TouchBistro

TouchBistro

April 14, 2015 07:00 ET

TouchBistro Raises $6 Million; Now Transacting Over $1B Annually

Latest round includes investments from Kensington Capital Partners, Relay Ventures, and Difference Capital; JUST EAT joins as a Strategic Investor

TORONTO, ONTARIO and NEW YORK, NEW YORK--(Marketwired - April 14, 2015) - TouchBistro today announced that it has closed $6 million in Series A funding from Kensington Capital Partners, Relay Ventures, Difference Capital, and a new strategic investor JUST EAT, among others. This latest round brings TouchBistro's total funding to date to approximately $12M.

Included in this round of funding is a strategic investment from UK-based JUST EAT - the world's leading online marketplace for restaurant delivery with 45,700 outlets and over 8M active users. TouchBistro and JUST EAT will enhance their respective offering to restaurants to better integrate online orders with the restaurant point-of-sale (POS) system.

TouchBistro has also hit a major growth milestone, with customers now transacting over $1B annually through the TouchBistro mobile POS solution.

"We will take TouchBistro's global expansion to an entirely new level with this latest round of funding," says Alex Barrotti, CEO of TouchBistro. "We are delighted to have the continued support of our previous investors for our latest round, and are particularly excited to have JUST EAT involved as a new strategic investor. We believe that TouchBistro and JUST EAT individually provide restaurants with great services, but that an integrated solution makes for a much better customer experience."

"TouchBistro offers a level of customer focus with comprehensive yet simple-to-use point of sale features that are exactly what food service providers need to streamline operations and ensure their customers love their takeaway experiences," says Todd Masse, Managing Director at JUST EAT Canada. "We are enthusiastic about introducing TouchBistro to our restaurant customers across the globe that share this mission."

TouchBistro is a leading provider of innovative iPad mobile point-of-sale (POS) solutions for the food and drink industry, including full service restaurants, quick service restaurants, food trucks, coffee shops, bars, universities, and hospitality venues. In the last year TouchBistro has opened an office in New York, almost tripled its customer base, was recognized as the top grossing food and beverage app on the iTunes App Store in 33 countries, collaborated with some very successful consumer services including OpenTable and Uber, and has established itself as a trend leader in the deployment and adoption of mobile payments such as PayPal Pay-at-Table and Apple Pay.

According to the 2015 POS Software Trends Report poll of restaurant operators about the major business drivers influencing POS technology, more than half want a solution that can accept new mobile payment options. Restaurateurs also want mobile POS solutions, rather than static, hardwired POS terminals, due to the demand from device-minded customers.

In the past year, TouchBistro continued its commitment to customer satisfaction and meeting market demands by investing in new technology, adding the latest mobile payment options and a customer-facing interface. Barrotti added, "In the coming year, we will continue building out the functionality of our mobile POS solution, with a focus on mobile wallets, integration with popular apps that offer consumers more conveniences, and extending the unique back- and front-of-house functionality required by food and beverage services to improve efficiency."

TouchBistro brings mobile innovation to the food and beverage industry, providing a modern point-of-sale solution that is easy to use, packed with smart features, integrated with different payment processing options, and at a lower cost. Servers use the TouchBistro iPad app to take tableside customer orders and instantly submit them to the kitchen and bartender. Bills are automatically calculated and split whatever way the patron desires, and bill totals are transferred electronically into an integrated card keypad or mobile wallet for payment. This minimizes order errors and increases operations efficiency. With TouchBistro POS, restaurateurs are better equipped to deliver a superior experience to their customers.

About TouchBistro

With offices in New York and Toronto, TouchBistro is a leader in iPad restaurant 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 33 countries on the Apple® App Store(SM). TouchBistro offers a 28-day free trial that can be converted to a monthly, quarterly or annual subscription. Additional information is available at www.touchbistro.com.

About JUST EAT Canada

With headquarters in Toronto, Ontario, JUST EAT Canada is the nation's largest and fastest-growing online restaurant and food ordering service. The JUST-EAT.ca website and new mobile app enables local restaurants and customers to connect, offering two quick-and-easy platforms for ordering food delivery. There are currently 4500+ restaurants online with JUST-EAT.ca in major cities like Toronto, Vancouver, Calgary, Edmonton, Montreal, Ottawa, Winnipeg and Regina. The JUST EAT Group was founded in Denmark in 2001, is now headquartered in London, UK and is listed on the London Stock Exchange. www.JUST-EAT.ca

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