CHICAGO, Sept. 30, 2021 /PRNewswire/ -- UPshow, the leading in-venue entertainment and marketing platform that develops interactive digital TV networks, announced today that it has closed a $10 million venture debt facility. The company will use the funds to make strategic investments in its product development and go-to-market engine.
"There's never been a better time to help brick and mortar businesses embrace on-premise digital transformation," says UPshow CEO Adam Hirsen. "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."
UPshow is 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. 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.
"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," said Espresso Capital Director Mark Gilbert. "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."
Prior to the pandemic, the Chicago-based business began creating private digital TV networks to engage employees. 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.
"We're delighted to see the progress that UPshow is making as it expands its service offerings to include employee engagement," said Dan Malven, Managing Director at 4490 Ventures, who led UPshow's Series A round. "Partnering with an innovative and trusted capital provider like Espresso to help accelerate that progress made total sense."
"It's been great working with Espresso," said Hirsen. "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 is the leading in-venue entertainment and marketing platform for retail and hospitality businesses that develops interactive digital TV networks. As the first and only provider of interactive digital signage networks, UPshow creates a revolutionary in-venue network that drives customer and employee behaviors directly from their mobile devices. Enterprise businesses in the hospitality, entertainment, fitness and healthcare industries rely on UPshow's plug-and-play technology to create deeper brand engagement and maximize profitability and efficiency. Founded in 2015, UPshow now reaches audiences through more than 25,000 screens in businesses around the world. Learn more at upshow.tv.
About 4490 Ventures
4490 Ventures invests in Connected Software companies. We are a team of investors, founders and operators with more than 100 years of combined experience who bring capital and a network of resources to help entrepreneurs build the next generation of tech companies. We are high conviction, high concentration early-stage investors focused on companies outside of Silicon Valley. For more information, visit 4490Ventures.com, or follow us on LinkedIn.
About Espresso Capital
Espresso empowers companies with innovative venture debt solutions. Since 2009, we've helped more than 300 technology companies and their investors accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital. Learn more at www.espressocapital.com.
Media contact: Lori McInerney, [email protected]