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upside.com

Founded Year

2016

Stage

Series D | Alive

Total Raised

$165M

Valuation

$0000 

Last Raised

$65M | 5 mos ago

Mosaic Score

+20 points in the past 30 days

What is a Mosaic Score?
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

About Upside

Upside is a retail technology company on a mission to help communities thrive. Its technology has helped millions of people get more purchasing power on the things they need and tens of thousands of brick and mortar businesses earn measurable profit. Billions of dollars in commerce runs through the Upside platform every year, and that value goes directly back to its retailers, the consumers they serve, and towards important sustainability initiatives. The company was founded in 2016 and is based in Washington, D.C.

Upside Headquarters Location

1701 Rhode Island Ave. NW

Washington, DC, 20036,

United States

ESPs containing Upside

The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.

EXECUTION STRENGTHMARKET STRENGTHLEADERHIGHFLIEROUTPERFORMERCHALLENGER
Consumer & Retail / Food & Grocery Tech

Digital loyalty programs can come in an array of applications from POS integrations like virtual punch cards to cash back on reservations at dine-in restaurants. Digital loyalty programs can help restaurants retarget customers with personalized rewards or drive traffic during non-peak hours.

Upside named as Leader among 9 other companies, including Personica, Magicpin, and FiveStars.

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Expert Collections containing Upside

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Upside is included in 5 Expert Collections, including Conference Exhibitors.

C

Conference Exhibitors

5,302 items

L

Loyalty & Rewards Tech

521 items

Startups allowing global brands and local shops alike to offer tech-enabled loyalty and rewards programs to their customers. This collection includes categories across loyalty software, digital loyalty & rewards, AI-powered loyalty, blockchain-powered loyalty, and more.

U

Unicorns- Billion Dollar Startups

1,187 items

S

Store management tech (In-store retail tech)

1,515 items

Startups aiming to work with retailers to improve brick-and-mortar retail store operations.

R

Restaurant Tech

1,217 items

Latest Upside News

Read the pitch deck that convinced investors like General Catalyst to invest $165 million in Upside, a rewards app that aims to ...

Sep 14, 2022

Upside This story is available exclusively to Insider subscribers. Become an Insider and start reading now. Upside is a rewards app that aims to help both merchants and consumers benefit from its offers. Work experiences at companies like Google inspired Upside's CEO and cofounder, Alex Kinnier. See the 16-slide pitch deck Upside used to raise $165 million and reach a $1.5 billion valuation. Alex Kinnier witnessed "the power of personalization" firsthand while working at Google as a product manager overseeing the tech company's ad-serving systems. While at the company, Kinnier also became fascinated with Google's chief economist Hal Varian's theories on the value destruction and inefficiencies that occur in brick-and-mortar retail. "That was like a virus in my brain. I just couldn't get it out of my head," he said of Varian's theory. Varian argues that adding personalization to knowledge of a customer's historical behavior and current needs maximizes benefits for both the customer and the merchant. It wasn't until Kinnier took a role overseeing products and engineering for OPower, a customer-engagement platform for energy providers, that the solution to the value-destruction problem for both merchants and consumers finally clicked for him. "Everywhere I looked, I could see this economic inefficiency in brick-and-mortar commerce, and what OPower taught me was that you can change behavior at massive scale," Kinnier told Insider. Kinnier launched his company — GetUpside, a rewards app — in January 2016. Originally, the app helped consumers find personalized cash-back offers on gas, but its offerings have since expanded to include deals for verticals like grocery stores, restaurants, and convenience stores at over 50,000 locations. In April, the company, now called Upside, announced $135 million in Series D funding along with a rebranding. General Catalyst — a venture-capital firm that has previously invested in high-profile consumer apps including Airbnb, Classpass, Deliveroo, Snapchat, and Canva — led the round. Existing investors, including Bessemer Ventures and Builders VC, also participated in the round. Kinnier, who is the company's CEO and one of its six cofounders, knows that the rewards space is a tough one to deal in: Other companies focused on rewards and deals like Groupon have struggled to maintain their early successes and have seen share prices remain low over the years. Larger competitors like PayPal are also edging into the space — the payments giant acquired coupon-finder company Honey for $4 billion in 2019. "When an investor takes our meeting, if they haven't been burned, they know another investor who's been burned in this space," he said. "This is not a place where there have been high returns for investors." In response to skepticism, Kinnier points to the platform's 98% merchant-retention rate as a marker of success. Another differentiator for the company is its emphasis on increased profits, not just increased sales. Under its profit-sharing model, Upside only makes money if merchants see increased profit from Upside's services, at which point Upside receives a share of the merchant's profits. Kinnier said that Upside's focus on providing deals on items customers regularly need keeps users coming back to the app. "This isn't a deep discount on a spa treatment. This is on groceries. It's on fuel. It's on restaurants," he said. He added that Upside will prove even more useful to consumers as inflation continues to push prices higher. Upside has also made its API available for other companies to use. GasBuddy and the Lyft- and Uber-driver apps use Upside's integration to help source cheaper gas, and Kinnier says that more integrations are in the works. The company — now with a valuation of $1.5 billion — will use the new capital to refine Upside's existing product as it rolls out nationally, and grow the company's headcount. The Washington, D.C.-based company currently has around 300 employees and aims to have more than 500 by the end of the year. See the 16 slides Upside used to raise its $165 million Series D round Upside

Upside Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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Upside Rank

  • When was Upside founded?

    Upside was founded in 2016.

  • Where is Upside's headquarters?

    Upside's headquarters is located at 1701 Rhode Island Ave. NW, Washington.

  • What is Upside's latest funding round?

    Upside's latest funding round is Series D.

  • How much did Upside raise?

    Upside raised a total of $165M.

  • Who are the investors of Upside?

    Investors of Upside include Builders VC, Bessemer Venture Partners, General Catalyst and Bienville Capital.

  • Who are Upside's competitors?

    Competitors of Upside include ShopBack, Split Technologies, Fetch Rewards, Lucky, ZAP, Drop, Accrue Savings, Thank U Cash, Swaypay, CashBackApp and 20 more.

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