Upside Celebrates Fastest Growth to Date

October 3, 2022

WASHINGTON, D.C., October 3, 2022 — Upside, a retail technology company, has seen unprecedented demand for its product in 2022 as the platform adds more food-related merchant partners. This year user count has increased by 270%, and offer claims have increased by 280%. Merchant adoption has also accelerated in 2022, with a 157% increase in new merchants joining the platform year-over-year, including Casey’s, Coborn's, Domino’s, and Pizza Hut.

“No matter the market condition, we grow,” explained Upside co-founder and CEO Alex Kinnier. “Because every merchant needs more profit and every consumer needs purchasing power. Making meaningful progress in growing our restaurant and grocery partnerships has made our product more valuable to consumers and merchants, and that's reflected in the growth we've seen this year.”

Upside now drives five billion dollars in commerce through its platform each year. 

As a result of a doubling in the number of transactions through the Upside platform, the company has doubled its impact on our communities. That’s: 

  • Double the cash back to app users, at $300 million to date
  • Double the incremental profit to merchants, at $650 million to date
  • Double the environmental impact, at 2.2 million metric tons of carbon offset and 300,000 pounds of food rescued to date

These achievements have also been recognized externally. 

  • Upside raised $165M Series D funding from General Catalyst in March at a $1.5 billion valuation. 
  • Upside has integrated with powerful partners such as Uber, Lyft, Instacart, and several other banking partners.
  • Upside earned the number 2 ranking in Deloitte’s Fast 500 and the number 308 on the  Inc. 5000 list

To keep up with consumer and merchant demand for Upside, the company increased its staff count by 35% since January and recently opened an office in New York City.

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About Upside

‍Upside is a retail technology company on a mission to help communities thrive. Our technology has helped millions of people get more purchasing power on the things they need, and tens of thousands of brick and mortar businesses earn measurable profit. Billions of dollars in commerce runs through the Upside platform every year, and that value goes directly back to our retailers, the consumers they serve, and towards important sustainability initiatives. For more:  

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