Owner.com, a software-as-a-service company focused on restaurants, has raised $120m in a funding round to enhance its capabilities in supporting restaurants and local businesses in their online growth.
The funding round was led by Alex Kurland of private equity company Meritech and Shalini Rao of venture capital firm Headline.
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The round also included strategic investments from several restaurant industry leaders, including Sweetgreen CEO Jonathan Neman and Cava CEO Brett Schulman.
Owner.com stated that the investment will help it scale “from startup to generational company.”
Owner.com’s mission is to assist restaurants and local businesses in thriving online, where an increasing number of transactions occur.
The company offers services such as websites, loyalty programmes, and digital marketing, aiming to level the playing field between small restaurants and large chains.
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By GlobalDataIn addition to its core offerings, Owner.com is investing in artificial intelligence. The startup recently unveiled a new product called AI Executives to assist restaurants with expertise in marketing, finance, and technology.
The AI-powered chatbots were developed using data collected from several restaurants that utilise Owner’s services.
Owner.com’s co-founder Adam Guild initially focused on reservations for restaurant chains. However, the company pivoted to online ordering during the pandemic and has experienced better growth since.
The company previously raised $33m in a Series B funding round in January 2024 and now collaborates with more than 10,000 restaurants, claiming to have multiplied its annual recurring revenue every year since its inception.
