Foot traffic was a major marketing tool for independent restaurants. The 2020 worldwide epidemic altered everything.
Restaurants had to put up online ordering, establish a pick-up and delivery strategy, and develop new methods to reach consumers who stopped eating out overnight.
Adam Guild and Dean Bloembergen created Owner.com to help independent restaurant owners manage their web presence after seeing his mother struggle to attract clients to her dog grooming company.
“People are hurting worse than ever in the restaurant industry because inflation has created rising labor and food costs,” Guild told Eltrys. “It compresses these restaurant owners’ already low profit margins, so they need to find ways to increase sales and save money more than ever.”
Owner.com provides restaurants with online ordering, a website builder, CRM tools, marketing automation, and a customized mobile app generator.
The National Restaurant Association predicted $997 billion in 2023 restaurant revenues. Guild said that gives Owner.com a great opportunity.
Other companies may employ technology in mom-and-pop establishments. Superorder raised $10 million last year to help restaurants improve their web presence, and dozens of firms, including Zitti, MarginEdge, OneOrder, and TouchBistro, provide front- and back-of-house operating capabilities.
Owner.com added an email marketer using artificial intelligence to stand apart. Restaurant owners may type a sentence about what they want the email to say or do. For example, “Tell my customers about my new yellow curry,” and the AI will create a customer-ready email in their style and tone.
Since last year, the firm has tripled its clientele to thousands. Guild claimed Owner handles hundreds of millions of dollars for consumers and earns tens of millions.
Eltrys covered Owner.com’s $10.7 million seed round by SaaStr Fund and $15 million Series A fundraising by Altman Capital.
Guild says it secured $33 million in Series B fundraising at a $200 million post-money value. Horsley Bridge, Activant Capital, and Transpose Platform Management joined Redpoint Ventures and Altman Capital in the round. The capital raised was $58.7 million.
Guild plans to invest in technical and design teams to meet consumer needs. Besides the AI-powered email marketer, more technologies are coming.
“Even five years ago, it was enough to provide great food and great service because those things are hard to do alone,” Guild added. “To be a successful restaurant, it’s no longer enough. Even where individuals find restaurants, the guest experience has moved online. Large companies may spend billions on engineers, marketing, and ads. Independent restaurateurs are swindled. Our goal is to help mom-and-pop entrepreneurs survive and grow as more of their company moves online.
