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Independent Restaurants Running on Toast's All-in-One Platform Outperform Peers by up to 30% During PandemicToast, the fastest-growing restaurant management platform, today announced the 2020 results of its investments in the restaurant community. During the pandemic, Toast took steps to support the industry through rapid product innovation, advocacy on Capitol Hill for restaurant financial relief, and dedicated recovery efforts through more than $40 million in software relief and access to working capital loans for the Toast community. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210202005235/en/ Independent Restaurants Running on Toast's All-in-One Platform Outperform Peers by up to 30% During Pandemic (Photo: Business Wire) These actions helped restaurants innovate, navigate the COVID-19 health crisis, and deliver new experiences to meet rapidly changing guest expectations. As a result, Toast's customer community grew to over 40,000 restaurant locations and recurring revenue increased by 70 percent in 2020. "While 2020 was an incredibly challenging year for our restaurant community, we focused our efforts at Toast on providing restaurants with access to the technology, advice, and relief they needed to delight guests, do what they love, and survive a challenging year," said Chris Comparato, CEO at Toast. "As we look ahead to 2021, we remain focused on providing restaurants of all sizes with access to the technology they need to compete with major brands, reimagine their business models, and safely welcome guests back to their restaurants during the year." Toast and the Restaurant Community: Growth in 2020 From March to December, 2020, Toast processed nearly 50 million guest orders through Toast digital ordering platforms. Additionally:
With nearly 70 percent of Toast employees coming from the restaurant industry, the company is deeply committed to addressing the challenges that restaurateurs face in running their businesses. As a result, key activities in 2020 focused on lifting up the restaurant community through efforts including:
Restaurant owners and operators can learn more about Toast and schedule a personalized demo here. About Toast Launched in 2013, Toast is democratizing technology for restaurants of all sizes. Built exclusively for restaurants and driven by a passion to enable their success, Toast connects employees, operations, and guests on an easy-to-use platform so restaurateurs can stay one step ahead of a rapidly evolving hospitality market. Tens of thousands of restaurants partner with Toast to increase revenue, streamline operations, retain great employees, and create raving fans. Toast was named to Fortune's 2020 Best Workplaces in Technology, 2020 Forbes Fintech 50, 2020 Forbes Cloud 100, Ernst & Young's Entrepreneur Of The Year® 2020 Listing - National Overall Winner, and the 2019 SXSW (News - Alert) Interactive Innovation Finals. Learn more at www.toasttab.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210202005235/en/ |