About Upland Software

Upland Software, Inc. (Upland) provides cloud-based software that enable customers to drive digital transformation in various business functions. Marketing: Digital marketing, e-commerce, and customer service teams use the company’s applications to interact with consumers across multiple channels to acquire new customers, drive product and service utilization, resolve issues, and build brand loyalty. The company’s applications deliver value to organizations across a number of use cases, including mobile messaging, mobile application marketing, Voice of the Customer (VOC), email marketing, knowledge management and call center productivity. Sales: Sales teams employ the company’s applications to drive growth through deeper customer engagement, reduced sales cycle times, and improved collaboration between sales, marketing, and other customer-facing functions. The company offers applications that help organizations optimize their sales opportunity and account management processes, coordinate proposal and reference activities, collaborate on the creation and publication of digital content and gain increased control over key sales and marketing workflows, activities and budgets. Contact Center: Customer service and support environments use the company’s applications to enable agents to resolve issues and engage customers. The company offers applications that improve customer experience and reduce call volume and cycle times through customer self-service products and VoC technology that captures customer sentiment in real-time. Upland also offers products that improve call center agent productivity by providing more direct access to knowledge and to customer sentiment thereby improving both inbound call outcomes and proactive outbound success. The company also provides products that deliver knowledge-based, guided workflows for customer service environments supporting complex products in strict regulatory requirements. Additional solutions help call center leadership to manage agent performance and measure real-time performance relative to call resolution and customer sentiment, improve performance through gamification, and gather agent feedback to keep employee engagement high. Knowledge Management: In addition to contact centers, the company provides knowledge management applications to a variety of lines of businesses to improve employee productivity and value by providing more direct access to knowledge. Upland knowledge solutions provide access to time-critical information from within the company’s applications or other systems that exists within an organization and delivers a unified view of all related content. The company also provides products that deliver knowledge-based, guided workflows for customer service environments supporting complex products in strict regulatory requirements. Project Management: Business leaders and project management officers (PMOs) use the company’s applications to optimize project portfolios, balance capacity against demand, improve financial-based decision making, align execution of projects to strategy across large organizations, and manage the project delivery lifecycle. The company’s applications deliver value to project management across a variety of use cases, including continuous improvement, enterprise IT, new product development, and services departments along with industry depth in higher education, public sector, and healthcare IT. Information Technology: Information technology (IT) departments use the company’s applications to manage a variety of IT activities and resources across the enterprise. The company’s applications help information technology departments ensure they are delivering against the objectives of the business by helping them select and prioritize the right investments, gain greater control of resource demand and allocation, and track and report benefit realization. The company’s applications enable executives to gain better insight into IT spending to help prevent cost overruns and understand the nature of consumption. Business Operations: Multiple functional departments use the company’s applications to streamline operations and accelerate business performance across their value chains. Upland solutions in this area range from supply chain collaboration and factory management, back office document and vendor management, to applications that improve sales responsiveness. In addition, the company’s products help operations team compose, automate and exchange documents based on content from existing back-office systems to produce interactive business communications, while maintaining compliance and reducing production costs. Human Resources and Legal: Human resources (HR), legal departments, and law firms use the company’s applications to improve collaboration and operational control and streamline routine processes. The company offers applications that automate document management and workflow, including, contracts, records, and other documentation that require enhanced security and compliance requirements. Other applications support HR-specific workflows, including onboarding, employee management, termination, HR support, and time and expense management. Through a series of acquisitions and integrations, the company has built a diverse family of software applications under the Upland brand. The operating platform the company uses to transform acquired companies in order to maintain a consistently high level of operating performance is called UplandOne. This platform consists of six key areas: The company has institutionalized a set of unique customer commitments and deliverables it calls the Upland Customer Success Program that includes onboarding and training, a dedicated customer success representative, upgraded success plans, virtual user conferences, periodic executive outreach, Net Promoter Score (NPS), and an ongoing customer feedback loop. The company’s approach to research and development (R&D) at Upland is straight-forward: prioritize the customer need, leverage a metrics-driven agile approach with visibility and accountability, and deploy up-to-date development