Upgrade

Venture-backed company · Stage unknown
Rounds on record
1
Latest round
Oct 16, 2025
Funding round
Latest round size
$165M
More
Ask DFX about thisView relationshipsFinancing historyInvestorsOwnership and outcomes
As of · the latest observation of this company; each round carries its own date

1 additional relationship, 1 additional investor

Every relationship, signal and contact on this record, with the source on each.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

What matters now

  1. $165M
    announced

    Announced a $165M round on 16 Oct 2025.

    A company that just raised has fresh capital, a new board and new vendors to choose.

    FactPress release wires (PR Newswire, GlobeNewswire)For Investors, lenders, service providersFinancing history →
  2. 4 investors
    named

    4 investors on record;

    The investors already on the cap table shape who leads the next round.

    Factfunding announcements, portfolio pages and Form DFor Investors, foundersInvestors →
Drawing the relationship network…

Facts

Year of incorporation
unknown
Revenue range (Form D)
unknown
Rounds on record
1
Disclosed raised
$165Msum of rounds with a disclosed amount only
Named investors
4

Financing history

1 round
  1. Oct 16, 2025
    Funding round · $165M (disclosed)
    Neuberger Berman Funds (lead)LuminArx Capital Management** (participant)Neuberger Berman Funds (lead)
    Fact Press release · “Upgrade Raises $165 Million Equity Investment”

Who would invest

4 investors on record, then the firms most like them

Already invested

4 investors on record

Strong comparable investors

0 firms

Firms that backed two or more of the companies this company's own investors also back.

No firm backed two or more of the companies this company's investors back, so there is no comparable investor on record yet.

Broader fit

3 firms

Firms that co-invest repeatedly with this company's investors and dated a new company in the last 12 months.

  1. Sequoia Capital
    • Co-invested 5 times with 1 of this company's investors
    • Has joined rounds of over $150M (6 on record)
    • 12 new companies dated in the last 12 months, latest Sep 11, 2026
    • Led 25% of 12 rounds whose lead is known
    • Followed on in 7% of its companies
  2. Institutional Venture
    • Co-invested 4 times with 1 of this company's investors
    • 1 new company dated in the last 12 months, latest Jul 29, 2026
    • 6 funds raising or deploying (newest vintage 2024)
  3. Menlo Ventures
    • Co-invested 4 times with 1 of this company's investors
    • Has joined rounds of over $150M (6 on record)
    • 14 new companies dated in the last 12 months, latest Sep 17, 2026
    • Led 53% of 19 rounds whose lead is known
    • Followed on in 21% of its companies

Ownership and outcomes

none on record
Outcome stated by investors

Listed on 1 firm portfolio page; none states an outcome (acquired, public, exited or active). DFX does not assume the company is active.

Evidence: 1 listingeach firm's own card, as read
No later owner or exit on record: no private equity sponsor position and no acquisition, listing or IPO report names this company.

Credit relationships

4 positions in BDC schedules, matched to this company

People

0 officers, 0 directors
No officer or director on record.

Timeline

1 event
  1. Oct 16, 2025
    Upgrade announced Funding round of $165,000,000, led by Neuberger Berman Funds SAN FRANCISCO
    Round announced Fact Press release

Evidence

3 observations
Every observation on this company
  • Listed on portfolio page: Firstmark Capital, LLC Sep 16, 2026 Fact Firm website
  • Listed on portfolio page: Firstmark Capital, LLC Sep 12, 2026 Fact Firm website
  • Round announced: Funding round $165,000,000 Oct 16, 2025 Fact Press release

Record history

2 identity changes, 2 dated events on the change ledger, latest event first
  • Event retracted
    2026-09-30
  • Portfolio entry removed
    2026-09-30source on record
  • Renamed
    2026-09-13

+1 more change on this record's ledger

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.