Upserve
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{{Infobox company
| name = Upserve, Inc.
| logo = Upserve logo.svg
| type = Subsidiary
| key_people = Angus Davis, Josh Kopelman, and Reid Hoffman
| industry = Point of sale
| products = Restaurant point of sale
| homepage = {{url|https://upserve.com}}
| foundation = 2009
| location = Providence, Rhode Island
}}
Upserve, originally Swipely, provides a restaurant management platform which allows independent full-service restaurants to run and manage their entire business. The Platform is made up of restaurant-specific point of sale (POS) software, payments, and analytics, online ordering, loyalty, and marketing tools designed specifically for restaurants. At the center of the Upserve Platform is the cloud-based Upserve POS, a point of sale system that Upserve acquired from Groupon in 2016.[http://www.chicagotribune.com/bluesky/originals/ct-groupon-breadcrumb-upserve-bsi-20160509-story.html "Groupon sells restaurant-tech business Breadcrumb to Upserve"] Chicago Tribune. Retrieved 2018-06-04.
In 2013, Forbes magazine included Swipely in its list of the top 100 “America’s Most Promising Companies.”[https://www.forbes.com/companies/swipely/ “America’s Most Promising Companies.”] Forbes magazine. Feb. 2013 Upserve's former CEO, Angus Davis, was named to Forbes list of “America’s Most Promising CEOs Under 35.”[https://web.archive.org/web/20130209192311/http://www.forbes.com/pictures/elld45jgdk/angus-davis-34-swipely/ “America’s Most Promising CEOs Under 35.”] Forbes magazine In 2017, Upserve received a nine-figure investment from Vista Equity Partners to accelerate the platform's growth.[https://www.forbes.com/sites/brucerogers/2017/08/28/angus-davis-builds-upserve-to-serve-as-management-platform-for-americas-one-million-restaurants/#64a13e0f6858 "Angus Davis Builds Upserve To Serve As Management Platform For America's One Million Restaurants"] Forbes. Retrieved 2018-06-04.
History and services
Upserve, formerly Swipely, was founded in 2009 by Angus Davis, the co-founder of Tellme Networks, which was acquired by Microsoft in 2007.{{cite news|publisher=All Things D|url=http://kara.allthingsd.com/20100511/swipely-nabs-7-5-million-in-series-a-funding-for-social-spending-and-to-attack-blippy/|title=Swipely Nabs $7.5 Million in Series A Funding for Social Spending (And to Attack Blippy!)|author=Kara Swisher|author-link=Kara Swisher|date=2010-05-11}}{{cite news|publisher=NPR Marketplace|url=http://marketplace.publicradio.org/display/web/2010/06/02/pm-social-shopping-sites-high-in-data-value/|title=Social shopping sites high in data value|author=Sally Herships |date=2010-06-02}}{{Cite news|url=https://www.wsj.com/articles/SB117389108729336936?mod=us_business_whats_news|title=Microsoft Purchase Of Tellme Adds Voice To Web Initiative|newspaper=The Wall Street Journal|date=March 15, 2007|access-date=2009-06-01|last1=Vara|first1=Vauhini}} Swipely was formerly a social network in which members shared their purchases with friends.{{cite news|work=TechCrunch|url=https://techcrunch.com/2010/05/11/swipely/|title=You Could See Swipely's $7.5 Million Round On Blippy, But You Won't On Swipely|author=MG Siegler|date=2010-05-11}}{{cite news|newspaper=The Wall Street Journal|url=http://bits.blogs.nytimes.com/2010/05/11/swipely-enters-the-social-shopping-field/|title=Swipely Enters the Social Shopping Field|author=Brad Stone|date=2010-05-11}}{{cite news|newspaper=The Washington Post|url=https://www.washingtonpost.com/wp-dyn/content/article/2010/05/21/AR2010052104951_2.html |title=In shoppers' online networks, privacy has no price tag|author=Ylan Q. Mui|date=2010-05-22}}
