- UPshow announced it has closed a $10 million venture debt facility. These are the details.
UPshow — a leading in-venue entertainment and marketing platform that develops interactive digital TV networks — announced that it has closed a $10 million venture debt facility. The company plans to use the funds to make strategic investments in its product development and go-to-market engine.
UPshow is known as the first and only marketing and engagement platform for out-of-home venues that delivers hyper-targeted marketing and interactive entertainment alongside a robust suite of analytics tools. And the company has created a revolutionary in-venue network that drives customer and employee behaviors and engagement directly from their mobile devices using hyper-relevant and immersive content.
Prior to the pandemic, UPshow began creating private digital TV networks to engage employees. And in the wake of the pandemic, retail businesses have seen unprecedented workforce challenges, high turnover, and difficulties with training and engagement. As a result, UPshow’s Back-of-House Employee Engagement product has seen growing interest from big QSR hospitality brands that employ large, distributed, and deskless workforces. UPshow is currently progressing pilot programs in this area with Burger King, Buffalo Wild Wings, and Dunkin Donuts.
KEY QUOTES:
“There’s never been a better time to help brick and mortar businesses embrace on-premise digital transformation. We’re seeing increasing demand for our solutions and this capital will help us further accelerate our growth into new markets as we build our brand.”
“It’s been great working with Espresso. We’ve had a close relationship with them for years and appreciate that they’re strategic partners who truly understand our business and the market opportunity we’re going after. Not only that, the non-dilutive venture debt facility from Espresso will improve our strategic flexibility and help us maximize enterprise value.”
— UPshow CEO Adam Hirsen
“Adam and his team have developed the leading technology in this space and are changing the way that restaurant, fitness, and health and wellness venues can engage with customers, patients, and employees. UPshow is disrupting a very large market and we believe it is on course to enjoy very strong growth as it expands into new markets and replaces traditional systems.”
— Espresso Capital Director Mark Gilbert
“We’re delighted to see the progress that UPshow is making as it expands its service offerings to include employee engagement. Partnering with an innovative and trusted capital provider like Espresso to help accelerate that progress made total sense.”
— Dan Malven, Managing Director at 4490 Ventures, who led UPshow’s Series A round
