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- Uptake Technologies
Uptake Technologies Revenue, Valuation, Funding & Investors
Uptake Technologies is valued at $2.3B as of November 2017, a 23.0x multiple on its last reported $100M revenue.
Last Uptake Technologies valuation
$2.3B
Series D · Nov 2017
Last Uptake Technologies funding round
$117M
Series D · Nov 2017
Uptake Technologies revenue
$100M
Series D · Nov 2017
Key investors in Uptake Technologies
Revolution
GreatPoint Ventures
Revolution Growth
Caterpillar Ventures
New Enterprise Associates
Baillie Gifford
About Uptake Technologies
Uptake Technologies is a predictive analytics software company founded in 2014 by Groupon co-founders Brad Keywell and Eric Lefkofsky. It applies machine learning to sensor data from industrial equipment such as wind turbines, trucks, and fleets to predict failures and optimize maintenance across industries including energy, agriculture, mining, oil and gas, and trucking. Customers have included Berkshire Hathaway Energy, Caterpillar, and Panduit, with the platform used to flag issues such as gearbox faults before they cause costly breakdowns.
Founded
2014
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$100M (Nov 2017)
Valuation
$2.3B (Nov 2017)
Uptake Technologies Valuation
Uptake Technologies is currently valued at $2.3B, based on its Series D in November 2017.
The $117M round was led by Baillie Gifford, with participation from GreatPoint Ventures, Revolution Growth and Revolution.
Uptake Technologies' valuation has grown 2.3x from $1B at its Series B in October 2015 to $2.3B in November 2017, across 3 priced rounds.
Uptake Technologies valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Nov 2017 | Series D | $2.3B | 23.0x |
| Apr 2017 | Series C | $2B | 20.0x |
| Oct 2015 | Series B | $1B | - |
Uptake Technologies Revenue
Uptake Technologies' latest recorded revenue is $100M, as of its Series D in November 2017. At a $2.3B valuation, that implies a 23.0x revenue multiple.
Revenue moved from $100M in April 2017 to $100M in November 2017, while the revenue multiple moved from 20.0x to 23.0x.
Uptake Technologies revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Nov 2017 | $100M | $2.3B | 23.0x | Series D |
| Apr 2017 | $100M | $2B | 20.0x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Uptake Technologies Funding History
Uptake Technologies has raised a total of $258M across 4 funding rounds.
Uptake Technologies' first fundraising round was a $6M Series A in March 2015. The most recent completed round was a $117M Series D in November 2017.
Uptake Technologies funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2017 | Series D | Baillie Gifford (lead); GreatPoint Ventures; Revolution Growth; Revolution | $117M | $2.3B | Uptake Technologies is a predictive analytics software company founded in 2014 by Groupon co-founders Brad Keywell and Eric Lefkofsky, specializing in industrial machine data to predict failures, optimize maintenance, and improve operations across sectors like energy, agriculture, mining, oil & gas, trucking, and more. The platform uses machine learning on sensor data from equipment such as wind turbines, combines, trucks, and fleets to forecast issues, enable early fixes, and provide insights like crop yield predictions or gearbox problems, as demonstrated by MidAmerican Energy saving $250,000 by reducing a repair from $250,000 to $5,000. In November 2017, Uptake closed a $117 million Series D round led by Baillie Gifford, with participation from existing investors Revolution Growth and GreatPoint Ventures, bringing total funding to over $250 million (up to $264 million across reports). The post-money valuation reached $2.3 billion, following a prior February 2017 round at $2 billion, positioning it as a unicorn and the third multibillion-dollar venture for its founders. Funds were earmarked for global expansion, widening adoption of cloud-based analytics, and accelerating growth in heavy industries. At the time, Uptake reported dozens of customers across six continents, including Berkshire Hathaway Energy, Caterpillar, and Panduit, with roughly 800 employees and cash-flow positive status despite being under four years old. A 2017 report indicated annual revenues exceeding $100 million, though exact figures were not publicly disclosed as a private company. It held patents in its technology and competed with giants like GE in predictive analytics for industrial applications. The round highlighted Uptake's traction in addressing untapped needs for industrial giants, delivering real results in machine reliability and competitive edge, with investors like Baillie Gifford emphasizing support for scaling in a massive market opportunity. |