In February 2011, Swipely evolved into a loyalty platform for local merchants to reward repeat customers.Alspach, Kyle. [http://www.bizjournals.com/boston/blog/startups/2011/12/swipely-vs-levelup-battle-in-boston.html “Swipely vs. LevelUp: Battle in Boston Over Customer Loyalty Tech.”] Boston Business Journal. Dec. 15, 2011 In 2016, Swipely acquired Breadcrumb POS from Groupon and re-branded to Upserve in order to reflect its offering of a comprehensive management system for the restaurant industry.{{Cite web|url=http://www.providencejournal.com/article/20160307/NEWS/160309485|title=Providence's data company Swipely now Upserve, reflecting focus on restaurateurs|last=Bramson|first=Kate|website=The Providence Journal|access-date=2016-03-17}}
In 2017, Upserve expanded its Restaurant Management Platform by offering integrated online ordering through a partnership with Grubhub, as well as its own online ordering solution.[http://www.chicagotribune.com/bluesky/originals/ct-grubhub-oracle-hospitality-integration-bsi-20170517-story.html "Grubhub pairs with Oracle Hospitality to streamline orders"] Chicago Tribune. Retrieved 2018-06-04. In 2018, Upserve partnered with Resy to produce an industry-first POS integration to streamline reservations and table management.[https://techcrunch.com/2018/04/17/resy-rolls-out-a-new-suite-of-tools-for-restaurants/ "Resy rolls out a new suite of tools for restaurants"] TechCrunch. Retrieved 2018-06-04. Additionally, it introduced Upserve Marketplace, which is a curated hub of integrated restaurant technology for its customers to tie together disparate systems.[https://www.fastcasual.com/news/upserve-offers-seamless-online-ordering-via-partnership-with-breadcrumb-pos/ "Upserve offers seamless online ordering"] Fast Casual. Retrieved 2018-06-04.
In 2020, Upserve was acquired by Lightspeed.{{Cite web|title=Lightspeed Announces Acquisition of Upserve to Further Omnichannel Revolution of American Restaurant Industry|url=https://www.lightspeedhq.com/blog/lightspeed-acquires-upserve/|access-date=2021-03-10|website=Lightspeed HQ|date=December 2020 }}
Financials and expansion
The Providence start-upNesi, Ted. [http://blogs.wpri.com/2012/12/31/watch-executive-suite-with-angus-davis-on-swipely-and-ri/ "Executive Suite."] WPRI Eyewitness News. Dec. 31, 2012 was the first Rhode Island–based software company to raise $7.5 million in Series A venture capital.Lacy, Sarah. [http://pandodaily.com/2012/12/17/swipely-is-processing-250-million-in-payments-all-from-tiny-rhode-island/ “Swipely Is Processing $250m in Payments all from Tiny Rhode Island.”] Pando Daily. Dec. 7, 2012 In 2013, Upserve secured a $12 million Series B investment led by Shasta Ventures and raised a $20 million Series C led by the Pritzker Group[http://fortune.com/2016/05/09/term-sheet-monday-may-9/ "Term Sheet -- Monday, May 9, 2016"] Fortune. Retrieved 2018-06-04. bringing the total funds raised to $40.5 million.[http://www.providencejournal.com/news/20170706/upserve-providences-restaurant-tech-firm-lands-major-investment "Upserve, Providence’s restaurant-tech firm, lands major investment"] Providence Journal. Retrieved 2018-06-04.
In July 2017, Upserve received a strategic investment of more than $100 million from Vista Equity Partners.[http://www.providencejournal.com/news/20170726/competitor-of-ri-restaurant-tech-firm-upserve-raises-101m-in-financing "Competitor of R.I. restaurant tech firm Upserve raises $101M in financing"] Providence Journal. Retrieved 2018-06-04. As of spring of 2018, thousands of restaurants use Upserve to manage relationships with more than 57 million active diners, process over $12 billion in annual sales, and serve over 36 million meals per month.
