Uptake

Uptake

AI software for predictive maintenance solutions

About Uptake

Simplify's Rating
Why Uptake is rated
B+
Rated B on Competitive Edge
Rated B on Growth Potential
Rated A on Rating Differentiation

Industries

Industrial & Manufacturing

Enterprise Software

AI & Machine Learning

Company Size

51-200

Company Stage

Series D

Total Funding

$251M

Headquarters

Chicago, Illinois

Founded

2014

Overview

Uptake specializes in AI-driven software solutions designed for heavy industries, focusing on optimizing asset performance through data analysis. The company monitors over 1.3 million industrial machines, utilizing machine learning and failure data to predict equipment failures and enhance maintenance schedules. This helps clients, including steel manufacturers and logistics companies, reduce unplanned downtime and save on maintenance costs. Uptake's software integrates with existing systems, providing tailored analytics and predictive maintenance services. Unlike competitors, Uptake emphasizes measurable cost savings and improved equipment availability, aiming to maximize asset performance for its clients.

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Simplify's Take

What believers are saying

  • Partnership with Doran Manufacturing enhances tire safety and fuel efficiency for fleets.
  • Collaboration with Daimler Truck North America offers predictive analytics as a service.
  • Merger with Texada Software creates a new SaaS platform for equipment management.

What critics are saying

  • Increased repair times may affect Uptake's value proposition for trucking clients.
  • Potential freight recession could lead to budget cuts in maintenance spending.
  • Integration challenges from the Texada merger may disrupt service delivery.

What makes Uptake unique

  • Uptake leverages 2.4 billion hours of machine learning data for predictive analytics.
  • The platform serves diverse industries, including healthcare, logistics, and mining.
  • Uptake's software monitors over 1.3 million industrial machines for optimized performance.

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Funding

Total Funding

$251M

Above

Industry Average

Funded Over

4 Rounds

Notable Investors:
Series D funding is typically for companies that are already well-established but need more funding to continue their growth. This round is often used to stabilize the company or prepare for an IPO.
Series D Funding Comparison
Above Average

Industry standards

$77M
$70M
Twilio
$80M
Handshake
$100M
Affirm
$117M
Uptake

Benefits

Time Away - Need a mental break? Go ahead, take it! Here at Uptake we practice mindfulness. We expect you to know when and how you operate at your best. We also trust you to know what time off you need, and to not leave your team members hanging in the process.

Continuous Learning - We’re on a constant quest to learn. Join us! Enroll in internal classes or external events of your choice. Our professional and personal development program is always growing. From data science 101 to hackathons. From public speaking to conscious leadership.

Holistic Health - Being healthy means something different for everyone. We advocate well-being inside and out. We offer gym and studio discounts as well as on-site finance, massage, and meditation classes.

Progressive Benefits - We’re proud to offer medical, dental, vision, life and disability insurance - in addition to health savings accounts, flexible spending accounts and commuter spending accounts. And Uptake doesn’t just offer a 401(k) - we offer a match as well.

Family Oriented - We’re all about family. We provide parental leave for primary and secondary caregivers – birth or adoption. Our medical plan even offers a Special Beginnings program to get expectant parents and their children off to a healthy start with ongoing education, guidance and support.

Uptake University - We launched our own in-house education program to promote ongoing learning and development. All of our employees have access to Uptake U. Choose from a diverse array of course topics and material, enroll for intriguing classes that compel you, and track your progress throughout.

Communities@Uptake - Our culture is diverse and inclusive. All Uptakers can be their unique selves at work. Our employee-led communities bring together people who are passionate about a common cause, including Engineering Alliance, Latinx, Open Source Software, Parents, Pride, Science, and Women. All actively give back to the Chicago community

Social Responsibility - We invest our time, talent and energy into our philanthropic and civic innovation arm. We create real solutions that help nonprofits and civic organizations solve problems in the social sector. Join us by participating in projects, mentoring data fellows and engaging in meaningful volunteerism.

Growth & Insights and Company News

Headcount

6 month growth

-3%

1 year growth

-4%

2 year growth

-6%
Tire Review
Nov 24th, 2024
Doran Manufacturing, Uptake Technologies partner on analytics, TPMS integration

Doran Manufacturing has partnered with Uptake Technologies and is aiming to improve tire safety and fuel efficiency for fleets of all sizes by integrating Uptake Analytics with Doran 360 TPMS.

FreightWaves
Nov 21st, 2024
Uptake Technologies Ceo Sees Power In Ai For Fleet Owners

Adam McElhinney, the CEO of Uptake Technologies, a predictive analytics company, said he expects more companies will turn to the power of AI over the next decade to optimize data, leading to more informed decisions.Speaking with FreightWaves CEO Craig Fuller on Thursday at FreightWaves’ F3: Future of Freight Festival, McElhinney discussed the future of AI in logistics. McElhinney’s company helps businesses transform data into insights that help them make better decisions to minimize unexpected downtime.McElhinney, who has been working in machine learning for 20 years, said AI is here to stay and will be even more deeply integrated into logistics companies within the decade. He recommended companies that are curious about AI consider what problems they hope to solve and determine if AI would be the best solution.“You’re going to see a lot more chat interfaces, voice interfaces,” he said. “You’re going to see all that unstructured data that we’re all sitting on — work orders, random Excel files, documents — become queryable, identifiable, and all that will have a positive impact on the industry in general.”He pointed out large language models (LLMs) as an opportunity for fleets. Important data about trucks can be hidden in the comments, notes and messages that go back and forth in a company, rather than just work orders themselves. The LLM can examine and structure that data in a searchable way, which McElhinney said enables customers to use their own data to predict failures or breakdowns — leading to big savings by avoiding unexpected costs. McElhinney also said AI can be handy for search

FreightWaves
Apr 27th, 2023
White Paper: Find Freedom From Unplanned Breakdowns

The American Trucking Associations’ Technology and Maintenance Council (TMC) recently published a report on average standard repair times for many common repairs. Significant increases were shown for the majority of those repairs. While these repairs increase costs and labor for fleets, they also contribute to supply chain delays, driver turnover, roadside breakdowns and the loss of customers.FreightWaves teamed up with Uptake to survey carriers about their experiences with unplanned breakdowns, preventive maintenance and emerging predictive maintenance solutions. The duo sought to better understand fleets’ most common pain points, as well as their existing attitudes surrounding the implementation and advancement of the modern predictive maintenance model.Complete the form below to download the full report

FreightWaves
Feb 17th, 2023
How Long Will Incentives Charge The Electric Vehicle Industry?

California and its generous voucher program and subsidies available through the Inflation Reduction Act provide a comfort zone for electric truck purchases that wouldn’t exist without them.How long will incentives be needed? It’s going to be awhile.“We definitely need the incentive money right now to help lower the cost,” Salim Youssefzadeh, CEO and founder of startup Truck-as-a-Service WattEV, told me. “Long term, we have to see prices of these trucks come down. We have to see prices of the charging equipment come down.”That requires economies of scale. At least 1,000 Class 8 electric trucks, he said. But it’s probably more than that.Volvo Trucks North America, Paccar and Daimler Truck North America are building Class 8 electric trucks on regular production lines now. Daimler’s is a dedicated line in Portland, Oregon

Truck News
Feb 15th, 2023
DTNA offering predictive analytics through Uptake

Daimler Truck North America (DTNA) is working with Uptake to provide predictive analytics through a data-as-a-service (DaaS) model.

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