Upside Raises $165M in Funding

Upside(fka GetUpside), Washington, DC-based retailer technology company, has raised $165M.

The round brought in $1.5 billion in valuation and included:

  • General Catalyst provides equity financing of $65 million with participation by existing investors, including Bessemer Ventures, Builders VC and Bessemer Ventures.
  • Debt financing up to $100 million

The funds will be used by the company to increase user growth, expand into new categories of retail, invest in product development and to hire talent.

Alex Kinnier is the CEO of Upside, a marketplace that gives users more buying power for the items they use every day. Upside has partnered with over 50,000 convenience stores, restaurants and gas stations across the country. Upside offers are available through its app and partner apps to 30 million consumers. Upside has contributed 1% to sustainability initiatives in its areas of operation and has returned $550 million to local communities to date.

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