Restaurant Tech Startup Owner.com Hits $1 Billion Valuation (1)

Owner.com Inc., a startup making software for restaurants and other small businesses, has raised a new funding round at a $1 billion valuation — quintuple its value a year ago.

The company raised $120 million in a funding round led by Meritech Capital and the VC firm Headline, with participation from other investors including Alt Capital and Day One Ventures.

The California-based startup helps restaurants improve their visibility in online search, and aims to help convert visitors into paying customers. Owner additionally helps restaurants with AI-powered website-building and automated marketing. The company says it’s used by more than 10,000 restaurants, and plans to ...