NEW YORK — Global growth equity firm Level Equity has made a strategic investment in Upshop, a food retail omnichannel technology platform.

Prairie Capital and existing shareholders will keep a minority investment in the company, Upshop said.

According to Upshop, its Software as a Service (SaaS) platform is used in more than 30,000 stores by more than 150 retailers, including Kroger and Wegmans.

"Our vision for a connected store is now a reality, and it's working,” said Shamus Hines, CEO of Upshop. “We've become the trusted partner for major players in the industry, a testament to our commitment to excellence and innovation."

Through the company’s partnership with Level Equity, Upshop plans to focus on areas for growth such as speeding up innovation and increasing investment in its products and technology.

"We have consistently done well supporting category-leading, system-of-record software innovators like Upshop,” said Ben Levin, co-founder and CEO of Level Equity. “Upshop's innovative solutions, dedication to leveling-up the market and demonstrated ability to execute a successful acquisition strategy while simultaneously accelerating both organic growth and profitability is a potent combination."

"We have closely tracked the explosive demand for technology that can help food retailers do more with less,” said Sarah Sommer, co-founder and partner of Level Equity. “The labor challenge is real, and retailers are under pressure to empower associates and maximize their stores. Technology is the unlock and we are thrilled to join forces with Shamus to help Upshop continue to enhance and grow their immense potential to solve this industry challenge."

Upshop’s current benefits to retailers include:

  • Elimination of eCommerce order substitutions
  • 1Ox labor outcomes
  • Reduction in on-hand inventory and shrink by 3x

Upshop’s future goals for 2024 include:

  • Provide its customers with a proprietary adoption playbook
  • Ensure customers unlock more value as they embrace the platform

"Our customers need us more than ever, and we are committed to delivering unmatched value,” Hine said. “The future of food retail is connected, and Upshop is leading the way."