Upbound Raises $60M in Series B

Upbound has successfully raised $60M in a Series B at a $300M valuation led by Redpoint Ventures, GV, DCVC, Founders Fund.

Company Overview

Upbound is a Cloud Infrastructure company headquartered in 2155 Delaware Avenue, Santa Cruz, CA 95060, founded in 2017 with 100+ employees.

Universal cloud platform

Fundraising Details

Amount Raised: $60M
Round Type: Series B
Valuation: $300M
Date: 2024-07-15
Investors: Redpoint Ventures, GV, DCVC, Founders Fund

About Upbound

Universal cloud platform The company is positioned in the Cloud Infrastructure sector, serving a growing market with innovative solutions.

Key Information

Headquarters: 2155 Delaware Avenue, Santa Cruz, CA 95060
Founded: 2017
Team Size: 100+
Industry: Cloud Infrastructure

What This Means

This funding round demonstrates strong investor confidence in Upbound's vision and execution. The capital will likely be used to:

Scale Operations: Expand the team and operational capacity
Product Development: Enhance existing products and develop new features
Market Expansion: Enter new markets and strengthen presence in existing ones
Technology Investment: Invest in infrastructure and technology capabilities

Industry Context

The Cloud Infrastructure sector continues to attract significant investment as companies innovate to meet evolving market demands. Upbound's successful fundraising reflects the strong fundamentals and growth potential in this space.

Valuation Milestone

Reaching a $300M valuation marks an important milestone for Upbound, positioning the company among notable players in the Cloud Infrastructure industry.

Looking Ahead

With this new capital, Upbound is well-positioned to execute on its growth strategy and continue building innovative solutions in the Cloud Infrastructure space. The company's trajectory will be one to watch as it deploys this funding to achieve its next phase of growth.

This fundraising news was reported on 2024-07-15. For more information about Upbound, visit their headquarters at 2155 Delaware Avenue, Santa Cruz, CA 95060.