This is the Upstream pitch deck to raise a $2.8m seed round in 2021.
About
Upstream is the best place to grow your professional community.
Upstream cofounder Alex Taub believes that LinkedIn has “dropped the ball on” several things. Though the platform has become essential for many industries, people rarely go on LinkedIn to actually chat with their connections or attend events in their industry.
His company, Upstream, is here to pick up the slack. The platform, launched by Taub and cofounder Michael Schonfeld in October 2020, is a new professional network that strives to create a genuine community with virtual networking events. The service picked up steam by hosting these events during the pandemic.
Upstream announced it raised $3.25 million, consisting of a $2.5 million seed round led by Ibex Investors and a $750,000 pre-seed round in 2020. Other investors in the seed round include 8-Bit Capital, Human Ventures, Converge Venture Partners, and New York Venture Partners, TechCrunch reported.
The capital comes at a critical juncture for the company. While Upstream gained popularity with its virtual events, it’s unclear if the app’s appeal will remain as the world opens back up.
Taub said they’re adapting Upstream to a post-Covid world by expanding features beyond group events and adding more ways for individual users to connect.
While he predicts things may slow down as restrictions lift, Taub believes working remotely is here to stay.
“People realize they can build a meaningful company from anywhere,” he said.
Global online networking will become “the new normal,” and Upstream’s networking communities will continue to create meaningful connections across the world, he said. He sees a long future for the platform, saying he’s committed to making it the go-to virtual community for professionals.
Funding Rounds
Announced Date
|
Transaction Name | Number of Investors | Money Raised | Lead Investors |
May 19, 2021 | Seed Round – Upstream App | 5 | $2.8M | Ibex Investors |
Jan 1, 2020 | Pre Seed Round – Upstream App | 4 | $750K | — |
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