Uptake (business)

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Uptake is a predictive analytics SaaS provider whose products and solutions assist with uptime, productivity and safety and cybersecurity. Uptake applies cross-industry data science and machine learning through its insights platform using data to identify patterns and insights that aid operations and growth opportunities. Uptake was co-founded by Brad Keywell and Eric Lefkofsky in Chicago, Illinois in 2014.

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Business

Uptake was incorporated in 2014 and is located in Chicago.

In March 2015, Caterpillar announced its minority investment in Uptake, with the aim of the joint development of systems to monitor and improve use of the nearly 3 million pieces of Caterpillar equipment in the field. Caterpillar's core business offerings were completed in mid 2016. On September 21, 2016, Progress Rail formed a strategic partnership, launching EMD Uptime, with Uptake for condition monitoring. On March 2, 2017, Warren Buffett's Berkshire Hathaway Energy, an $84 billion portfolio of companies primarily in the renewables space, announced a deal with Uptake. Two of BHE's subsidiaries, BHE Renewables and MidAmerican Energy Company, will use Uptake's software to connect and track their fleet of wind turbines.

On March 1, 2017, in collaboration with Boston Consulting Group, Uptake launched a World Economic Forum case study on the future of construction.

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Financing

On October 27, 2015, Uptake announced that it had raised $45 Million in venture capital led by GreatPoint Ventures and existing investors which included New Enterprise Associates and Caterpillar. Uptake estimated to be valued at $1 billion, making it the third unicorn in the state of Illinois. On February 1, 2017 investor Revolution Growth, a firm started by Steve Case, Donn Davis and Ted Leonsis, announced that they would be backing Uptake with $40 million as part of the Series C round. Uptake has been valued at $2 billion.