What is Upstream?
Upstream operates as a no-code platform designed to empower individuals and groups to establish and manage their own Decentralized Autonomous Organizations (DAOs). Its core product, Upstream Collectives, integrates essential DAO functionalities such as treasury management, voting mechanisms, governance protocols, token gating, group chat, vote delegation, and a built-in wallet into a unified and accessible experience. Notably, Upstream is the only DAO platform available on mobile devices and offers free DAO creation, positioning itself as a key player in democratizing DAO technology. 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 Ibex Investors, Converge, NYVP, Human Ventures, and 8-Bit Capital
Series A (2022): $12.5M led by Tiger Global Management, Ibex Investors, Fenbushi Capital, MEDICI GROUP, Panoramic Ventures, Vayner Fund, Human Ventures, Blumberg Capital, and Alpaca VC
Key Investors in Upstream
Tiger Global Management
Tiger Global Management is an investment firm deploying capital in both public and private markets. The company was founded in 2001 and is headquartered in New York City, New York.
Ibex Investors
Founded 2003, Ibex Investors is a US-based investment firm targeting outsized returns through niche, non-correlated, differentiated strategies. Ibex Investors is headquartered in Denver, Colorado.
Fenbushi Capital
Fenbushi Capital is Asia's pioneering asset management firm focused on blockchain technology, established in 2015 with an AUM of 1.6 billion. The firm has made notable early investments in Ethereum and currently supports over 300 innovative projects within the blockchain ecosystem. Committed to fostering startups and promoting industry growth, Fenbushi Capital aims to shape the future of blockchain technology across various sectors through extensive research and investment. Its intended clients include emerging blockchain startups and innovative projects looking for support in their development and growth.
What's next for Upstream?
The substantial enterprise-level funding and recent strategic investment signal Upstream's readiness for significant scaling and market expansion. This capital infusion is expected to fuel product development, enhance user acquisition strategies, and solidify its position as a leader in the burgeoning DAO ecosystem. With a focus on mobile accessibility and a no-code approach, Upstream is well-positioned to capture a broad user base, from individual creators to established organizations looking to leverage decentralized governance. Future growth will likely involve expanding platform features, forging strategic partnerships within the Web3 space, and further optimizing the user experience to drive adoption and engagement.
See full Upstream company page
