Owner raises $240 million as restaurant software crosses $100 million in annual revenue

San Francisco-based Owner has closed $240 million in new financing at a $2.3 billion valuation, co-founder and chief executive Adam Guild announced on X on Friday. Growth Equity at Goldman Sachs Alternatives led the round. Existing backers Meritech, Redpoint, Headline, and Jack Altman also participated.

Guild said the company has passed $100 million in annual recurring revenue. Owner sells software that handles websites, online ordering, mobile apps, marketing, customer support, and point-of-sale work for independent restaurants. The company positions the product as an AI-powered stand-in for a technology and marketing team that most small operators cannot hire.

The firm was started in 2020 by Guild and Dean Bloembergen. Its first product was built to help Guild's mother run a small business online. Owner now says thousands of local businesses use the platform and that more than 100 million U.S. consumers have interacted with a restaurant running on its software. Independent restaurants on the platform are expected to generate more than $1 billion in sales through Owner this year.

Guild framed the raise against a broader industry trend. On X he wrote that much of the market is building AI to replace jobs, while Owner is building systems that do work small operators have never been able to afford. The company argues that large chains already spend heavily on digital ordering and marketing, and that independents need a single system if they are going to keep pace.

Owner plans to use the capital to add more restaurants in the United States, take the product into other countries, and expand beyond dining. Guild has pointed to grocers, salons, and similar neighborhood businesses as the next categories. The company recently added a point-of-sale product, a move that would put it deeper into daily restaurant operations rather than only marketing and ordering.

The financing is a large late-stage check for a company that last raised a $120 million Series C in 2025 at a $1 billion valuation. Institutional participation from Goldman Sachs Alternatives is a signal that investors still want AI products aimed at small businesses rather than only at large enterprises.

Owner has not disclosed how much of the new money will go to hiring versus product work. What it has said is that the near-term goal is to give every independent restaurant in the United States access to the same digital tools that national chains already run in-house.