Media Coverage

Why Technology Will Never Replace Chefs and Servers

July 25, 2018 | Restaurants Canada

The intersection of technology and culinary education.  An interview with culinary educators at George Brown College on the role of technology in culinary.  George Brown College uses the TouchBistro POS both at their teaching restaurant, the Chef's House and in their simulation labs.  It is one of Canada's most respected culinary schools. There have also been many advancements on the service side of things. At George Brown College, professor Doris Miculan Bradley teaches a course called Dining Room Service where students use TouchBistro, an iPad point-of-sale (POS) to simulate the ebb and flow of a dinner service – from ringing in an order to receiving and preparing a chit – to give them a grasp of timing. At The Chef’s House and in the simulation lab, chef Li and professor Miculan Bradley use the reporting features to track sales, popularity of menu items and ingredients so they can make informed decisions when it comes to engineering their menu – a way to see what items are underperforming and overperforming in order to make the necessary changes in real-time.

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Behind-the-scenes of the big Gordon Ramsay television shoot at Fetch Bistro

July 18, 2018 | Wichita Eagle

Ramsay installed a point-of-sale system by TouchBistro (the Busses had previously been using pen and paper to track their sales) and he pared the menu way down, adding several new dishes with a Ramsay touch. The crew also turned a bocce ball court next to the restaurant into a state-of–the-art dog park with turf. They also put in a photo booth where people and their pets could pose for snapshots together.

The changes Ramsay made have helped them already, Greg said, especially the point-of-sale system and the menu refinement.

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A Preventative Measurement

July 16, 2018 | Reinhart Foodservice

Today’s restaurant POS systems data can be as good as video surveillance for preventing employee theft or tracking inventory loss. “I use TouchBistro (POS system) to help streamline our front-and back-of-house operations,” says Charles Dampf, managing partner of the Birmingham, Ala.-based Fourth Earl Hospitality. “To improve employee management, I use the time clock and track daily labor percentage, as well as the discount and void report, and the weekly sales target report. If there is a large void I am not familiar with in the report, I’ll research it to make sure it’s valid and there is no theft occurring.”

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TouchBistro Raises $54M USD

June 25, 2018 | Hospitality Tech

TouchBistro raised $54 million in Series D financing. The new funds will be used to support development of the next generation TouchBistro restaurant operating system, development of new payment solutions, expansion into new and existing markets, and to double the size of the team over the next year. This latest round brings TouchBistro’s total funding to date to $88 million. TouchBistro is an award-winning iPad POS built from the ground up to work as the heart of a restaurant’s operations. It streamlines and simplifies all aspects of running a restaurant – from order taking, payment processing, menu management, accounting, reporting, inventory management, and staff scheduling, to customer loyalty. More than 12,000 restaurants in over 100 countries use the POS today and the company has grown its recurring monthly revenue by 58 percent over the last year. TouchBistro POS solutions process more than $6 billion annually.

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TouchBistro Raises $72 Million Series D Round

June 21, 2018 | BetaKit

Toronto-based TouchBistro, which develops an iPad-based PoS app for restaurants, has announced a $72 million Series D. The round was led by OMERS Ventures and JPMorgan Chase, with participation from Napier Park Financial Partners, Recruit Holdings, BDC IT Venture Fund, and Relay Ventures. TouchBistro’s iPad POS platform allows restaurants to enter tableside orders and send them directly to the kitchen, while also providing information on upsell opportunities. Integrated EMV payments can also be taken at the table, which includes bill-splitting features. TouchBistro said it plans to use the funding to develop the next generation of its platform. The funding will also be used to develop new payment solutions, expand into new and existing markets, and double the size of the team over the next year.

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TouchBistro Finalizes $72 Million Series D Round

June 21, 2018 | Tech Vibes

Massive funding rounds continue to dominate 2018 as a leading POS system has locked down a massive amount of capital. TouchBistro has raised a $72 million Series D financing round, led by OMERS Ventures and JPMorgan Chase. The round also featured participation from participation from existing investors, including Napier Park Financial Partners, Recruit Holdings, BDC IT Venture Fund, and Relay Ventures. This funding values TouchBistro at approximately $200 million. The Toronto-based TouchBistro is an iPad-based POS system that can integrate into almost any restaurant. The platform handles orders, payments, menu management, accounting, reporting, inventory, and even staff management. So far, over 12,000 restaurants use TouchBistro in over 100 countries. In total, the company’s POS platform processes more than $6 billion in sales each year, which represents a 58 per cent growth from just last year. “With this injection of capital, TouchBistro is incredibly well positioned to execute on our growth strategy,” said Alex Barrotti, founder and CEO of TouchBistro. “This fundraising will allow us to develop a whole new level of financial products and services integrations that greatly benefit both our restaurants and Chase customers alike.”

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Dining tech app TouchBistro snags funds from JPMorgan Chase, others

June 21, 2018 | New York Business Journal

Who gets: Restaurant operating system TouchBistro, known of its point-of-sale (POS) tech, raised a new round of funding. Amount raised: The Toronto-based startup, which has a New York office in Midtown Manhattan, secured C$72 million (US$54 million) in series D financing. This latest round brings TouchBistro's total funding to date to C$117 million (US$88 million). Who invests: The round was led by Omers Ventures and New York-based JPMorgan Chase (NYSE: JPM), with participation from existing investors, including Napier Park Financial Partners, Recruit Holdings Co, Ltd, BDC IT Venture Fund, and Relay Ventures. As part of this transaction, Omers partner Damien Steel will join the TouchBistro Board of Directors.

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TouchBistro secures $72M Series D led by OMERS Ventures and JPMorgan Chase

June 21, 2018 | Private Capital Journal

TouchBistro has raised $72 million in Series D financing led by OMERS Ventures and JPMorgan Chase, with participation from existing investors, Napier Park Financial Partners, Recruit Holdings Co, Ltd, BDC Capital, Relay Ventures and others. This latest round brings TouchBistro’s total funding to date to $117 million. Damien Steel, Managing Partner of OMERS Ventures, will join the TouchBistro Board of Directors. TouchBistro intends to use new funds for R&D, to support the company’s expansion into new and existing markets, and to double its headcount over next year.

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OMERS Ventures, JPMorgan lead TouchBistro’s $72 mln Series D

June 21, 2018 | PE Hub

Toronto-based restaurant point-of-sale software provider TouchBistro has closed a C$72 million Series D financing. The round, which brings the company’s total funding to date to C$117 million, was led by OMERS Ventures and JPMorgan Chase. They were joined by Napier Park Financial Partners, Recruit Holdings Co Ltd, BDC Capital‘s IT Venture Fund and Relay Ventures, all of which backed last year’s C$16.3 million Series C financing. With the Series D, OMERS Ventures Managing Partner Damien Steel will join the board.

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TouchBistro nears OMERS-led investment valuing startup at $200M

June 14, 2018 | BNN Bloomberg

TouchBistro Inc., a Toronto-based startup that provides restaurants with specialized point-of-sale software, is close to raising an additional $70 million in a new financing round, according to multiple sources familiar with the matter. The new financing deal values TouchBistro at about $200 million and is led by OMERS Ventures, the venture-capital arm of the Ontario Municipal Employees Retirement System pension fund, the sources told BNN Bloomberg. “For a startup that’s leading the market in point-of-sale and on the [iTunes] app store, this financing is a big deal,” one of the sources said in an interview. “For someone like OMERS to put money in, it legitimizes the company.”

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