Upp., a burgeoning technology firm based in London, uses AI and ML to redefine online marketing and sales methods for retailers.
The company recently completed a seed funding round, raising a robust sum of €9.1m. The lead investor in this round was Bonfire Ventures, a California-based venture capital firm.
Upp.’s platform, Upp.AI, is a transformative tool that employs intricate AI and ML algorithms to optimise ad expenditure, enhance product discovery, and bolster eCommerce sales. It serves as a potent tool to revamp Google Ads management and has reportedly assisted retailers in achieving a 52% surge in Google channel sales within the initial year of utilisation.
Established in 2019 by serial tech entrepreneur Ben White and Drew Smith, Upp. is on a mission to address the escalating complexity in today’s online retail landscape that surpasses the capabilities of humans alone. Ben White, the co-founder and chairman of Upp., has a notable entrepreneurial track record, having built and sold MessageLabs, which was acquired by Symantec in 2008 for $800m. Meanwhile, Drew Smith, the co-founder, serves as the lead platform architect of Upp.AI.
The recent funding will propel Upp. to continue assembling its world-class team, expedite the growth of its sales and marketing department, extend its geographical reach, and introduce new automated solutions for retailers.
Mark Mullen, co-founder of Bonfire Ventures, voiced his enthusiasm about Upp.’s future prospects. He said, “We believe that Upp. is the future of online sales. The company’s platform is incredibly powerful and has the potential to revolutionise the way retailers market, price and sell their products online. The platform was conceived by a talented team who have run multi-hundred-million-dollar businesses in the past, so it possesses a lot of horsepower.”
Currently, leading retailers like Charles Tyrwhitt, Onbuy, Roman Originals, and Nkuku leverage Upp.AI. The platform is available to retailers across the United Kingdom, Europe, and the United States.
This recent funding round garnered significant attention from angel investors within the technology sector. Bonfire Ventures, known for endorsing transformative B2B software founders, acknowledged Upp.’s distinctive solution in an evolving and fast-paced industry.
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