Owner Raises $240M at $2.3B Valuation for AI Platform Targeting Local Businesses
Owner, an AI platform designed to support local businesses with digital tools typically reserved for large corporations, has raised $240 million in a funding round led by Growth Equity at Goldman Sachs Alternatives. The company now holds a valuation of $2.3 billion and is expanding its mission beyond restaurants into other sectors like salons and grocers. Founded in 2020, Owner provides AI-driven services including website management, online ordering, CRM, customer support, POS systems, and marketing automation for local businesses. The platform has surpassed $100 million in annual recurring revenue (ARR) and is projected to generate over $1 billion from restaurant owners alone this year. Owner's technology automates key business functions such as promotions, website updates, campaign creation, customer service, and phone orders using AI agents. Early results show a 40% average increase in online traffic within the first month of adoption and more than 40% growth in direct online revenue for restaurants.
Tickers: $GS
Topics: AI restaurant industry small business tech startup funding