Upwell is a technology company.
Upwell has raised $7.0M across 1 funding round.
Upwell has raised $7.0M in total across 1 funding round.
Upwell is a B2B SaaS company providing AI-powered accounts receivable (AR) automation software designed specifically for the logistics and supply chain industry.[1][2][6] Its platform automates the order-to-cash (O2C) process, including invoice auditing, exception resolution, payment processing, collections, reconciliation, and predictive cash flow analytics, integrating seamlessly with Transportation Management Systems (TMS), ERP, and accounting tools to reduce disputes, lower Days Sales Outstanding (DSOs), and improve cash flow for logistics firms handling high-volume freight billing.[1][2][3][6] With $6.5 million in recent seed funding bringing total capital to $10 million since 2023, Upwell reports $6.5 million in revenue and serves a $10 billion+ total addressable market amid growing demand for logistics automation.[1][2][4]
The company targets logistics companies grappling with outdated manual processes in an $800 billion freight spend sector, offering features like AI-driven pre-invoice auditing, multi-payment options, automated reminders, and real-time exception handling to cut costs, minimize errors, and enhance customer experience.[1][2][6]
Founded in 2017 and headquartered in Omaha, Nebraska, Upwell was officially launched in 2023 by co-founders CEO Charley Dehoney and CTO Aaron Freeman to address AR inefficiencies Dehoney observed firsthand in logistics.[1][4] Dehoney, originally from California, built his career in the sector starting in sales, later running and investing in companies like Manning’s Truck Brokerage (acquired as Fitzmark in 2019) and serving as VP of ZEBOX America, a supply chain startup incubator, from 2021-2023.[4] Frustrated by manual data entry errors, fragmented systems, and slow collections in freight billing—problems he encountered as an operator—Dehoney started Upwell to automate these pain points using AI, leveraging Omaha's logistics hub status for partnerships and talent.[1][4]
Early traction came from Nebraska's startup ecosystem, including customers like Werner Enterprises, and culminated in a $6.5 million seed round in February 2025 led by Vertical Venture Partners, with participation from Automotive Ventures’ Mobility Fund II, Plug and Play Ventures, Black Dog Ventures, Neverlift Ventures, and prior investors like NVP, SaaS Ventures, Rise of the Rest, Invest Nebraska, and Motivate Ventures.[2][4] This funding supports product development, customer acquisition, and growth in Omaha, where Dehoney aims to build a lasting innovation ecosystem.[4]
Upwell rides the wave of AI-driven logistics automation, targeting a sector where $800B+ in freight spend is bogged down by siloed TMS, payment portals, and manual AR processes that lock up capital and inflate costs.[2][4][6] Timing is ideal amid post-pandemic supply chain disruptions, e-commerce growth, and AI adoption, with market forces like rising freight volumes and regulatory pressures favoring efficient billing solutions in a $10B+ TAM.[1][2] By enabling faster cash flow and data analytics, Upwell influences the ecosystem, partnering with Nebraska incumbents like Werner to modernize legacy operations and foster startup innovation in logistics hubs, potentially reducing industry-wide inefficiencies and attracting talent/investment to regions like Omaha.[3][4]
Upwell is poised for accelerated expansion with its recent seed funding, strong revenue traction, and leadership team's logistics pedigree, likely capturing more market share through deeper TMS integrations and AI enhancements for predictive analytics.[1][2][4] Trends like multimodal logistics, real-time supply chain visibility, and embedded finance will shape its path, amplifying demand as firms digitize AR amid economic volatility. Its influence could evolve by setting standards for AI in freight billing, strengthening Omaha's tech ecosystem, and scaling to adjacent sectors—transforming how logistics companies turn invoices into cash efficiently, much like it already does for early adopters.
Upwell has raised $7.0M in total across 1 funding round.
Upwell's investors include Invest Nebraska.
Upwell has raised $7.0M across 1 funding round. Most recently, it raised $7.0M Seed in February 2025.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Feb 1, 2025 | $7.0M Seed | Invest Nebraska |