Local startup GetUpside this week announced that it has secured $65 million in equity financing and $100 million in debt financing.
The latest funding is from General Catalyst with participation from existing investors including Bessemer Ventures and Builders VC. This latest round brings Upside’s valuation to $1.5 billion. The company also announced that it is rebranding the name of its app from GetUpside to Upside, to reflect its belief that it offers “upside” for customers and businesses alike.
Upside said it will use the latest funding to accelerate user growth, expand into new retail categories, invest in product development and hire more talent.
With inflation at a 40-year high, we are at an inflection point right now for brick and mortar businesses, consumers, and our communities. As businesses look for new ways to profitably grow, consumers are looking for ways to gain more purchasing power on the things they need. We are always focused on the win-win-win and are proud to have built the only product that delivers measurable benefits for all points of brick and mortar com. – Upside Co-Founder and CEO Alex Kinnier
Courtesy – Upside