Owner, a company focused on helping independent restaurants grow their online presence, has raised $240 million in a Series D round led by Goldman Sachs Alternatives, bringing its total valuation to $2.3 billion. The round follows a $120 million raise last May and a $33 million round in early 2024, and included participation from existing investors Meritech, Redpoint, Headline, and Jack Altman.
The San Francisco-based company plans to use the funding to expand its “AI-native” platform, which uses AI agents to manage restaurant websites, marketing, and other operational functions. Owner recently launched a point-of-sale system as well, signaling its ambition to become a larger part of restaurants’ technology stacks. Founded in 2020, the company said it now generates $100 million in annual recurring revenue across thousands of local businesses.
Owner said its AI tools are designed to act as an “AI CMO and CTO” for small businesses, allowing restaurants to request tasks like menu promotions, with AI agents handling the creation, website updates, and campaign execution. Co-founder and CEO Adam Guild framed the company’s mission as using AI to perform work small business owners have historically been unable to afford, rather than replacing jobs.
Beyond restaurants, Owner said it intends to expand its technology to other local businesses, including salons, spas, and grocery stores, while also pursuing international growth.
Featured image: Credit: Owner