systems and processes to ensure quality and security are built into every step of development. New features are added and prioritized in the company’s product roadmaps, and then fine-tuned, based on direct customer input. Requests from the company’s Premier Success Plan customers are given additional priority weighting for new features and minor issue resolution. Product feedback outlets include customer success account management, virtual user conferences, customer advisory boards, and Upland’s online communities. Through its Professional Services organization, Upland is committed to delivering the most value from a customer’s Upland investment in the shortest possible time. Once the company engages on a project, it dedicates a team to the planning, configuration, integration, launch, administration, and maintenance of the application. Upland Global support includes prioritized issue escalation and resolution; online and phone support; access to a community to share and discuss best practices, support tips, training materials, and custom reports; a knowledge-base with alerts, service recommendations, and troubleshooting content; unlimited case submissions and real-time case updates; and technical support access worldwide. For customers that have more urgent support requirements, Upland Premier Success Plans provide enhanced response times and availability for the most severe support requests. Upland’s products run on an enterprise-class cloud environment - delivering power, reliability, and flexibility. The company utilizes third-party cloud providers for its cloud-based products and move acquired products to third-party cloud providers in connection with its acquisition integration program. The company’s applications are scalable and can support large deployments while maintaining high levels of availability, performance and security levels. Strategy for Growth The key elements of the company’s strategy are to acquire complementary software businesses; improve and enhance applications; increase sales to existing customers; and add new customers. Customers The company services customers ranging from large global corporations and various government agencies, as well as small and medium-sized businesses. The company’s customers operate in a wide variety of industries, including financial services, consulting services, technology, manufacturing, media, telecommunications, government, political, non-profit, healthcare, life sciences, retail and hospitality. Sales The company sells primarily through a direct sales organization consisted of inside sales and field sales personnel. In addition to the company’s direct sales organization, it has an indirect sales organization that sells to distributors and value-added resellers. The company employs a land-and-expand go-to-market strategy. The company’s customer success organization supports its direct sales efforts by managing the post-sale customer lifecycle. Marketing The company’s marketing activities are designed to build awareness of the Upland brand and the solutions it offers, generate thought leadership, and create demand, resulting in leads and opportunities for its sales organizations. The company focuses a significant portion of its marketing activities on its existing customers to drive expansion and cross-sell opportunities. Technology and Operations The company’s cloud-based family of applications utilizes a multi-tenant architecture, and its customers access its applications using a secure Internet connection through a standard web browser. The company’s applications are easy to deploy, highly configurable, scalable, flexible, and secure, and provide its customers with a modern and intuitive user experience. The company has partnered with third-party hosting platforms to provide the hardware and infrastructure necessary to provide its services to its customers. Third-party hosting platform facilities provide 24/7/365 security, biometric access controls, redundant networking, power and environmental systems, and monitoring. Upland Software designs and operates the infrastructure architecture with fully redundant subsystems, highly available configurations, and defense in depth security zones. The company’s applications are built on highly available and modular architectures that balance customer workloads across multiple servers. This allows the company to provide a flexible method for scaling customers without impacting other parts of the architectural environment while maintaining the high levels of uptime its customers require. The company’s family of applications offers high levels of security through logical data segregation of each customer’s data from the data of other customers and through limiting access to its platform to only those individuals authorized by its customers. In addition, sensitive customer data is encrypted ‘at rest’ and ‘in transit’ over secure connections to redundant storage in a secondary location. The company maintains a formal and comprehensive security program designed to help preserve the security and integrity of customer data, protect against security threats or data breaches, and prevent unauthorized access to data. Seasonality The company has historically experienced seasonality in terms of when it enters into customer agreements. The company signs a significantly higher percentage of agreements with new customers, and renew agreements with existing customers, in the fourth quarter of each calendar year, resulting in its cash flow from operations historically being higher in the first quarter(year ended December 2022) of each calendar year than in other quarters. The company expects this seasonality to continue, or possibly increase in the future. Research and Development For the year ended December 31, 2022, the company’s research and development expenses were $46.2 million. History The company was founded in 2010. It was incorporated in Delaware in 2010. The company was formerly knowns as Silverback Acquisition Corporation and changed its name to Silverback Enterprise Group, Inc. in 2011. Further, the company changed its name to Upland Software, Inc. in 2013.