Toast introduced Payroll & Team Management solution for restaurants. Credit: Business Wire.

US-based restaurant management technology firm Toast has acquired Human Resource (HR) and payroll software provider for restaurants StratEx.

StratEx offers HR software and consulting services enabling restaurants to automate applicant tracking, scheduling, payroll, benefits, and labour law compliance.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Toast CEO Chris Comparato said: “At Toast, we know that for a restaurant to be successful it often starts with recruiting and retaining a great team, yet many restaurants wrestle with employee turnover that can exceed 70%.

“By adding StratEx to the Toast Platform, we can better support restaurants of all sizes in simplifying HR, payroll, and talent management on a platform that works seamlessly with Toast and our technology partner ecosystem.”

As the transaction is complete, Toast has integrated StratEx’s platform into its Payroll & Team Management solution.

Toast launched its payroll and HR solution in May this year to enable restaurant operators to manage payroll and employees by automating payroll, streamlining on-boarding, and reducing compliance risk.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

StratEx CEO Adam Ochstein said: “We’re passionate about the restaurant industry and helping our community of restaurateurs succeed in today’s dynamic – and often challenging – labour market.

“In Toast we discovered a partner that is equally as passionate about the restaurant community. Joining forces allows us to accelerate investments in our platform and build new employee-facing products that will allow restaurants running on Toast to attract, hire, and retain great teams.”

Toast raised $250m in a Series E funding round led by TCV and Tiger Global Management to expand its platform in April this year.