings TouchBistro’s total funding to date to $30 million.
TouchBistro has experienced significant month-over-month growth over the past year, and now has deployed approximately 15,000 terminals across 6,000 restaurants around the world. TouchBistro’s POS solutions process Gross Merchandise Volumes in excess of $4 billion annually.
“This latest round of funding enables us to further amplify our growth by expanding our focus on sales and marketing, and by building out our POS platform through new partnerships with industry leaders and by integrating innovative features that deliver value to restaurants,” said Alex Barrotti, founder and CEO of TouchBistro.
“Our investors share our vision to provide the most innovative, comprehensive, and easy-to-use POS for the restaurant industry. Their continued support positions us to achieve long term success.”