TouchBistro, a Canada-based point-of-sale (POS) system vendor backed by human resources provider Recruit Holdings, picked up C$158m ($119m) in series E capital on Wednesday.
The round was led by Omers Growth Equity, the late-stage investment arm of pension fund Omers, and also featured Omers’ venture capital arm, Omers Ventures, as well as financial services firms Barclays Bank, JPMorgan Chase and Royal Bank of Canada (RBC).
BMO Capital Partners, Napier Park Financial Partners, Kensington Capital Partners and BDC IT Venture Fund, a vehicle for state-owned Business Development Bank of Canada, also contributed to the round, while RBC took part through its RBC Ventures unit.
TouchBistro has built a POS system for restaurants that offers functionality such as order taking and payment processing, as well as menu management, accounting and reporting, inventory management and rota scheduling.
The software has been installed in more than 16,000 restaurants across more than 100 countries. The series E funding will support the acquisition of complementary products and drive recruitment, technology development and international expansion efforts.
Barclays’ and JPMorgan Chase’s investments in the series E round follow agreements with TouchBistro to integrate their payment services into the platform for UK and US clients respectively.
TouchBistro has raised C$275m ($207 at current exchange rates) in funding altogether, it said. Recruit invested in a $54m series D round for the company in June 2018 that was co-led by JPMorgan Chase and Omers Ventures and backed by BDC IT Venture Fund, Napier Park and Relay Ventures.
Recruit and Napier Park co-led a $12.1m series C round for TouchBistro in mid-2017 that also featured BDC, Relay Ventures and Kensington Capital Partners. The latter three had already backed a $13m series B round that included Round13 Capital and Huff Capital the year before.
Food delivery service Just Eat had contributed to TouchBistro’s $4.8m series A round in 2015 together with Relay Ventures, Kensington Capital Partners and Different Capital.
