Owner has raised $240 million in new financing at a $2.3 billion valuation as the AI-native technology platform expands beyond restaurant software toward becoming a broader operating system for local businesses.
Growth Equity at Goldman Sachs Alternatives led the round, with participation from existing investors Meritech, Redpoint, Headline and Jack Altman.
Owner describes its platform as an AI-powered CMO and CTO for local businesses. Its technology can manage websites, online ordering, mobile applications, CRM, customer support, point-of-sale systems and AI-powered phone ordering.
The company’s AI agents are designed to manage and improve those functions automatically, allowing smaller businesses to access technology and marketing capabilities that have historically been more readily available to large chains.
Owner launched in 2020 and has now surpassed $100 million in annual recurring revenue.
Independent restaurant customers are expected to generate more than $1 billion of sales through Owner during 2026. Thousands of local businesses use the platform, and more than 100 million U.S. consumers have interacted with businesses powered by its technology.
Owner said its platform now powers more U.S. restaurant locations than either Domino’s or Taco Bell.
Its AI agents can execute complete marketing and customer engagement workflows. A restaurant owner can ask the platform to promote a menu item, for example, and Owner can generate the creative, update the website, build the campaign, and publish it.
The system can also answer phone calls, take orders, respond to reviews and emails, and provide customer support.
Owner said restaurants using its platform increase online traffic by an average of 40% within 30 days of launching. The average restaurant also increases direct online revenue by more than 40% during its first year, while customers using branded restaurant apps reorder at twice the rate of non-app users.
The company’s team includes former leaders from Shopify, DoorDash, Compass, Salesforce, and HubSpot, and more than 35 employees are former founders.
Owner plans to expand across independent U.S. restaurants, enter international markets, and eventually bring the platform to categories including salons, spas, and independent grocers.
KEY QUOTE:
“The world is racing to build AI to replace people’s jobs. Owner is building AI to do the opposite: to do the jobs many small business owners have never been able to afford. Now, for the first time, local restaurants have the same tech advantages as the huge chains they compete with. And soon every small local business, including grocers and salons, will have those advantages too.”
Adam Guild, Co-Founder And CEO Of Owner
