Uptake (business)

Uptake Technologies
Private
Founded 2014
Founders Brad Keywell, Eric Lefkofsky
Headquarters Chicago, Illinois
Number of employees
 300[1]
Website www.uptake.com

Uptake is a predictive analytics SaaS [2] platform provider based in Chicago, Illinois. Co-founded by Brad Keywell and Eric Lefkofsky, Uptake serves to optimize performance, reduce asset failures and enhance safety.[3]

Business

Uptake was incorporated in 2014 and is located in Chicago.

In March 2015, Caterpillar announced its minority investment in Uptake, with the aim of the joint development of systems to monitor and improve use of the nearly 3 million pieces of Caterpillar equipment in the field.[4] Caterpillar anticipates having new Uptake rail service offerings available for customers in early 2016. Offerings for the remainder of Caterpillar's core business are expected to be complete in mid-to-late 2016.[5]

Financing

On October 27, 2015, Uptake announced that it had raised $45 Million in venture capital led by GreatPoint Ventures and existing investors which included New Enterprise Associates and Caterpillar.[6] Uptake estimated to be valued at $1 billion, making it the third unicorn in the state of Illinois.[7]

Awards

Uptake is the recipient of the 2015 Moxie Award for Best New Startup in Chicago.[8] Uptake's co-founder Brad Keywell is the recipient of the 2015 Moxie Award for Best Founder or Co-founder.

Uptake was named Forbes Hottest New Startup in 2015.[9][10]

References

  1. ↑ "How Uptake Beat Slack, Uber to Become 2015' Hottest Startup". Forbes. Retrieved 2015-12-17.
  2. ↑ World, Equipment. "Culture Dash: Inside Caterpillar and Uptake's data-driven race to solve heavy equipment's tech dilemma". www.equipmentworld.com. Retrieved 2016-01-25.
  3. ↑ Yoders, Jeff. "Caterpillar Inc. Invests in Internet-of-Things Startup Uptake, and What It Means for Us| MetalMiner". Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner. Retrieved 2016-01-25.
  4. ↑ "Caterpillar partners with Chicago startup Uptake to build data tools - Chicago Business Journal". Chicago Business Journal.
  5. ↑ "Uptake Named as Hottest Startup of 2015 by Forbes Magazine". www.caterpillar.com. Retrieved 2016-01-11.
  6. ↑ "Midwest Start-up Achieves Rare $1 Billion Valuation." New York Times. October 27, 2015.
  7. ↑ "Chicago-Based Uptake Raises $45 Million, Reportedly Hits Unicorn Status." Chicago Tribune. October 27, 2015.
  8. ↑ "2015 Winners" Moxie Awards. June 2015.
  9. ↑ "How Uptake Beat Slack, Uber To Become 2015's Hottest Startup". Forbes. Retrieved 2015-12-30.
  10. ↑ "The Hottest Startups Of 2015". Forbes. Retrieved 2015-12-30.
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