About Upromise
Upromise is a company based in Newton (United States) founded in 2000 was acquired by Prodege in June 2020.. Upromise has raised $55 million across 1 funding round from investors including Goldman Sachs, Kleiner Perkins and Sallie Mae. Upromise operates in a competitive market with competitors including Ibotta, LivingSocial, Mobee, Shopkick and Shopular, among others.
- Headquarter Newton, United States
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Sectors
Retail
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$55 M (USD)
in 1 rounds
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Latest Funding Round
$55 M (USD), Series B
Nov 06, 2000
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Investors
Goldman Sachs
& 7 more
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Employee Count
Employee Count
- Acquired by
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Leadership Team
2 people
Software Development Team
1 people
Project Team
1 people
Asistente Team
1 people
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Funding Insights of Upromise
Upromise has successfully raised a total of $55M through 1 strategic funding round. The most recent funding activity was a Series B round of $55 million completed in November 2000. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Series B — $55.0M
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First Round
First Round
(06 Nov 2000)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2000 | Amount | Series B - Upromise | Valuation | Hellman & Friedman |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Upromise
Upromise has secured backing from 8 investors, including venture fund and institutional investors. Prominent investors backing the company include Goldman Sachs, Kleiner Perkins and Sallie Mae. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Investment banking services are delivered across multiple financial sectors.
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Founded Year | Domain | Location | |
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CRV is recognized as a venture capital firm investing in technology startups.
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Founded Year | Domain | Location | |
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Private equity fund focused on global markets
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Upromise
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
|
2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Upromise
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Upromise Comparisons
Competitors of Upromise
Upromise operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Ibotta, LivingSocial, Mobee, Shopkick and Shopular, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cashback is provided on multi-category product purchases via mobile app.
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| domain | founded_year | HQ Location |
Daily deals on local experiences and products are offered online.
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| domain | founded_year | HQ Location |
Rewards and cashback are delivered through a mobile app platform.
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| domain | founded_year | HQ Location |
Hyperlocal mobile-app platform offering rewards and shopping assistance to consumers
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| domain | founded_year | HQ Location |
Personalized promotions are delivered to shoppers via GPS-enabled app.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Upromise
Frequently Asked Questions about Upromise
When was Upromise founded?
Upromise was founded in 2000.
Where is Upromise located?
Upromise is headquartered in Newton, United States. It is registered at Newton, Massachusetts, United States.
Is Upromise a funded company?
Upromise is a funded company, having raised a total of $55M across 1 funding round to date. The company's 1st funding round was a Series B of $55M, raised on Nov 06, 2000.
What does Upromise do?
Online platform offering rewards points. It enables its members to earn cashback for college across shopping online, eating at restaurants, booking travel, and picking up groceries, drug store items, health fitness, etc. The company also provides information to students and their parents to make decisions on money matters, college planning, and education.
Who are the top competitors of Upromise?
Upromise's top competitors include Ibotta, LivingSocial and Mobee.
Who are Upromise's investors?
Upromise has 8 investors. Key investors include Goldman Sachs, Kleiner Perkins, Sallie Mae, General Atlantic, and Prodege.