Upserve
“Can an independent restaurant POS + payments + analytics platform re-establish itself post-Lightspeed as the operating system for U.S. independent restaurants?”
Founded2009
HQProvidence, RI (historically); Miami, FL (current)
FoundersAngus Davis
Total raised$40.5M pre-acquisition
Latest roundBuyout/LBO (Skyview Equity, 2026)
Valuation$430M (2020 Lightspeed acquisition)
IndustryVertical SaaS / Restaurants
The story
Founded in 2009 as Swipely — a consumer purchase-sharing social app — then pivoted to a restaurant analytics + payments platform serving independent restaurants. Rebranded Upserve in 2014, acquired Breadcrumb POS in 2016 to become a full restaurant OS, and was rolled into Lightspeed's restaurant vertical in 2020. In 2026 Skyview Equity carved Upserve back out of Lightspeed, so the brand runs again as a standalone restaurant POS/management platform (with lingering Lightspeed Restaurant U-Series co-branding in the product).
Product timeline
2009
Founded as Swipely, a purchase-sharing social app· founding
2014
Pivoted from consumer purchase-sharing to restaurant analytics/payments platform· pivot
2016
Rebranded to Upserve and acquired Breadcrumb POS from Groupon· acquisition
2020
Acquired by Lightspeed POS for $430M· acquisition
2026
Acquired by Skyview Equity from Lightspeed· acquisition
Acquisitions
The stack
3 layers disclosed in Upserve’s embedded-finance stack
Payments / PSP
AdyenUpserve Payments (self-operated)
Lending
in the full report
Accounting
in the full report
Accounting gap: significant
5 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.