AI Startup Owner Raises $240M to Empower Small Business Owners with AI Technology

AI startup, Owner, has secured $240 million in funding, with a valuation of $2.3 billion. The company provides AI technology to support local business owners, initially focusing on the restaurant industry. Owner's AI platform offers a range of services including website management, online ordering, CRM, and AI phone ordering, aiming to provide small businesses with the technological capabilities typically available only to larger corporations.

Since its launch in 2020, Owner has acquired over $100 million in annual recurring revenue and is anticipated to facilitate over $1 billion in sales for independent restaurant owners this year. With a team comprised of industry leaders and former founders, Owner plans to expand its AI system to various local businesses such as salons, grocers, and spas.

The funding round was led by Growth Equity at Goldman Sachs Alternatives, with participation from existing investors Meritech, Redpoint, Headline, and Jack Altman.