Excited to Welcome Alex Barrotti & TouchBistro into the OMERS Ventures portfolio!
Announced on June 21: TouchBistro Raises $72 million
We are witnessing an incredible transformation of one of the world’s largest industries: restaurant and food services. The mobile revolution has made it possible to have handheld point-of-sale (POS) devices in every restaurant, bar and café around the world. This industry, representing millions of businesses, is increasingly adopting software solutions to deliver efficient and superior customer experience within venues globally.
TouchBistro is a leading mobile POS solution used by over 12,000 restaurants globally. Our investment thesis is driven by the consumerization of software, proliferation of mobile devices, rising consumer appetite for dining out, and the digitization of traditional services industries.
The confluence of these trends is driving the growth of the global restaurant POS and software market and we believe TouchBistro is well positioned to lead the next phase for this category.
As such, we are incredibly excited to partner with Alex Barrotti who is a serial entrepreneur and one of Canada’s most prominent CEOs. TouchBistro’s senior leadership team has defied incumbents and new entrants to build a world class business in a large and fragmented industry. The $72 million financing will help them accelerate their product development and sales efforts to continue to drive immense value for their customers and partners.
We look forward to working with TouchBistro as it expands its innovative suite of applications and becomes the core operating system for restaurants. Software is truly eating the world (no pun intended).
