# Upsie Technology

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/upsie-technology

- Industry: Insurance
- Headquarters: Minneapolis, US
- Website: www.upsie.com
- Total disclosed funding: $20M
- Latest round: Series A (May 13, 2021)
- Investors on record: 20

## About

Upsie Technology Inc. provides innovative warranty solutions for electronics, offering transparent and reliable protection plans for devices such as smartphones and gaming consoles, meeting the growing consumer demand for dependable coverage.Upsie Technology Inc. specializes in warranty solutions for electronic devices. Founded in 2015 in Minneapolis, US, the company has completed a total of 7 deals. The latest funding round was a Series A, which raised USD 18.2 mn on May 13, 2021, led by True Ventures, with participation from multiple investors including Avanta Ventures and Samsung NEXT Ventures. The company's founder, Clarence Bethea, has previously founded other ventures and currently serves as CEO alongside Will Anderson.Upsie specializes in offering comprehensive protection plans for a wide array of electronic devices, including smartphones, laptops, gaming consoles, smartwatches, and home appliances. The company's core services focus on providing affordable, transparent, and reliable warranty options that cover accidental damage, mechanical failures, and malfunctioning devices. Upsie’s plans are designed to be straightforward, with clear terms and no surprise fees, allowing users to file claims easily at any time. The customer base primarily consists of individual consumers, tech enthusiasts, and families looking for cost-effective insurance solutions for their valuable electronic devices. Upsie's services are available in various U.S. markets, ensuring accessibility for a broad audience across the country.Upsie generates revenue primarily through subscription-based models, where customers pay monthly fees for their protection plans. For instance, smartphone protection plans are available for USD 7.99 per month, while other devices, such as gaming consoles and appliances, have varying subscription costs based on their value. The pricing structure is designed to attract direct-to-consumer transactions, allowing customers to enroll in coverage without the need for intermediaries. Upsie aims to differentiate itself from traditional retailers by offering lower prices compared to in-store protection plans, which contributes to its competitive edge in the warranty market.Upsie Technology Inc. will utilize the USD 18.2 mn raised in the Series A financing to increase customer awareness and continue expanding its warranty product offerings. Plans include launching new products and doubling the current headcount of 15 by targeting growth in various U.S. markets. Specific geographic regions for expansion have not been disclosed, but the company is focused on enhancing its presence and service capabilities across the country.

## Funding rounds

- Series A, May 13, 2021, $18M — True Ventures, Silicon Valley Bank, Kapor Capital, Matchstick Ventures, Draft Ventures, Backstage Capital, M25, Samsung NEXT Ventures, Uncommon Denominator, Overtime.vc, Avanta Ventures, Westbound, Massive, Awesome People Ventures
- Seed, Jan 30, 2018, $1.7M — Techstars, Village Capital, Gopher Angels, Matchstick Ventures, M25, Bread & Butter Ventures
- Seed, Jul 21, 2017, $0.1M — Techstars, Right Side Capital Management
- Seed, Sep 1, 2016 — Access Ventures

## Investors

- Access Ventures — Seed
- Techstars (https://capitalatlas.ai/funds/techstars) — Seed
- Right Side Capital Management (https://capitalatlas.ai/funds/right-side-capital-management) — Seed
- Village Capital (https://capitalatlas.ai/funds/village-capital) — Seed
- Gopher Angels (https://capitalatlas.ai/funds/gopher-angels) — Seed
- Matchstick Ventures (https://capitalatlas.ai/funds/matchstick-ventures) — Seed, Series A
- M25 (https://capitalatlas.ai/funds/m25) — Seed, Series A
- Bread & Butter Ventures (https://capitalatlas.ai/funds/bread-butter-ventures) — Seed
- True Ventures (https://capitalatlas.ai/funds/true-ventures) — Series A
- Silicon Valley Bank — Series A
- Kapor Capital (https://capitalatlas.ai/funds/kapor-capital) — Series A
- Draft Ventures (https://capitalatlas.ai/funds/draft-ventures) — Series A
- Backstage Capital (https://capitalatlas.ai/funds/backstage-capital) — Series A
- Samsung NEXT Ventures (https://capitalatlas.ai/funds/samsung-next-ventures) — Series A
- Uncommon Denominator (https://capitalatlas.ai/funds/uncommon-denominator) — Series A
- Overtime.vc — Series A
- Avanta Ventures (https://capitalatlas.ai/funds/avanta-ventures) — Series A
- Westbound (https://capitalatlas.ai/funds/westbound) — Series A
- Massive (https://capitalatlas.ai/funds/massive) — Series A
- Awesome People Ventures (https://capitalatlas.ai/funds/awesome-people-ventures) — Series A