In 2018, Upserve opened an office in Denver adding to its existing office locations in San Francisco and New York, along with headquarters in Providence, RI.[https://businessden.com/2018/03/13/restaurant-tech-firm-sets-denver-place/ "Restaurant tech firm sets up at Denver Place"] BusinessDen. Retrieved 2018-06-04.
In July 2018, Upserve announced the acquisition of Israel-based inventory management platform SimpleOrder.[https://www.americaninno.com/rhodeisland/rhode-island-startup/upserve-acquires-inventory-management-platform/ "Upserve Acquires Inventory Management Platform"] RhodeIslandInno. Retrieved 2018-07-27.
Recognition
Swipely was named one of Forbes magazine's “America’s Most Promising Companies” in 2013. The company is the first Rhode Island–based firm on this Forbes list.McGowan, Dan. [http://www.foxprovidence.com/dpps/news/local_news/region_1/providence-based-swipely-named-to-forbes-list-of-americas-most-promising-companies_5499770 “Providence-based Swipely Named to Forbes’ List of America’s 'Most Promising Companies'"] WNAC-TV. Feb. 8, 2013 CEO Davis has also been included on the Forbes list of “America’s Most Promising CEOs Under 35.”
Upserve has been featured in New York Times, Forbes, CBS This Morning, Wall Street Journal,[http://webreprints.djreprints.com/4143120516315.html "Vista Invests in Restaurant Software Provider Upserve"] Wall Street Journal. Retrieved 2018-06-04. Inc., Entrepreneur, Boston Globe,[https://www.bostonglobe.com/magazine/2016/05/26/how-restaurants-know-what-you-want-eat-before-you/hnZHM3xCkL1BhX0PKL3tmM/story.html "How restaurants know what you want to eat before you do"] Boston Globe. Retrieved 2018-06-04. Thrillist, BostInno,[https://www.americaninno.com/boston/upserve-gets-more-funding-boston-flying-car-company-acquired/ "Upserve Gets More Funding"] BostInno. Retrieved 2018-06-04. Quartz and RestaurantInsider.
References
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Further reading
- {{cite web | last=Kim | first=Ryan | title=Swipely hits its stride combining payments, analytics and loyalty | publisher=Gigaom | date=December 17, 2012 | url=https://gigaom.com/2012/12/17/swipely-hits-its-stride-combining-payments-analytics-and-loyalty/ | archive-url=https://web.archive.org/web/20121219052031/http://gigaom.com/2012/12/17/swipely-hits-its-stride-combining-payments-analytics-and-loyalty/ | url-status=dead | archive-date=December 19, 2012 | access-date=October 11, 2016}}
- {{cite web | last=Wang | first=Selina | title=Square Gives Loans to Restaurants Outside Network With Upserve | website=Bloomberg | date=August 10, 2016 | url=https://www.bloomberg.com/news/articles/2016-08-10/square-gives-loans-to-restaurants-outside-network-with-upserve | access-date=October 11, 2016}}
- {{cite web | last=Grove | first=Jennifer Van | title=Swipely Swaps Public Purchase-Sharing for Private Savings | publisher=Mashable | date=February 28, 2011 | url=http://mashable.com/2011/02/27/swipely-new-direction/ | access-date=October 11, 2016}}
- {{cite web | last=Martin | first=Dylan | title=Swipely Is Now Upserve & It's Leaning on AI to Make Restaurants Smarter | publisher=BostInno | date=March 7, 2016 | url=http://bostinno.streetwise.co/2016/03/07/restaurant-software-provider-swipely-is-now-called-upserve/ | access-date=October 11, 2016}}
- {{cite news | last=Wilhelm | first=Alex | title=Now Processing $1B Annually, Swipely Announces A Partner Network To Support Growth | work=TechCrunch | date=September 24, 2013 | url=https://techcrunch.com/2013/09/24/now-processing-1b-swipely-announces-a-partner-network-to-support-growth/ | access-date=October 11, 2016}}
External links
- {{Official website|https://upserve.com/}}