– USA, IL – Uptake Technologies, a Chicago-based SaaS platform that develops data-driven solutions and predictive analytics for companies in major industries, today announced a $40 million investment by Revolution Growth, led by cofounders Steve Case, Donn Davis, and Ted Leonsis. As part of the investment, Leonsis will join Uptake’s board of directors.
“Uptake is partnering with iconic industrial companies that have yet to fully integrate data analytics to improve business operations,” said Leonsis. “This type of revolutionary data science will create real value for industrial companies by helping them monetize their data, improve safety and more.”
Uptake’s platform enables applications in industries including mining, rail, energy, aviation, retail, and construction, the first vertical launched in collaboration with Caterpillar following Uptake’s founding in 2014.
Incorporating massive enterprise and external data sets, advanced machine learning and next-generation security features, Uptake applications provide enterprise-wide insights, such as predictive diagnostics and fleet optimization that generate significant cost savings and improve productivity, reliability, and safety.
With its rail solution, for example, Uptake helps customers manage locomotive maintenance, predicting and preventing major system failures. The solution allows end users to optimize equipment repairs, reducing repeat visits to the repair shop, shortening shop cycle time and eliminating unnecessary repairs by double-digit percentage points.
“Uptake has created a new category of enterprise software called ‘outcomes as a service’, and by delivering actionable insights, we are committing to results and to positive impact for our customers,” said Brad Keywell, CEO and cofounder of Uptake. “We build products on our platform that create measurable value, and we have eliminated integration challenges that have hindered the traditional approach of selling enterprise software.”
About Uptake
Uptake is a predictive analytics SaaS platform that delivers solutions in major industries that increase productivity, reliability, and safety. Leveraging partnerships with industry icons, Uptake’s platform aggregates enterprise and external data and applies cross-industry data science to produce high-value, actionable insights. Uptake’s platform is powered by a continuous feedback loop, recommending impactful actions that are then optimized by human intelligence.
For more information : http://www.uptake.com
About Revolution Growth
Revolution Growth invests in companies that can change the world. Its mission is to build disruptive, innovative businesses that offer consumers more choice, convenience, and control in their lives. By taking a long-term approach and developing strong partnerships with entrepreneurs and management teams, Revolution Growth brings a unique strategy and passion to investing in and building significant companies.
For more information : http://www.revolution.com/growth
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