WASHINGTON, D.C.—GetUpside has rebranded to Upside and today announced $65 million in equity financing and $100 million in debt financing, bringing the retail technology company’s valuation to $1.5 billion.
Upside will use this round of fundraising to accelerate user growth, expand into new retail categories, invest in product development and hire top talent, the company said.
“With inflation at a 40-year high, we are at an inflection point right now for brick-and-mortar businesses, consumers and our communities,” said Upside Co-Founder and CEO Alex Kinnier. “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 commerce.”
More than 50,000 convenience stores—including such names as bp, Casey’s, Circle K, Phillips 66, Shell and Valero— grocery stores, restaurants and gas stations across the U.S. have partnered with Upside, and 30 million consumers have access to Upside offers through its app and partner apps. To date, Upside said it has driven $550 million back into local communities and has committed 1% of all revenue to sustainability initiatives related to its areas of operation.