Upsie has raised $25.0M in total across 3 funding rounds.
Upsie's investors include 8VC, Alumni Ventures, Array Ventures, AV8 Ventures, Bascom Ventures, C2 Investment, Early Light Ventures, Equity Alliance, FirstHand Alliance, Geodesic Capital, Greycroft, Harrison Metal.
Upsie is a technology company founded in 2015 that provides affordable, transparent extended warranty plans for consumer electronics like smartphones, appliances, gaming consoles, and TVs, sold directly via its website and mobile app.[1][2][3][6] It targets everyday consumers frustrated with retailer and manufacturer warranties, offering lower prices (e.g., smartphone plans at $7.99/month), clear terms, 24/7 claim starts, and quick repairs to solve industry issues like high markups (up to 500%), hidden fees, and poor service.[2][3][6] Upsie raised $18.2M in a Series A round in 2021 led by True Ventures, with participation from Concrete Rose VC, Avanta Ventures, Kapor Capital, Samsung Next, and others, fueling marketing and growth; it protects thousands of devices from its Saint Paul, Minnesota headquarters.[1][2]
Upsie was founded in 2015 by Clarence Bethea, who identified inefficiencies in the $48-billion warranty industry after experiencing them personally, prompting a mission to make warranties affordable, simple, and user-friendly.[1][3][4] Initially led by Bethea as CEO, leadership evolved with Will Anderson as current CEO and others like Katie (VP Customer Experience), Chad (VP Growth Marketing), Jame (VP Engineering), and Rob (VP Repair Operations).[2] Early traction came from direct-to-consumer sales via web and app, storing warranty info for easy access; a pivotal moment was the 2021 $18.2M Series A funding, which accelerated marketing amid rising demand for reliable device protection.[1]
Upsie rides the wave of consumer demand for direct, digital-first services in fintech-insurance hybrids, disrupting a $48B extended warranty market rife with distrust from opaque practices.[3] Timing aligns with post-pandemic device reliance (e.g., remote work, VR, fitness bikes) and e-commerce growth, where users seek affordable protection without retail pressure—amplified by smartphone penetration and AAA partnerships.[1][6] Market forces like rising repair costs and sustainability (repair over replace) favor Upsie, influencing the ecosystem by normalizing transparent warranties and pressuring incumbents to improve, while VC backing signals fintech innovation in consumer protection.[1][2]
Upsie is poised to expand smartphone and multi-device plans amid ongoing device upgrade cycles, leveraging tech stack (e.g., Google Ads, app interfaces) for user acquisition and AI-driven claims.[3] Trends like embedded insurance in e-commerce and regulatory scrutiny on warranty transparency will boost its model, potentially through more insurer partnerships or international reach. Despite a concerning BBB note suggesting it may be out of business (unverified against active site and leadership listings), its funding track record and consumer focus position it to capture more market share if operational momentum persists—reinventing warranties as Upsie set out to do from day one.[5][2][1]
Upsie has raised $25.0M across 3 funding rounds. Most recently, it raised $18.0M Series A in May 2021.
