Upstay
Advanced Solutions for the Hospitality Industry
Company Overview
Snapshot
Founded in June 2019 by Jonathan Shemer, Upstay operated with 11–50 employees. The company raised a total of $1.5M across one disclosed funding round, attracting one investor. Upstay was acquired by Plusgrade in January 2023.
Business overview
Upstay developed an innovative technology that provides hoteliers with solutions to optimize their inventory, generate new revenue streams, and enhance the guest experience. The company's core product is an AI-powered upsell and cross-sell platform that automates personalized offers to guests. Upstay primarily serves the hospitality industry, specifically hotels, operating within the business software sector, with a focus on sales and marketing solutions and e-commerce tools.
Strategic signal
The acquisition of Upstay by Canadian traveltech firm Plusgrade in January 2023 signals a strategic consolidation within the hospitality technology market. This move indicates a growing demand for advanced solutions that optimize hotel operations and guest experiences, validating Upstay's technology and market approach. For investors, this highlights the potential for successful exits in the traveltech sector through strategic acquisitions by larger industry players.
Log in to access full profile ›Company Intelligence Q&A
- What is Upstay's primary business model?
- Upstay operates on a B2B business model, providing its advanced solutions directly to businesses within the hospitality industry.
- When was Upstay acquired?
- Upstay was acquired by Plusgrade in January 2023. This acquisition led to Upstay's inactive status.
- What is the core technology behind Upstay's platform?
- Upstay's platform leverages Artificial Intelligence, specifically Machine Learning, to power its upsell and cross-sell capabilities for hotels.
- Which investor participated in Upstay's funding round?
- In October 2020, Upstay secured $1.5M in funding from Spring Ventures, its sole disclosed investor.
- What problem does Upstay's solution address for hotels?
- Upstay's solution helps hoteliers optimize their inventory, generate new revenue streams through automated personalized offers, and enhance the overall guest experience.