Upserve is a technology company.
Upserve has raised $40.0M across 3 funding rounds.
Upserve has raised $40.0M in total across 3 funding rounds.
Upserve has raised $40.0M in total across 3 funding rounds.
Upserve's investors include Antler, Arrive, Baird Capital, Bam Ventures, Electric Capital, First Round Capital, FJ Labs, Index Ventures, LAUNCH, Lightspeed Venture Partners, NextView Ventures, Nexus Venture Partners.
Upserve is a restaurant management platform originally launched as Swipely, offering point-of-sale (POS) software, payments, analytics, online ordering, loyalty, marketing tools, and integrations tailored for independent full-service restaurants.[1][2][5] It serves restaurateurs by solving operational challenges like sales tracking, inventory management, guest data analysis, and streamlining reservations or ordering through partnerships like Grubhub and Resy.[1][2] Acquired by Lightspeed in 2020 and rebranded as Lightspeed Restaurant (U-Series), it now powers thousands of venues processing billions in sales annually, with strong growth evidenced by over $40 million in funding and expansions into new offices.[1][2][6]
Upserve began in 2009 as Swipely, a general payment processing and data analytics tool for businesses, founded in Providence, Rhode Island.[1][2][6] The team pivoted to focus on restaurants after realizing most users were in hospitality, leading to the rebrand as Upserve.[2][3] A pivotal moment came in 2016 when it acquired Breadcrumb POS from Groupon, establishing its cloud-based POS core.[1][2] Early traction included Rhode Island's first $7.5 million Series A, followed by $12 million Series B (2013), $20 million Series C, and a $100+ million investment from Vista Equity Partners in 2017, totaling $40.5+ million raised.[1][6] Key expansions included the 2018 acquisition of SimpleOrder for inventory management and new offices in Denver, alongside locations in San Francisco, New York, and Providence HQ.[1]
Upserve rides the digital transformation wave in hospitality, accelerated by post-pandemic demands for contactless ordering, data analytics, and omnichannel experiences amid labor shortages and rising competition.[2][4] Its timing capitalized on restaurant tech fragmentation—pivoting from payments to full management when POS systems lagged, then integrating via acquisitions amid e-commerce booms.[1][3] Market forces like cloud adoption and investor interest (e.g., Vista's $100M stake) favor it, positioning Lightspeed/Upserve to influence the ecosystem by powering high-end independents worldwide and enabling partners like Restaurant365 or Stayntouch for unified operations.[4][5][6]
Lightspeed Restaurant (U-Series) will likely expand AI-enhanced analytics, global integrations, and hardware for emerging trends like personalized dining via guest data and sustainable operations tracking.[2][4] As hospitality rebounds with experiential focus, Upserve's momentum—fueled by Lightspeed's resources—positions it to dominate independents, evolving from niche POS to essential backbone amid consolidation in restaurant tech.[1][2] This trajectory reinforces its origin as a data pioneer, empowering restaurateurs to thrive in a data-rich, competitive landscape.
Upserve has raised $40.0M across 3 funding rounds. Most recently, it raised $20.0M Series C in May 2014.