Owner.com, a platform designed to empower independent restaurant owners in managing their online presence, has successfully raised $33 million in a Series B funding round. The funding, led by existing investors Redpoint Ventures and Altman Capital, with participation from Horsley Bridge, Activant Capital, and Transpose Platform Management, brings the total capital raised by Owner.com to $58.7 million.
In 2020, faced with the challenges of the global pandemic, restaurants experienced a significant shift in their business models, necessitating the adoption of online ordering, pick-up, and delivery services. Inspired by his mother’s struggles to attract customers to her dog grooming business, Adam Guild collaborated with Dean Bloembergen to create Owner.com.
The platform provides independent restaurant owners with an all-in-one solution, including online ordering, a website builder, customer relationship management tools, marketing automation, and a branded mobile app generator.
Owner.com aims to address the increasing challenges faced by the restaurant industry, such as rising labor and food costs, by helping owners enhance sales and save money. The platform has recently integrated artificial intelligence to introduce new features, including an AI-powered email marketer. This tool allows restaurant owners to input a sentence describing their desired email content, and the AI generates a personalized email in their style and tone, ready for distribution to customers.
With thousands of customers on board and a threefold increase in the customer base over the past year, Owner.com processes hundreds of millions of dollars annually for its clients, generating tens of millions in revenue. The latest funding will enable the company to continue investing in engineering and design teams to meet the evolving needs of its customers.
Owner.com’s vision is to support mom-and-pop restaurant owners in not only surviving but thriving in the increasingly digital landscape, where guest experiences have shifted online.
The Series B funding, with a post-money valuation of $200 million, underlines the confidence of investors in Owner.com’s mission to empower independent restaurants and contribute to the evolution of the restaurant industry in the digital age.