What is Upstream?
Upstream operates as a no-code platform designed to empower individuals and groups to establish and manage their own DAOs. The platform consolidates essential DAO functionalities, including treasury management, voting mechanisms, governance protocols, token gating, group chat, vote delegation, and an integrated wallet, into a unified and accessible experience. Notably, Upstream distinguishes itself as the sole DAO platform available on mobile devices, offering its creation tools free of charge. The company was co-founded by Alex Taub and Michael Schonfeld, who previously founded and divested the social analytics platform SocialRank and have been active in the cryptocurrency domain since 2012.
How much funding has Upstream raised?
Upstream has raised a total of $15.3M across 2 funding rounds:
Angel/Seed
$2.8M
Series A
$12.5M
Angel/Seed (2021): $2.8M with participation from Converge, 8-Bit Capital, Human Ventures, Ibex Investors, and NYVP
Series A (2022): $12.5M led by Human Ventures, Blumberg Capital, Alpaca VC, Vayner Fund, Panoramic Ventures, Tiger Global Management, MEDICI GROUP, Ibex Investors, and Fenbushi Capital
Key Investors in Upstream
Human Ventures
Human Ventures is an investment firm that likely focuses on early-stage technology companies, given its participation in Upstream's funding rounds.
Ibex Investors
Ibex Investors is a US-based investment firm established in 2003, known for targeting differentiated investment strategies and seeking outsized returns.
Tiger Global Management
Tiger Global Management is a prominent investment firm that invests in both public and private markets, known for its significant capital deployment in technology companies.
What's next for Upstream?
The substantial enterprise-level backing positions Upstream for accelerated scaling and product development. With a recent major strategic investment, the company is poised to enhance its mobile-first DAO infrastructure, potentially expanding its feature set to include more sophisticated governance tools and community engagement functionalities. This strategic financing is expected to fuel Upstream's market penetration, enabling it to capture a larger share of the rapidly evolving decentralized governance landscape. Future initiatives will likely focus on solidifying its position as the go-to platform for accessible DAO creation and management, attracting a wider user base and fostering a robust ecosystem of decentralized organizations.
See full Upstream company page
