Revolutionizing the Future of Online Sales AI-Powered Transformation in Retail with Upp.’s Seed Funding
In an exciting advancement for the online retail industry, Upp., a leading London-based tech enterprise specializing in artificial intelligence (AI) and machine learning (ML) driven solutions, has successfully secured $10 million in a Seed funding round. The round was spearheaded by Bonfire Ventures, an acclaimed California-based venture capital firm recognized for its support of trailblazing B2B software founders.
Upp.’s flagship platform, Upp.AI, is an innovative application that uses advanced AI and ML algorithms to transform how retailers market and sell their products online. It provides a comprehensive analysis of data, enabling intelligent ad spend optimization, product discovery enhancement, and a boost in eCommerce sales. A significant impact of Upp.AI has been on Google Ads management, where retailers have recorded a remarkable 52% uplift in Google channel sales within the first year of its utilization.
The brains behind Upp. include accomplished tech entrepreneur Ben White, Co-Founder and Chairman, and Drew Smith, Co-Founder and lead architect of Upp.AI. White’s success story includes building and selling MessageLabs, which was acquired by Symantec in 2008 for a massive $800 million.
Upp.AI has already gained the trust of several leading retailers including Charles Tyrwhitt, Onbuy, Roman Originals, and Nkuku, with the platform operating across the United Kingdom, Europe, and the United States.
Investors have demonstrated firm confidence in Upp.’s distinctive approach and the recent Seed funding round, which was led by Bonfire Ventures and backed by numerous significant technology angel investors. Bonfire Ventures, renowned for endorsing transformative B2B software founders, acknowledged the unique solution Upp. provides in the dynamic and rapidly evolving eCommerce industry.
In the words of Ben White, Upp.’s Co-Founder and Chairman, “The scale and complexity of today’s online retail environment has extended beyond the capability of humans alone and needs the support of powerful AI and machine learning technology. The Upp.AI platform enables retailers to excel in a competitive landscape, achieve better results around the clock and align their finance and marketing goals seamlessly.”
Over the next year, Upp. plans to utilize this investment to accelerate the growth of its sales and marketing functions, expand its geographic reach, and launch new automation solutions for retailers.
Joe Irons, Chief Marketing and Sales Officer at Charles Tyrwhitt, affirmed Upp.’s pivotal role in their global online marketing strategies, particularly emphasizing the assistance provided in scaling their marketing efforts across Google Performance Max.
Mark Mullen, Co-Founder of Bonfire Ventures, is optimistic about Upp.’s future, stating, “We believe that Upp. is the future of online sales. The company’s platform is incredibly powerful and has the potential to revolutionize the way retailers market, price and sell their products online.”
Upp., founded in 2019 by Ben White and Drew Smith, has rapidly positioned itself as a pioneer in automating online marketing for retailers. To learn more about Upp. and its transformative AI and ML-driven solutions, visit www.upp.ai.
For more information about Bonfire Ventures and its investment portfolio, visit www.bonfirevc.com.