Toast Makes First-Ever Acquisition

Toast , an all-in-one point-of-sale and restaurant management platform, has acquired StratEx, an HR and payroll software for restaurants.

Established in 2000, StratEx is an HR service company offering “sleep at night insurance” by ensuring companies maintain compliance with the ever-changing labor law landscape.

“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 percent. 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.” – Toast CEO Chris Comparato.

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

Bottom Line: The winner is whichever insurance company is supplying work comp coverage via StratEx; and if there’s no such company – then here’s your turn to shine.