By RTN Staff - 2.2.2024
Owner.com, a digital tool provider for independent restaurants, has raised $33 million in a Series B funding round. The company, founded in 2020, reportedly plans to use the funding to expand its team of engineers and product designers, and to create more free instructional content for restaurants.
Owner.com offers a comprehensive suite of digital tools to help independent restaurants build their online presence, including website building, online ordering, digital marketing, and customer relationship management.
The company has seen rapid growth in recent years, reportedly tripling its business in 2022 and 2023, and is projected to increase its revenue fivefold over the next two years. Over 2,000 restaurants currently utilize Owner.com’s technology, paying a flat monthly fee without per-order commissions. While many competitors target large chains, Owner.com is focused on assisting local restaurants in their digital transformation.
The global pandemic in 2020 necessitated a shift in the restaurant industry, with a sudden need for online ordering and delivery services. Owner.com was created by Adam Guild and Dean Bloembergen to help independent restaurant owners navigate this new digital landscape. The platform offers a range of tools, including online ordering, website building, customer relationship management, marketing automation, and a branded mobile app generator. The company Owner.com has recently incorporated artificial intelligence into its platform, offering features like an AI-powered email marketer.
Owner.com has experienced rapid growth, tripling its customer base in the past year and processing hundreds of millions of dollars annually for its customers. The company has previously raised $10.7 million in seed funding, led by SaaStr Fund, and $15 million in Series A capital, led by Altman Capital. The recent Series B funding round, which valued the company at $200 million post-money, was co-led by Redpoint Ventures and Altman Capital, with participation from Horsley Bridge, Activant Capital, and Transpose Platform Management. The total capital raised by the company now stands at $58.7 million.
Looking ahead, Owner.com plans to continue investing in its engineering and design teams to meet the evolving needs of its customers. Future plans also reportedly include expanding outside the U.S. and integrating artificial intelligence into its services to automate marketing for independent restaurants.
