BOSTON, January 16, 2018 -- Toast, the all-in-one restaurant technology platform and one of the fastest-growing technology companies in the U.S., today reveals its 2017 Year in Review. Top 2017 findings include: Boston is the best tipping city in the US, clocking in with a 16.3 percent average tip in full service restaurants; Los Angeles is the city most likely to tip, with 80 percent of restaurant checks having a tip applied; and, late night diners are more likely to leave gratuity, with the most popular tipping time hitting between 9pm and midnight.
Toast 2017 company highlights include:
- Raising over $100 million as part of its Series C financing;
- Expanding its Boston headquarters as well as establishing both Dublin and Omaha, Nebraska locations; and,
- Graduating to the Forbes 2017 Cloud 100 in addition to being named the third fastest-growing company in North America on Deloitte’s Technology Fast 500™.
“Since joining Toast, I’ve declared ‘this was a milestone year’ every January thanks to our remarkable customers, customer service-obsessed employees, trusted partners and loyal investors,” said Chris Comparato, CEO of Toast. “In 2018, we look forward to continuously innovating our best-in-class restaurant technology and delivering the finest customer service in the business.”
Toast Restaurant POS offers advanced functionality to manage the day-to-day operations of the restaurant, including quick menu modifications, real-time enterprise reporting and labor management on an easy-to-use interface. The platform also features revenue-driving tools including physical and digital gift cards, loyalty programs and online ordering.
In 2017, Toast and its customers saw the following:
- The most popular food and drink items:
- 21,028,863 million pizzas tossed
- 14,325,884 million burgers grilled
- 8,959,298 million tacos folded
- Budweiser, Sam Adams, and Toast customer Harpoon Brewery, among others
- Key restaurant business data points:
- 40 percent of all online orders were made through a mobile device
- 8 minutes, 44 seconds is the average ticket time for quick service restaurants
- 23 minutes, 58 seconds is the average ticket time for full service restaurants
To learn more about Toast and view the full food and restaurant findings in its 2017 Year in Review infographic, see: pos.toasttab.com/toast/2017-year-in-review.
Founded by Steve Fredette, Aman Narang and Jonathan Grimm, Toast is a restaurant technology platform that enables customers to simplify and streamline all elements of their operation and deliver a better guest experience. Toast offers a mobile, cloud-based point of sale system (POS) that easily integrates with front-of-house, back-of-house, online ordering, gift card and loyalty programs, as well as labor and sales reporting. In 2017, Toast was named one of the world’s hottest cloud computing companies in the Forbes Cloud 100, announced raising over $100 million as part of its Series C financing, and, was listed as the third fastest-growing company in North America on Deloitte’s Technology Fast 500™. Learn more at www.toasttab.com.
PR and Branding Manager