Innovate technology regularly comes in waves, but the restaurant industry has seen its wave get bigger and stronger in part due to the pandemic.
Startups have sprung up across the industry to help restaurants quickly change their operations to catch up, for many of their new business areas, such as accepting orders online, delivery and must create different types of relationships with customers currently dining at Home.
Toast, a restaurant-focused financial software company, remains one of the leaders in the field. The company was founded in 2011, public release at the end of 2021 in an IPO valued it at around $18 billion.
Its second quarter earnings for 2022 confirm that the near-top spot: Company speak Its revenue grew 58% year-on-year to $675 million, while narrowing its net loss to $54 million from a net loss of $135 million in the same quarter of 2021. Toast also said it is working on track to hit $2.6 billion in sales this year .