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UpKeep Bags USD 36 Million in Series B Round of Financing

By HR Tech Outlook | Friday, May 15, 2020

Since its Series A funding in 2018, the company has continued to see rapid growth across users and its customer base. Over 10 million work orders have been created on the UpKeep app and has over 400,000 users

Fremont, CA: Maintenance and operations platform company UpKeep raised USD 36 million in Series B round of financing led by Insight Partners with participation from existing investors Emergence Capital, Battery Ventures, Y Combinator, Mucker Capital, and Fundersclub. The company offers an award-winning platform for maintenance and operations teams. UpKeep is transforming the way frontline and deskless technicians manage their work and collaborate by replacing tedious paperwork and outdated systems with an easy-to-use mobile app.

"At UpKeep, we know maintenance and facility managers are typically only thought of when something at a facility is broken so badly that it's out of commission," said Ryan Chan, UpKeep founder, and CEO. "The truth is, maintenance and facility workers are part of the backbone of every industry, in every country in the world. They make a huge impact on all of our lives, every single day, whether we're aware of it or not - and that's never been more apparent than now as they work on the frontlines of the COVID-19 crisis. Today, and every day, our commitment is to serve these maintenance workers as they lead the charge molding the post-COVID world around us."

Top 10 Workforce Management Consulting/Service Companies - 2020Since its Series A funding in 2018, the company has continued to see rapid growth across users and its customer base. Over 10 million work orders have been created on the UpKeep app and have over 400,000 users. The company was ranked as the Number 1 Maintenance Management Software by Capterra/Gartner. "COVID-19 is bringing the importance of maintenance into the spotlight, underscoring UpKeep's mission. We are incredibly proud to support Ryan and his team at this critical time as they build out their platform and expedite offerings to help their customers navigate post-pandemic realities," said Deven Parekh, Managing Director at Insight Partners. "We believe UpKeep will continue to be instrumental to the industries and people that keep our world safe and running."

UpKeep's customers span spread across 61 countries and range from local small businesses to large corporations, including many essential industries such as manufacturing plants, hospitals, and wastewater treatment facilities. Some of the notable brands include Unilever, Siemens, DHL, Thermo Fisher Scientific, McDonald's, and Jet.com.

"When we first met Ryan, we were impressed by his passion for changing the lives of deskless workers in maintenance and operations functions. He and the rest of the UpKeep team are, for the first time, bringing great software to this important part of the workforce," said Kevin Spain, Founding General Partner at Emergence Capital. "We are proud of UpKeep for the incredible growth they've experienced so far and are excited about what this round will allow them to build for their customers."

See also: Top HR Tech Companies

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