| Apr 2017 | Series C | Revolution (lead); Revolution Growth | $90M | $2B | Uptake Technologies is a predictive analytics software company founded in 2014 that helps industrial businesses in sectors like energy, mining, trucking, and farming improve productivity, reliability, safety, and security by monitoring equipment and predicting failures using cloud-based AI tools. The company competes with giants like GE and serves dozens of customers across six continents, with examples including MidAmerican Energy saving $250,000 by detecting a turbine gearbox issue early. By late 2017, Uptake employed about 800 people and claimed to be cashflow-positive after less than four years in business. Uptake's founders, Brad Keywell and Eric Lefkofsky (also behind Groupon), had previously established multibillion-dollar ventures, marking this as their third. The company focused on unlocking industrial data for operational insights, such as weather and imagery for crop yields or fleet health tracking. In November 2017, Uptake closed a $117 million Series D funding round led by Baillie Gifford, with participation from existing investors Revolution Growth and GreatPoint Ventures, bringing total funding to $263 million. This round valued the company at $2.3 billion post-money. The capital was intended to accelerate global expansion and adoption of its analytics services across eight industrial sectors. |
| Oct 2015 | Series B | GreatPoint Ventures (lead); Lightbank; New Enterprise Associates; Caterpillar Ventures | $45M | $1B | Uptake Technologies is a predictive analytics software company founded in 2014 that helps industrial businesses improve productivity, reliability, safety, and security by monitoring equipment and harnessing industrial data. On October 27, 2015, the company raised $45 million in a venture capital round led by GreatPoint Ventures, with participation from existing investors including New Enterprise Associates and Caterpillar Ventures (via Caterpillar's minority investment announced earlier in March 2015). This round valued Uptake at an estimated $1 billion, marking it as the third unicorn in Illinois. The funding supported Uptake's growth in predictive analytics for heavy industries like oil & gas, mining, and equipment monitoring, aligning with partnerships such as Caterpillar for tracking nearly 3 million pieces of equipment. Prior to this round, Caterpillar's investment aimed at joint development of monitoring systems, completed by mid-2016. Uptake continued expanding post-2015, securing a $40 million Series C extension in February 2017 from Revolution Growth valuing it at $2 billion, followed by a $117 million Series D in November 2017 led by Baillie Gifford at a $2.3 billion post-money valuation, bringing total funding over $250 million. Strategic deals included partnerships with Progress Rail in 2016 for EMD Uptime condition monitoring, Berkshire Hathaway Energy in 2017 for wind turbine tracking, and the U.S. Army in 2018 for Bradley Fighting Vehicles readiness. The company grew to about 800 employees by 2017, focusing on IoT opportunities in industrial sectors. |
| Mar 2015 | Series A | Caterpillar Ventures (lead) | $6M | - | - |
Who has invested in Uptake Technologies?
7 investors have backed Uptake Technologies across its funding rounds, including Revolution, GreatPoint Ventures, Revolution Growth, Caterpillar Ventures, New Enterprise Associates and Baillie Gifford.
Lead investors include Baillie Gifford, Revolution, GreatPoint Ventures and Caterpillar Ventures.
Uptake Technologies Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Oct 2015 | ||
| 2 | Participant | Apr 2017 | ||
| 2 | Lead | Apr 2017 | ||
| 2 | Lead | Mar 2015 | ||
| 1 | Participant | Oct 2015 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Uptake Technologies
Uptake Technologies has acquired 2 companies to date.
Last acquisition by Uptake Technologies was on February 8th 2021. Uptake Technologies acquired ShookIOT for undisclosed valuation.
