What is Upsie?
Founded in 2015 by Clarence Bethea, Upsie emerged from a personal need to address the inefficiencies and high costs prevalent in the warranty industry. The company's core mission is to provide accessible, straightforward, and user-friendly warranty solutions for a wide array of products, including smartphones, appliances, and gaming consoles. Upsie's digital platform, accessible via its website and mobile app, centralizes warranty information, offering consumers a transparent and convenient way to protect their purchases. Headquartered in Saint Paul, Minnesota, Upsie is positioned to disrupt the traditional warranty market by prioritizing customer experience and affordability.
How much funding has Upsie raised?
Upsie has raised a total of $24.9M across 3 funding rounds:
Angel/Seed
$1.7M
Other Financing Round
$5M
Series A
$18.2M
Angel/Seed (2018): $1.7M with participation from Village Capital, Gopher Angels, The Syndicate Fund, Matchstick Ventures, Techstars, and M25 Group
Other Financing Round (2019): $5M led by True Ventures
Series A (2021): $18.2M supported by M25, Massive, Samsung NEXT, Concrete Rose VC, Kapor Capital, True Ventures, Silicon Valley Bank, Uncommon VC, Matchstick Ventures, Avanta Ventures, Awesome People Ventures, Backstage Capital, and Draft Ventures
Key Investors in Upsie
M25
M25 is an early-stage venture firm based in Chicago, specializing in technology startups in the Midwest. They focus on Pre-Seed and Seed stage companies, employing an analytical approach to mitigate risk and foster community collaboration.
Samsung NEXT
Samsung NEXT, established in 2012, operates out of Mountain View, California, and focuses on software and services that complement Samsung's hardware. They integrate product development, investment, and partnerships.
True Ventures
True Ventures is a founder-first venture capital firm that supports early-stage technology and AI companies, providing capital, guidance, and community to help build enduring businesses.
What's next for Upsie?
With its recent major strategic investment and substantial overall funding, Upsie is poised for accelerated growth and market penetration. The capital infusion will likely support the expansion of its product offerings, enhancement of its technology platform, and broader marketing initiatives to reach a wider consumer base. Upsie's focus on innovation and customer-centricity, combined with strategic backing, positions it to further solidify its market position and potentially explore new verticals within the extended warranty and protection plan industry. The company's trajectory suggests a move towards scaling operations and solidifying its competitive advantage.
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