Owner Secures $240M Series D at $2.3B Valuation to Expand AI Platform for Local Businesses
aiinsider ·
Owner, a San Francisco-based company founded in 2020 that helps independent restaurants strengthen their online presence, raised $240 million in a Series D round led by Goldman Sachs Alternatives at a $2.3 billion valuation. Existing investors Meritech, Redpoint, Headline, and Jack Altman participated, following a $120 million raise last May and a $33 million round in early 2024. The company says its AI-native platform uses AI agents to manage restaurant websites, marketing, and other operational functions, and it recently introduced a point-of-sale system as part of its expansion plans. Owner reports that it now generates $100 million in annual recurring revenue across thousands of local businesses. Its AI tools are designed to act as an “AI CMO and CTO,” letting restaurants request tasks like menu promotions while agents handle website updates and campaign execution, and CEO Adam Guild says the mission is to make AI perform work small business owners could not previously afford, not to replace jobs. Owner also intends to extend its technology to other local businesses, such as salons, spas, and grocery stores, and to pursue international growth.
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