UpKeep Technologies, Inc.

UpKeep Technologies, Inc. provides innovative Asset Operations Management solutions, delivering advanced software for maintenance and asset reliability across various industries, enhancing operational efficiency and performance management. Founded in 2014 in Los Angeles, US, UpKeep Technologies, Inc. specializes in offering software solutions for asset management and maintenance operations.

The company was co-founded by James Hu and Jonathan Morales. In May 2020, UpKeep raised USD 36 mn in Series B funding led by Insight Partners, with participation from various investors including Battery Ventures and Y Combinator. The company operates globally, with its headquarters in Los Angeles, and has engaged in 4 investment deals to date. The latest funding round increased UpKeep's total capital raised to USD 36 mn and its valuation to USD 258.

71 mn. UpKeep Technologies, Inc. specializes in Asset Operations Management, offering a comprehensive suite of software solutions designed to enhance maintenance and reliability operations for various industries. The company's core products include a mobile-first Computerized Maintenance Management System (CMMS) and an Enterprise Asset Management (EAM) platform.

These solutions enable teams to effectively manage work orders, preventive maintenance, asset tracking, and inventory management, thus addressing key challenges such as reducing downtime and optimizing asset performance. UpKeep caters to a diverse client base, including organizations in manufacturing, healthcare, education, and hospitality, and serves end-users ranging from maintenance teams to operational managers. The software is available in multiple geographical markets, notably North America, Europe, and parts of Asia. UpKeep operates on a subscription-based revenue model, with clients choosing from several pricing tiers tailored to their specific needs.

The primary offerings include an Essential plan at USD 20 per month per user, designed for teams requiring fundamental asset tracking and preventive maintenance capabilities, and a Premium tier at USD 45 per month per user, aimed at those needing enhanced visibility into machine status and resource management. Additionally, UpKeep provides a Professional plan with custom pricing for organizations seeking advanced analytics and insights to drive maintenance efficiency, as well as an Enterprise plan for larger clients managing multiple locations. Transactions are primarily conducted through B2B engagements, where companies subscribe to the software services for a predetermined duration, ensuring a steady revenue stream tied directly to the value provided through the platform's capabilities. UpKeep Technologies, Inc.

plans to leverage its recent Series B funding, raised in May 2020, to enhance its product offerings and expand into new markets. The company is focused on developing new features for its software solutions to better address customer needs in asset management and maintenance. Plans for geographic expansion include targeting new clients in Europe and parts of Asia by the end of 2022. The funding will support product development and marketing strategies to facilitate this growth.