# Upwell

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

- Industry: Software
- Headquarters: Omaha, US
- Website: www.upwell.com
- Total disclosed funding: $6.5M
- Latest round: Seed (Feb 10, 2025)
- Investors on record: 10

## About

Based in Nebraska, US, Upwell LLC specializes in accounts receivable automation software aimed at improving invoicing and collections in logistics and trucking. In February 2025, Upwell LLC raised USD 6.5 million in seed funding led by investor Vertical Venture Partners, with participation from other investors Automotive Ventures, Black Dog Venture Partners, Never Lift, and Plug and Play Ventures. Returning investors Invest Nebraska, Motivate Venture Capital, Revolution Ventures, SaaS Ventures, and Norwest Venture Partners.

Upwell specializes in accounts receivable automation software designed to enhance the efficiency of the invoicing and collections process within the logistics and trucking sectors. Their core offering leverages artificial intelligence to streamline workflows, enabling quicker resolution of invoice exceptions, automated sending of invoices and reminders, and seamless integration with existing TMS, ERP, and accounting platforms. The software allows for real-time document matching, email processing, and exception identification, significantly reducing manual data entry errors and improving cash flow management. Upwell's client base primarily consists of logistics companies, trucking firms, and other businesses requiring efficient accounts receivable processes, with their products being utilized in various geographical markets including North America and Europe.

Upwell generates revenue through a subscription-based model for its accounts receivable automation services, specifically targeting logistics and trucking companies. 

The company will use the February 2025 funding to develop its automated billing system.

## Funding rounds

- Seed, Feb 10, 2025, $6.5M — Norwest Venture Partners, Revolution Ventures, Plug and Play, Invest Nebraska, Vertical Venture Partners, SaaS Ventures, Black Dog Venture Partners, Motivate Venture Capital, Automotive Ventures, Never Lift

## Investors

- Norwest Venture Partners (https://capitalatlas.ai/funds/norwest-venture-partners) — Seed
- Revolution Ventures (https://capitalatlas.ai/funds/revolution-ventures) — Seed
- Plug and Play (https://capitalatlas.ai/funds/plug-and-play) — Seed
- Invest Nebraska (https://capitalatlas.ai/funds/invest-nebraska) — Seed
- Vertical Venture Partners (https://capitalatlas.ai/funds/vertical-venture-partners) — Seed
- SaaS Ventures (https://capitalatlas.ai/funds/saas-ventures) — Seed
- Black Dog Venture Partners (https://capitalatlas.ai/funds/black-dog-venture-partners) — Seed
- Motivate Venture Capital (https://capitalatlas.ai/funds/motivate-venture-capital) — Seed
- Automotive Ventures (https://capitalatlas.ai/funds/automotive-ventures) — Seed
- Never Lift (https://capitalatlas.ai/funds/never-lift) — Seed