AKKO acquires Upsie

AKKO, a startup offering coverage for phones, laptops, and electronics, has acquired Upsie, an extended warranty startup.

Founded in 2013, Upsie publicly disclosed ~$26 million in funding and one notable backer is Avanta Ventures, the VC arm of CSAA. The startup experienced a significant workforce decline, going from ~25 employees in April 2022 to ~5 employees today.

Launched in 2020, AKKO publicly disclosed ~$15 million in funding and it offers a protection bundle for a variety of electronics.

AKKO will integrate Upsie’s Independent Repair Network with its Authorized Repair Provider Network.

“Building Upsie has been an incredible journey in helping hundreds of thousands of customers protect their devices and preserve value. AKKO’s acquisition of the company is the next phase of bringing transparency and affordability to product warranties and device insurance. I’m honored to see Upsie continue its mission with the AKKO team, and I’m indescribably grateful for the experience of growing Upsie from an inkling into what it is today. It was a huge team effort.” – Clarence Bethea, founder of Upsie and investor at True Ventures.

“AKKO’s acquisition of Upsie cements our leadership in modern device insurance. This milestone deepens our market reach and user acquisition, building upon our growth and commitment to ensuring unparalleled value for our partners and clients.” – Eric Schneider, co-founder and co-CEO of AKKO.

“This acquisition marks a pivotal moment for AKKO’s journey in revolutionizing the customer experience in modern device insurance. We’re thrilled to welcome Upsie’s dedicated customers and repair network partners into the AKKO family, enhancing our commitment to delivering exceptional products and services. We’re looking forward to delivering unparalleled value for all customers on the AKKO platform.” – Jared Brier, AKKO co-founder and co-CEO.