Company
San Francisco company that sells an AI-powered marketing and tech platform—website, ordering, app, CRM, POS, phone—to independent restaurants.
Twenty-one of those 81 carry the number while still private, so the comps a Series A gets underwritten against are marks rather than distributions, and the arithmetic that produced four is sensitive to one ownership input.
Reality
After three years of rebuilding, the demo booking and the onboarding specialist are gone, replaced by a free five-minute AI build. Owner earns a cut of payment volume, which is what lets it call a customer login a defect.
Reality
Goldman Sachs led the $240 million round at a $2.3 billion valuation. What the money funds is one vendor holding the website, the third-party listings, the till and the app that routes orders around delivery platforms.
Reality
At $2.3bn on more than $100m of recurring revenue, the $240m Series D buys roughly a tenth of Owner, and the disclosures that would test the price, retention and location count, are the two the release skips.
Reality
Adam Guild told SaaStr that DAU, WAU and MAU should fall as agents do the work. Owner is past $100M ARR and accelerating, which is the only reason the argument gets a hearing.
Reality