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UpSmith funding, valuation and investors
AI and rewards software helping HVAC, plumbing, and electrical contractors grow revenue.
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Funding, valuation & investors
Answer-first snapshotLatest funding
Seed
$5M · January 2024
Latest known valuation
Not publicly disclosed
Total disclosed equity funding
$5M
Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.
Current status
private
seed · Dallas, Texas
Investors in latest funding
Lead: Hannah Grey VC
Overview
UpSmith builds software for home-services contractors — HVAC, plumbing, electrical — combining AI-assisted sales tools with employee rewards (Boost) tied to revenue KPIs. The platform integrates with contractor ERPs and field-service systems to help technicians upsell maintenance plans and track performance. Founded in Dallas, UpSmith raised a $5M seed in January 2024 led by Hannah Grey VC with Andreessen Horowitz and Asymmetric Capital Partners participating, following a16z pre-seed support in 2022.
Why UpSmith is interesting
Skilled-trades labor shortage meets ERP-integrated productivity — Boost product ties field incentives to business KPIs for home-services contractors.
Product & use cases
UpSmith's Boost rewards platform incentivizes field technicians to hit sales and service targets, while AI tools assist with customer communication and upsell recommendations. Integrations with ServiceTitan-class ERPs position UpSmith as a revenue layer on top of existing contractor ops stacks.
- HVAC companies incentivizing technicians to sell maintenance agreements in the field
- Plumbing contractors using AI-assisted follow-up to convert service calls to memberships
- Multi-location home-services businesses standardizing performance rewards across crews
Key facts
- Seed (Jan 2024): $5M led by Hannah Grey VC; a16z and Asymmetric Capital Partners participated — company blog
- Pre-seed (2022): a16z participated — Tracxn
- Boost rewards product ties field technician incentives to contractor revenue KPIs
Funding history (newest first)
Seed
2024-01 $5M- Hannah Grey VC (lead)
- Andreessen Horowitz (participant)
- Asymmetric Capital Partners (participant)
Investors in our directory
Funds linked from UpSmith's profile — open a fund page for stage focus and related deal articles.
Competitive landscape
Edge: UpSmith combines gamified rewards with ERP integrations specifically for trades contractors — a niche ServiceTitan partners and generic sales tools underserve compared to retail or SaaS verticals.
Home-services software is ServiceTitan's kingdom; best startups integrate rather than rip-and-replace. UpSmith's wedge is technician motivation and AI upsell — problems ERPs bolt on late. Labor shortage makes retention and productivity ROI tangible. Risk: ServiceTitan building native rewards; dependency on integration APIs.
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ServiceTitan adjacent
Dominant contractor ERP; UpSmith integrates as a revenue/rewards layer rather than replacing core ops.
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Housecall Pro adjacent
SMB field-service software; UpSmith focuses on incentives and AI upsell vs. scheduling and dispatch.
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Ambition adjacent
Generic sales gamification; UpSmith is trades-specific with field-service integrations.
Notable stories
- UpSmith's Boost product emerged from founders observing that HVAC and plumbing contractors struggled to motivate field techs to sell memberships despite strong demand (company blog).
- a16z backed UpSmith at pre-seed before Hannah Grey led the 2024 seed — early conviction in skilled-trades software.
Industries
Related funding articles
Venture Capital Tracker pieces that cover UpSmith's financing or category context.
FAQs about UpSmith
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