Restaurant POS Systems
PAR Technology (NYSE: PAR) is a publicly traded restaurant technology company headquartered in the United States that sells software, hardware, and services to enterprise restaurant chains. The company operates as an ERP-style platform for restaurants, offering point-of-sale systems, loyalty software, online ordering, and back-office tools. As of 2024, PAR Technology carries a market capitalization of approximately $2 billion and ranks as the third-fastest-growing publicly traded company on a percentage basis. CEO Savneet Singh joined in 2018 at age 34 and inherited a business generating roughly $5 million in software revenue against a backdrop of deeply negative customer satisfaction scores. Since then, software revenue has grown 40 to 50 times, total revenue has reached approximately $450 million, and the company has turned profitable. Two major acquisitions completed in 2024, each priced at $170 million and $206 million respectively, have pushed the annualized software run rate to roughly $240 million to $250 million. PAR Technology's operating model is distinguished by a decentralized, Amazon-style organizational structure in which general managers own individual product P&Ls, and by a sales-and-marketing spend of just 14 percent of revenue, well below the 25 percent industry average. The company's largest customer contract, signed with Burger King in December 2023, is valued at $230 million over ten years, or $23 million per year.
- Revenue
- $450M
- Customers
- -
- Year founded
- 1968
- Funding
- -
- Team size
- 1.7K
- Location
- United States