Owner

Owner provides independent restaurants with a free platform for online ordering, shipping and marketing, which puts them on an equal footing with large companies. Unlike traditional food delivery services, Owner restaurants own data about their customers and can automate campaign marketing tasks.

History

2021: Raising $10.7 million

At the end of August 2021, information appeared that the Day One Ventures fund had invested in a platform for orders from Owner restaurants.

Owner, along with co-founder Dean Bloombergen, received $10.7 million in seed funding under the leadership of the SaaStr Fund, with the participation of Redpoint Ventures and Day One Ventures, the founder of which is Maria Drokova, the ex-speaker of the Nashi youth movement, who kissed Vladimir Putin in 2009 on Seliger. A number of other individual investors also participated in the financing, including Naval Ravikant, host of The Profit on CNBC; Marcus Lemonis and Kimbal Mask of The Kitchen Restaurant; founder DoNotPay Joshua Browder; Figma founder Dylan Field.

Fund of Russian Maria Drokova Day One Ventures invested in a platform for orders from restaurants

Jason Lemkin, founder of the SaaStr Fund, said that the restaurant SaaS is an area in which his firm was interested in investing, but thought it was a little boring in this area there were already quite a few suppliers, such as Toast and Grubhub and most of them were just technological solutions. However, when he heard that the company was Owner.com getting out of this monotony, he said he should reconsider his views.

The ability to own customer relationships is the very ultimate differentiation. Their ultimate goal is to provide a robust technology platform to increase margins so that people order more and return more often, said SaaStr Fund founder Jason Lemkin.

Owner intends to use the new funding to continue developing its product and adding new features, such as landing pages, reservation options, and native applications for white services.

We are talking about expanding the opportunities by 40% of the restaurant industry, which employs people who started from an entry level position and have made their way to the American dream over the years, "said Adam Gield, co-founder and CEO of the company, a high school graduate and Thiel scholarship student.

Since its launch in 2020, the company has achieved a seven-figure launch rate and more than 105% monthly revenue retention at more than 700 restaurants, Adam Gild said. As of August 31, 2021, Owner made deals worth more than $18 million and helped its customers avoid annual payments of $3 million to pay for the services of the online order platform.^[1]

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