Upstay
Advanced Solutions for the Hospitality Industry
Company Overview
Snapshot
Founded in June 2019 by Jonathan Shemer, Upstay grew to 11–50 employees. The company raised $1.5 million across one funding round from one investor. In January 2023, Upstay was acquired by Plusgrade, a Canadian traveltech firm.
Business overview
Upstay develops innovative technology solutions for the hospitality industry, specifically targeting hotels. Its core offering is an AI-powered platform designed to optimize inventory, generate new revenue streams, and enhance the guest experience. The company's products focus on automating personalized upsell and cross-sell offers, including room upgrades and ancillary services, to increase revenue and streamline operations for hotels. Upstay operates within the Business Software sector, with a focus on Sales & Marketing Solutions and e-Commerce Tools, serving the Travel & Tourism and Hospitality markets, particularly hotels.
Strategic signal
The acquisition of Upstay by Canadian traveltech firm Plusgrade in January 2023 signals a strategic consolidation within the travel technology sector. This move indicates a growing demand for advanced solutions that enhance ancillary revenue and guest experience in hospitality, validating Upstay's technology and market approach. For investors, this highlights the potential for successful exits in the traveltech space through strategic acquisitions by larger industry players.
Log in to access full profile ›Company Intelligence Q&A
- When was Upstay acquired?
- Upstay was acquired by Plusgrade in January 2023.
- What is Upstay's primary focus?
- Upstay focuses on providing advanced technology solutions to hoteliers to optimize inventory, generate new revenue streams, and enhance guest experiences through AI-powered upsell and cross-sell platforms.
- Who was a co-founder of Upstay?
- Jonathan Shemer was a co-founder of Upstay.
- How much capital did Upstay raise?
- Upstay raised $1.5 million in October 2020 from Spring Ventures in a Seed funding round.
- Which investor participated in Upstay's funding round?
- In October 2020, Spring Ventures participated in Upstay's Seed funding round, which raised $1.5 million.