# Upskill

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/upskill

- Industry: Software
- Headquarters: Vienna, US
- Website: www.upskill.io
- Total disclosed funding: $36M
- Latest round: Series B (Oct 11, 2019)
- Investors on record: 12

## About

Upskill, Inc. is a US-based company specializing in augmented reality (AR) solutions that enhance enterprise operations, focusing on improving workforce productivity and customer engagement through innovative technologies.Founded in 2010 in Vienna, US, Upskill, Inc. provides AR solutions to facilitate enterprise operations. The company was acquired by TeamViewer Germany GmbH in March 2021, which aims to maintain and grow its presence in the US tech ecosystem. The founders include Adedamola Ojomo, Akeil Smith, Craig Cummings, and Sean Lane, with Akeil Smith currently serving as the CEO. To date, Upskill has completed a total of 7 deals, with the most recent funding round being Series B, where the company raised USD 7.570 mn from notable investors such as Accenture and Boeing Company Pension Fund. The total amount raised by Upskill is also USD 7.570 mn, and its current valuation stands at USD 118.075 mn.Upskill, Inc. specializes in augmented reality (AR) solutions designed to enhance enterprise operations. Their product offerings include advanced connectivity solutions that aid in logistics, manufacturing, and customer service, facilitating seamless data visualization through wearable devices. These solutions cater to a wide range of industries including automotive, healthcare, logistics, and retail, across various geographical markets such as North America, Europe, and Asia.Upskill, Inc. generates revenue primarily through subscription-based models for its AR solutions, which include features tailored for IT support and remote monitoring. Clients typically engage in annual or multi-year contracts, with a B2B transaction structure based on user and device counts. This model is designed to foster long-term partnerships with clients, ensuring ongoing support and updates, although specific pricing plans remain proprietary.In the wake of its acquisition by TeamViewer Germany GmbH, Upskill, Inc. plans to expand its presence in the US by enhancing existing partnerships within the tech ecosystem. The recent funding round will help bolster these initiatives, focusing on the development and launch of new AR products tailored for frontline workers. The company aims to solidify its operations by 2022, capitalizing on enhanced market penetration strategies to support future growth.

## Funding rounds

- Series B, Oct 11, 2019, $7.6M — New Enterprise Associates, Boeing Company Pension Fund, Accenture, Cisco Systems, Inc., GE Ventures
- Series B, Jan 27, 2017 — New Enterprise Associates, Stony Lonesome Group, SineWave Ventures, GE Ventures, HorizonX Ventures
- Series A, Oct 5, 2015, $13M — New Enterprise Associates, CNF Investments, SineWave Ventures, Salesforce Ventures, First Star Ventures, GE Ventures
- Series A, May 21, 2014, $16M — New Enterprise Associates, Work-Bench, Stony Lonesome Group

## Investors

- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Series A, Series B
- Work-Bench — Series A
- Stony Lonesome Group (https://capitalatlas.ai/funds/stony-lonesome-group) — Series A, Series B
- CNF Investments (https://capitalatlas.ai/funds/cnf-investments) — Series A
- SineWave Ventures (https://capitalatlas.ai/funds/sinewave-ventures) — Series A, Series B
- Salesforce Ventures (https://capitalatlas.ai/funds/salesforce-ventures) — Series A
- First Star Ventures (https://capitalatlas.ai/funds/first-star-ventures) — Series A
- GE Ventures — Series A, Series B
- HorizonX Ventures (https://capitalatlas.ai/funds/horizonx-ventures) — Series B
- Boeing Company Pension Fund — Series B
- Accenture — Series B
- Cisco Systems, Inc. — Series B