Latest Acquisitions by Uptake Technologies
| Description | ShookIOT is a platform specializing in digital twin technology for industrial applications. It integrates big data analytics, predictive maintenance tools, machine learning models, and advanced visualization interfaces to optimize operations in manufacturing and IoT environments. Headquartered in Petaling Jaya, Malaysia, the company serves sectors like oil and gas, utilities, and transportation with scalable frameworks that simulate real-time asset performance. | Asset Performance Technologies is a Cincinnati-based developer of the cloud Preventance maintenance optimization software and Asset Strategy Library for plant managers in refining and manufacturing. The platform dynamically adjusts preventive maintenance based on reliability data from SKM systems. Established in 2002, it supports EPRI guidelines for U.S. utilities. |
| HQ Country | ||
| HQ City | Edmonton | Albuquerque, NM |
| Deal Date | 8 Feb 2021 | 16 Apr 2018 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Uptake Technologies acquisitions and their M&A valuation multiples. Start Free Trial | ||
Uptake Technologies Competitors
Uptake Technologies competitors include listed companies like CCC Intelligent Solutions, Vitec Software and Octave Intelligence, and private ones like Celonis, EliseAI and Claroty.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1.1B | $238M | $3.9B | 4.5x | ||
| Publicly listed | $371M | $151M | $1B | 3.5x | ||
| Private | $400M | - | $13B | 32.5x | ||
| Publicly listed | $1.6B | $530M | $5B | 3.3x | ||
| Private | $100M | - | $2.2B | 22.0x | ||
| Private | $200M | - | $3B | 15.0x |
Uptake Technologies Public Comps
Uptake Technologies is still privately-owned, but its public comps include Schrödinger, Shanghai DZH, Tieto, Karooooo, DoubleVerify, Glodon Co, Proto Labs, Privia Health, Business-intelligence and Innodata.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $256M | ($96M) | 7.6x | 7.9x | (20.3x) | (14.0x) | |||
| $123M | ($545K) | 18.1x | - | (4082.3x) | - | |||
| $2.1B | $186M | 1.3x | 1.4x | 15.2x | 7.9x | |||
| $337M | $148M | 6.3x | 5.7x | 14.3x | 13.8x | |||
| $748M | $136M | 2.7x | 2.5x | 14.6x | 7.4x | |||
| $909M | $141M | 1.8x | 1.8x | 11.4x | 9.8x | |||
| $533M | $65M | 3.6x | 3.4x | 29.6x | 21.3x | |||
| $2.1B | $44M | 1.0x | 0.9x | 50.2x | 15.3x | |||
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Common questions about Uptake Technologies
| When was Uptake Technologies founded? | Uptake Technologies was founded in 2014. |
| Where is Uptake Technologies headquartered? | Uptake Technologies is headquartered in United States. |
| Is Uptake Technologies publicly listed? | No, Uptake Technologies is a private, VC-backed company. |
| What is Uptake Technologies' valuation? | Uptake Technologies was last valued at $2.3B in its Series D in November 2017. |
| How much funding has Uptake Technologies raised? | Uptake Technologies has raised $258M across 4 funding rounds. |
| What was Uptake Technologies' last funding round? | Uptake Technologies' last funding round was a $117M Series D in November 2017, led by Baillie Gifford. |
| Who are Uptake Technologies' investors? | Uptake Technologies' investors include GreatPoint Ventures, Revolution Growth, Revolution, Caterpillar Ventures, Lightbank, Baillie Gifford and New Enterprise Associates. |
| What is Uptake Technologies' revenue? | Uptake Technologies' latest recorded revenue is $100M (November 2017). |
| What is Uptake Technologies' revenue multiple? | Uptake Technologies' latest valuation implies a 23.0x revenue multiple ($2.3B valuation on $100M of revenue). |
| Which companies are comparable to Uptake Technologies? | Companies comparable to Uptake Technologies include CCC Intelligent Solutions, Vitec Software, Celonis, Octave Intelligence, EliseAI and Claroty. |
| How many companies has Uptake Technologies acquired? | Uptake Technologies has acquired 2 companies, including ShookIOT and Asset Performance Technologies. |
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