Upsie is thrilled to announce the closing of another round of fundraising! We will use the funds to increase customer awareness, continue building warranty product offerings and grow the business.
The warranty industry has, historically, been a grey area for many consumers. At the store, salespeople persuade you to buy warranties but don’t explain how they work. They do this because warranties bring in enormous profits for big-box stores. Most people don’t know that warranties at the store can be marked up as much as 900%!
Pricing wasn’t the only aspect of warranties that was unknown. Many consumers would lose their receipt and, therefore, would not be able to use the warranty. If they did have the receipt, making it through the claims process was daunting and many would find out that their damage wasn’t covered only after starting a claim. That’s why, in 2015, we created Upsie.
We set off to build a platform that would benefit the consumer: affordable prices, easily-consumable information, simple purchase and claims process and the ability to manage all plans in one place. We envisioned being 100% honest and transparent with our customers. No hidden fees or rules.
Four years later, we have reached that initial milestone, but we have many milestones yet to reach. Our latest round of funding will allow us to do just that.
With this funding, we plan to expand our team. If you are passionate about customer satisfaction and are looking to join the Upsie team, we are looking to fill positions in growth, engineering and customer service. Click the links for individual job descriptions!
Additionally, we will use this funding to continue to improve our platform and make it even more user friendly. We will also introduce new warranty plans so our customers can protect all of their favorite things with Upsie. Lastly, we will expand our marketing reach so Upsie becomes a household name.
The round was led by True Ventures with participation from Techstars Ventures, Matchstick Ventures, Syndicate Fund, M25 and past angel investor Marc Belton.
The Upsie Team