Upshop, a store operations and omnichannel technology platform for food retail, has received a strategic growth investment from New York-based Level Equity.
Prairie Capital and other shareholders will maintain a minority investment in the company.
Upshop’s Software as a Service (SaaS) platform is designed to streamline forecasting, ordering, production and inventory optimization processes for food retailers.
The unified platform enhances employee tasks, fostering smarter and more interconnected operations across fresh, center, DSD and e-commerce departments.
“Our vision for a connected store is now a reality, and it’s working,” said Shamus Hines, Upshop CEO. “We’ve become the trusted partner for major players in the industry, a testament to our commitment to excellence and innovation.”
Level Equity as a partner, Upshop aims to concentrate on crucial areas for growth, such as speeding up innovation and increasing investment in its products and technology. By tapping into Level Equity’s experience in integrated software and retail operations, Upshop is set to boost its market growth.
“We have consistently done well supporting category-leading, system-of-record software innovators like Upshop,” said Ben Levin, co-founder and CEO of Level Equity.
“Upshop’s innovative solutions, dedication to leveling-up the market and demonstrated ability to execute a successful acquisition strategy while simultaneously accelerating both organic growth and profitability is a potent combination.”
Sarah Sommers, Level Equity’s co-founder and partner, said the company has “closely tracked the explosive demand for technology that can help food retailers do more with less.”
“The labor challenge is real, and the retailers are under pressure to empower associates and maximize their stores,” she said. “Technology is the unlock and we are thrilled to join forces with Shamus to help Upshop continue to enhance and grow their immense potential to solve this industry challenge.”
Upshop hopes the investment will poise the company to provide its customers with a proprietary adoption playbook, ensuring they unlock more value as they embrace the platform.
“Our customers need us more than ever, and we are committed to delivering unmatched value,” Hines said.
“The future of food retail is connected, and Upshop is leading the way.”
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