What is Upsie?
Founded in 2015 by Clarence Bethea, Upsie addresses systemic inefficiencies within the traditional warranty industry. By providing a streamlined, user-centric platform, the company enables consumers to purchase and manage protection plans for a wide array of electronics and appliances directly via mobile application or web interface. Headquartered in Saint Paul, Minnesota, Upsie differentiates itself through transparency and accessibility, effectively removing the friction typically associated with legacy warranty providers. The company serves as a critical bridge between consumers and reliable device protection, positioning itself as a leader in the evolving insurtech market.
How much funding has Upsie raised?
Upsie has raised a total of $24.9M across 3 funding rounds:
Angel/Seed
$1.7M
Other Financing Round
$5M
Series A
$18.2M
Angel/Seed (2018): $1.7M with participation from The Syndicate Fund, Village Capital, Gopher Angels, Techstars, Matchstick Ventures, and M25 Group
Other Financing Round (2019): $5M led by True Ventures
Series A (2021): $18.2M supported by True Ventures, Silicon Valley Bank, Samsung NEXT, Concrete Rose VC, Kapor Capital, M25, Massive, Matchstick Ventures, Avanta Ventures, Awesome People Ventures, Uncommon VC, Backstage Capital, and Draft Ventures
Key Investors in Upsie
True Ventures
True Ventures is a founder-first venture capital firm that partners with creative teams at the earliest stages, providing capital, guidance, and a strong community to help build enduring technology and artificial intelligence-driven companies.
Matchstick Ventures
Matchstick Ventures is an early-stage venture fund focused on investing in diverse founders and innovative ideas in the North and Rockies, providing capital and resources to ambitious entrepreneurs at the pre-seed and seed stages.
Avanta Ventures
Avanta Ventures is the venture capital arm of CSAA Insurance Group, focused on investing in innovative ideas to transform the insurance industry and related sectors, specifically targeting early-stage startups in Insurtech and mobility.
What's next for Upsie?
Following the successful Series A financing, Upsie is well-positioned to accelerate its product development and market penetration strategies. The company is expected to leverage this capital to enhance its technological infrastructure, potentially integrating advanced data analytics to further personalize the user experience. As the firm continues to scale, the focus will likely shift toward deepening partnerships with retailers and expanding its service offerings to cover a broader spectrum of consumer goods. By maintaining its commitment to simplicity and affordability, Upsie is poised to capture a larger share of the warranty market while continuing to challenge established industry incumbents.
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