DALLAS, TX – Today, UpSmith, Inc., the Dallas-based startup reimagining the future of skilled work, announced Boost, a software platform for workforce productivity.
The company also revealed a $5 million capital raise led by Hannah Grey VC, with participation from a16z, GSV Ventures, Asymmetric Capital Partners, Cubit Capital, TechNexus Venture Collaborative, Crow Holdings, Kimbel Mechanical, CIV, Crescent Ridge, and Karman Ventures, among other strategic individuals.
In light of increasing and pressing skilled labor shortages, workforce productivity has become a paramount concern. In November 2023, the Bureau of Labor Statistics reported over one million openings in U.S. construction and manufacturing sectors alone. As the number of skilled workers leaving these professions surpasses those entering each year, growing demand in these industries raises the alarming prospect of these shortages tripling by 2030. This escalation poses a significant risk, exacerbating crisis-level threats in a $2.5 trillion market.
UpSmith is on a mission to combat America’s skilled worker shortages. By using UpSmith’s technology platform, skilled trades companies expand revenue, improve output, and lower costs incurred due to rework and attrition.
Boost is UpSmith’s fast, easy, transparent, and seamless technology for gamifying technician experiences. UpSmith’s technology platform integrates with an employer’s enterprise resource planning (ERP) system to analyze job data in real-time, automating productivity analytics to maximize revenue for contractors and earnings opportunities for skilled workers. Among other use cases, Boost generates rewards for high-priority tasks, measures progress against goals, and drives competition, leading to increased profitability. More in this video explainer.
“Skilled trades businesses are struggling to overcome workforce shortages,” said UpSmith Founder & CEO, Wyatt Smith. “We designed Boost to help them win while creating meaningfully better worker experiences in the process. This is an initial step in a much larger journey for supporting builders who have been historically underserved by technology.”
“The future of work and craftsmanship will be technology-driven,” said Kate Beardsley of Hannah Grey VC. “UpSmith addresses the opportunity through skilled trades pathways, creating workforce opportunities for a new generation of digitally native builders. We are thrilled to invest in their mission.”
Employers interested in partnering to recruit, reward, and retain skilled workers are encouraged to visit UpSmith.com/contact-us to demo Boost and learn more.
About UpSmith
UpSmith is a venture-backed technology company addressing labor shortages, initially focusing on serving skilled trades companies across the United States.
The company develops software to maximize workforce productivity: For every $10 invested in Boost, UpSmith aims to generate $100+ in customer value. For more, visit the UpSmith website, review testimonials on its blog, or email demo@upsmith.com to get started. For media inquiries, contact press@upsmith.com. Media kit (logos and videos) available here.
