UpTo collects US$2 million in venture capital funding
UpTo, a Detroit-based social media startup, announced that they have closed its Series A round of venture capital funding. They state that they have collected up to US$2 million in the funding round.
The 2-year-old social media venture began its operations in 2011 with around US$875,000 gathered in its seed capital round. Since then, the firm has increased its operations to include four interns and nine employees who work in the firm's offices. The social media enterprise has hired six people over the past 12 months and has openings for specialists in software development, sales, and marketing proof that the company was indeed growing.
"We're excited about the opportunity to continue growing our business and update our consumer platform," UpTo co-founder & CEO, Greg Schwartz, said.
UpTo's unique software platform opens up its people's calendar to social media. This platform allows users to connect with family and friends by notifying them where the users anticipate to be in the near future. UpTo basically focuses on the immediate future while other social media startups, such as Facebook and Four Square, place emphasis on the recent past.
UpTo is now improving its platform to make it a day-to-day calendar so it can incorporate a user's varied interests, such as concerts or sporting events."We see it as an opportunity to redefine what is a calendar is used for," said Schwartz.
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