Upstream raises a $2.75 million seed round led by Ibex Investors

SaaS News -Upstream-closed-a-$2.75-million-seed-round(source: SaaS Industry)
At a Glance

Upstream, a Miami-based professional networking platform, has raised a $2.75 million seed round led by Ibex Investors. Other participants include 8-Bit Capital, Human Ventures, NYVP, Converge Venture Partners, and angel investors. 

Alexander Taub and Michael Schonfeld, Upstream’s co-founders, are serial entrepreneurs who created and sold Social Rank for an undisclosed sum before launching Upstream in October 2020.

Upstream and LinkedIn have many similarities but have their differences as well.

Unlike LinkedIn, Upstream focuses on creating positive links between its participants. They do so by organizing multimedia gatherings that begin with a keynote speaker and end with five-minute breakout sessions.

Throughout my life, regardless of the job I’ve been in, I spend my time making introductions, connecting people, and helping friends hire rock-star talent. Like many people, I get energy from helping others. When COVID-19 hit, and the job market took a dive last March, the number of requests for help I received increased 100X. I quickly noticed that my speed of responding to emails and brain capacity to connect the dots became the limiting factor in getting people to help.

Alexander Taub

Upstream began as a service where users could inquire for support and get assistance from those in the group. More than 200 communities have been created by Upstream, and around 75% of those that attend an initial Upstream event return for a second.

TI joke that we are building a product that people need because I need it. We feel that we are the right team to solve this problem because we so desperately want it ourselves.

Alexander Taub
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