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UpStack Lands $1.8M in Seed Financing

       
NEW YORK, NY, Provider of the world's first global colocation procurement platforma 1.8 million seed funding round.
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UpStack, provider of the world's first global colocation procurement platform, today announced the open-beta launch of its online colocation marketplace. The UpStack Procurement Platform enables IT professionals, systems integrators, and consultants to discover, price and procure colocation solutions across the globe at a fraction of the cost and time required with traditional approaches. Opening the colocation marketplace is phase one of UpStack's launch and will follow shortly after with network services. UpStack counts over 60 customers prior to launch and has been beta testing with leading hyperscale companies as well as quickly growing technology start-ups. This announcement comes on the heels of the company closing a 1.8 million seed funding round.

"Our customers are telling us that the biggest challenge today isn't necessarily the process of finding qualified IT infrastructure providers - it's what happens after those solutions have been identified. Finding a way to extract and level-set the pricing and total costs for each and every solution is a process that historically takes these companies months to complete," said Christopher Trapp, Founder and CEO of UpStack. "Our goal is to simplify the process and eliminate the guesswork by normalizing pricing across each solution. This ultimately saves our customers - both end-users and vendors, an extraordinary amount of time and mitigates the risk of human error. "


The UpStack Procurement Platform aims to address several common pain points in the hybrid IT procurement process, including:

-Time Savings: the colocation marketplace is highly fragmented, and pricing/cost models are confusing and historically opaque. UpStack cuts through the clutter to give IT professionals and their advisors or consultants a clear, accurate and honest view into the global colocation and hybrid cloud ecosystem.
-Cost Analyses: comparing the costs of colocation and network services across multiple data centers is complicated even for the most sophisticated IT and engineering teams. UpStack is the first platform to standardize pricing and additional costs across the entire ecosystem of UpStack partner vendors.
-Lowering Costs: UpStack lowers costs by creating a competitive environment where vendors directly bid for business through the platform. End-users and their consultants are able to negotiate pricing and terms across dozens of vendors directly within the platform to achieve the lowest prices in the market.
- Automated Configure-Price-Quote For Vendors: account executives at partner vendors spend significant time preparing quotes with off-the-shelf quoting tools. UpStack has created a colocation-specific quoting platform that automatically populates vendor quotes with the the specific services requested by leads, and vendors can also opt to fully automate their pricing. This enables sales teams to focus their efforts on opportunities that are further down the sales funnel.


For more information visit: www.UpStack.io.

About UpStack
UpStack is an online platform that helps IT professionals and consultants across the globe find and procure colocation and network services. Our passion is to help businesses drive optimal IT deployments by presenting all options in one place, from single server racks to hyperscale colocation requirements, with real-time pricing and enterprise-grade analytical tools. UpStack's technology makes evaluating and purchasing colocation services simple, decreasing the time and effort it takes to secure solutions. UpStack was founded in 2016 and is based in New York City. For more information, visit www.UpStack.io.
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