TouchBistro, a restaurant management platform transforming the restaurant category, announced the completion of CAD$150 million in growth financing from Francisco Partners, a global investment firm that specializes in partnering with technology businesses.
The funds will be used by TouchBistro “to accelerate the company’s growth initiatives, including expanding product offerings, core services, and strategic acquisitions as it continues to meet the evolving needs of its customers.”
As noted in the update:
“Over the past decade, TouchBistro has evolved from an award-winning restaurant point-of-sale solution to become a comprehensive restaurant management system that streamlines and simplifies every aspect of running a restaurant on a single platform. From reservations, online ordering, payment processing, menu management, inventory management, to accounting, staff scheduling, and marketing, TouchBistro enables restaurants to increase profitability and efficiency and improve the overall customer experience.
Samir Zabaneh, CEO and Chairman of TouchBistro, said:
“Our industry leading technology, optimized business model, and uncompromising focus on our customer experience has us well-positioned to accelerate our growth in the vast restaurant and hospitality sector throughout North America and beyond. Francisco Partners shares our enthusiasm about the growth potential for TouchBistro and our customers. In addition to providing us with access to capital, Francisco Partners also has significant domain expertise and industry connections that will enhance and accelerate our growth trajectory and acquisition plans.”
Over the past two years, TouchBistro has “enriched its platform by integrating automated marketing and customer relationship management functionality.”
The platform now “incorporates online ordering, delivery management, contactless payments, and other customer engagement tools.” TouchBistro also “expanded its executive team with highly experienced leaders to take the company to the next level.”
Peter Christodoulo, Partner and Head of Fintech at Francisco Partners, said:
“We are extremely excited to back Samir and his talented team. Our expertise in the financial technology and application software sectors makes us the perfect partner to support TouchBistro’s growth and help meet its acquisition objectives.”
Peter Gingold, a Managing Director of Credit and Structured Solutions at Francisco Partners, added:
“The TouchBistro team has done an exceptional job building and delivering an end-to-end restaurant management platform. They continuously demonstrate an impressive commitment to driving innovation that supports the needs of restaurants today and as the industry evolves into the future.”
RBC Capital Markets “served as Exclusive Placement Agent” to TouchBistro. Stikeman Elliott acted “as legal advisor” to TouchBistro. Akin Gump Strauss Hauer & Feld “acted as legal advisor” to Francisco Partners.