
Total amount raised
$165 Millions
Latest funding date

Location
Upside has successfully raised significant funding through multiple rounds, with notable investors including Bessemer Venture Partners and General Catalyst. The platform offers a unique marketplace that enhances value for both consumers and businesses in brick-and-mortar commerce.
Keep reading to delve into the details of Upside's funding journey and the strategic investors supporting this innovative platform.
What Is Upside?
Founded in 2016, Upside is headquartered in Washington, D.C. The company was established by Alex Kinnier, Jan Rubio, Joanna Kochaniak, Rick McPhee, and Wayne Lin.
Upside operates a two-sided marketplace that enhances value in brick-and-mortar commerce. The platform helps consumers save money on essential purchases while ensuring businesses earn a profit. Additionally, Upside allocates 1% of its revenue to sustainability initiatives.
With a team of 251-500 employees, Upside continues to grow and innovate in the retail technology sector, providing significant benefits to both consumers and businesses.
How Much Funding Has Upside Raised?
- Series A
- Amount Raised: Not publicly disclosed
- Date: January 1, 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the platform and establish market presence.
- Series B
- Amount Raised: Not publicly disclosed
- Date: November 20, 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance product offerings.
- Series B
- Amount Raised: Not publicly disclosed
- Date: January 1, 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase user acquisition.
- Series C
- Amount Raised: Not publicly disclosed
- Date: August 31, 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand into new markets and improve technology infrastructure.
- Series D
- Amount Raised: $65M
- Date: April 26, 2022
- Lead Investors: General Catalyst
- Valuation at Round: $1.5 billion
- Motivation Behind the Round: To accelerate user growth, expand into new retail categories, invest in product development, and hire top talent.
- Debt Financing
- Amount Raised: $100M
- Date: April 26, 2022
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and strategic growth initiatives.
Total Amount Raised: $165M
Current Valuation: $1.5 billion
Key Investors
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in companies with strong financial and societal returns. They support founders from seed to growth stage and beyond, with offices in San Francisco, Palo Alto, New York City, London, and Boston.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Airbnb, Stripe, Snap.
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a venture capital firm that invests in early-stage and growth-stage companies. They have a long history of supporting innovative startups across various sectors.
- Investment Focus Areas: Enterprise, consumer, healthcare, frontier technology.
- Notable Investments: LinkedIn, Shopify, Pinterest.
- Builders VC
- Details: Builders VC is a venture capital firm that focuses on investing in companies transforming traditional industries through technology and innovation. They aim to support businesses that bring about significant change.
- Investment Focus Areas: Technology, healthcare, industrials.
- Notable Investments: Built Technologies, ServiceTitan.
What's Next for Upside?
Upside is poised to capitalize on significant opportunities, including accelerating user growth, expanding into new retail categories, and investing in product development. With a valuation of $1.5 billion and partnerships with over 50,000 businesses, the potential for growth is immense. The company’s focus on enhancing consumer purchasing power and driving profits for brick-and-mortar businesses aligns well with current industry trends.
Future fundraising opportunities seem likely as Upside continues to scale and innovate. The recent $165 million Series D round underscores investor confidence, suggesting that additional rounds could support further expansion and technological advancements. However, challenges such as managing rapid growth, navigating economic uncertainties, and maintaining a balance between profitability and community impact remain. Ensuring sustained value for both retailers and consumers will be crucial as the company moves forward.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay’s platform to access comprehensive fundraising data on companies like Upside and gather other critical business insights. Sign up for free today and elevate your sales strategy with the power of detailed, actionable information.