Upland Software, based in Austin, TX, offers a growing cloud software library that provides choice, flexibility and value for enterprise customers. Its products deliver the 'last mile' plug-in processes, reporting, and job-specific workflows that major cloud platforms and homegrown systems do not provide. The company focuses on specific business challenges across the organization, operating at scale and delivering quick time to value for its 1,800+ enterprise customers. Upland announced a $115 million strategic equity investment from HGGC structured as a new class of convertible preferred stock issued at a premium to Upland's current market price. The capital is intended to capture an attractive M&A opportunity set expected to emerge from the current macroeconomic environment. HGGC's investment also brings additional strategic and operational support to strengthen Upland's go-to-market capability and better leverage its enterprise customer base and product portfolio. Upland Software develops cloud-based management software for large enterprises. Its customer base exceeds 1,200 companies across 50 countries. The company plans to use the new capital to improve its products, enhance customer service and pursue strategic acquisitions. Upland has recently acquired Clickability from Limelight Networks, as well as ComSci and FileBound. It changed its name from PowerSteering Software to Upland Software last May. Founded in 1998 in Cambridge, MA, the company is now based in Austin.

Total raised

$135M

Funding rounds

2

Latest round

Preferred

Latest activity

Jul 2022