United States · Funded startup

Who invested in Upland Software

4 rounds we have observed, with the 5 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Cloud

Funding summaryUpdated 26 Oct 2026

$275Mraised across 4 rounds since 2008, from 4 sources

$3.5MVenture$12MVenture$20MGrowth$240MDebt

Latest round: Debt, $240MJul 2025
Step-upi: 12.1×
Investors: 5

See who backed them

The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

200820112014201720202023

$3.5MVenture$12MVenture$20MGrowth$240MDebt

First round: Venture, $3.5M
Biggest round: $240M
Usual gap between rounds: 3.2 years

The rounds

Jul 2025
Debt$240M1 returning
- Activant Capital
Source recorded
Jan 2014
Growth$20M1 new
- Activant Capital
From a historical funding recordSEC filing: $20M sold, first sale Dec 2013
Oct 2010
Venture$12M1 new
- Austin Ventures
From a historical funding record
Jun 2008
Venture$3.5M3 new
- Advent International
- Hudson Ventures
- MMC Financial Services
Reported by xconomy.com

Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

Venture2008Venture2010Growth2014Debt2025

Activant Capital

Austin Ventures

Advent InternationalHudson VenturesMMC Financial Services

Everyone who backed them

Activant CapitalVC firm2rounds

Austin VenturesVC firm1round

Advent InternationalPrivate equity1round

Hudson VenturesGrowth equity1round

MMC Financial Servicesno record of our own yet1round

Missing a round, or an investor who was in one? Tell us.

Also claim to have backed them

These 3 firms list Upland Software as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above.