Toast: Built to Serve
In the following case study, we interivew Toast’s SVP of Product, Matt Kaplan, about his approach to multi-product and control points.
Toast, the subject of today’s case study, is a multi-billion dollar Vertical SaaS company with a singular focus on serving the restaurant. Toast belongs in the pantheon of software companies. It is live in 57k+ locations in the U.S., went from 0 to 500M+ in ARR in 10 years, did $901M in ARR at the end of 2022, and has been the first to embed offerings like payments and payroll. Beyond that, they have extended towards employees, guests, suppliers, and capital. Perhaps most importantly, they are one of the fastest learning, most data-driven, and humblest teams I’ve ever worked with. In case it isn’t already obvious, I’m a fan (and sit on the board).
Working with this company has been the privilege of a lifetime. The experience helped crystallize many of the ideas for Tidemark’s Vertical SaaS Knowledge Project. The connections I have made with the company also translated into our Tidemark community—five of their executives serve as Tidemark Fellows.
With all this in mind, there isn’t a more perfect company to kick off our case study series than Toast. Previously, I interviewed Tidemark Fellow and Toast CEO Chris Comparato on the company’s “Better Together” corporate strategy. Today, we’re going one level deeper by talking with Toast’s SVP of Product, Matt Kaplan, about his approach to multi-product and control points.
At Tidemark, we try to open-source our thinking as much as possible to help founders win; however, as investors, we can’t give everything away in public. If you’re an operator or founder, you can request access to the rest of this piece below.
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