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Based in New York City, 1UP is an artificial intelligence-powered knowledge automation platform that enables business-to-business sales and IT teams to generate responses for requests for proposal, security questionnaires, and complex inquiries. The software-as-a-service platform integrates directly with enterprise applications to build a centralized internal knowledge base without exposing proprietary data. The startup has raised over $8 million in total venture capital funding, including a $5 million round announced in January 2025. Operating with a client base of nearly 100 organizations, the company serves enterprise and startup customers across multiple sectors. 1UP is backed by lead investors such as Upfront Ventures and RRE Ventures, and its software is utilized by recognizable corporate clients including WalkMe, Deliveroo, and Gladly. The company was founded in 2022 by George Avetisov.
1UP has raised $10.5M across 3 funding rounds.
1UP has raised $10.5M in total across 3 funding rounds.
1UP has raised $10.5M in total across 3 funding rounds.
1UP's investors include Upfront Ventures, 8-Bit Capital, Accomplice VC, Sweater Ventures, Drive Capital, Engineering Capital, Marlinspike, Sunset Ventures, TQ Ventures.
1Up Ventures is a venture capital firm dedicated to fostering a diverse and inclusive community of talented independent game developers worldwide, emphasizing collaboration to drive mutual success.[1][2][3] Their investment philosophy centers on making numerous small investments—around 50 checks of approximately $500K each—exclusively in game developers at seed and Series A stages, while building networks to amplify industry impact.[1][5] They target gaming technology, with a primary focus on independent studios, though some sources note broader interests like fintech, AI, and health tech; their core remains games.[2][3][5] In the startup ecosystem, 1Up supports indie developers through funding, community-building, and operating expertise, helping them navigate challenges and scale via connections from events like Indie MEGABOOTH.[1][2]
Funded via 1Up Ventures Fund I (launched March 2021, $5-10M size, ~$30M AUM), they invest globally but prioritize the US, backing studios like Look North World, Midsummer Studio, Wicked Saints, Talofa Games, Jam & Tea Studios, Seeker Entertainment, Gardens, and Good Trouble.[2][3][5]
1Up Ventures was established in 2019 in Kirkland/Seattle, Washington, by Ed Fries, former Microsoft Vice President who built the Xbox game publishing business.[1][5][6] Fries, a key figure in gaming history, leads as General Partner, drawing on his experience advising dozens of game and tech companies.[1] The firm evolved from Fries' vision to unite indie developers, launching Fund I in March 2021 with a community-first approach amid rising indie game prominence post-Xbox era.[3]
Kelly Wallick joined early as Partner and Community Builder, founding Indie MEGABOOTH and chairing the IGF, bringing deep indie network ties.[1] Emily Greer serves as Venture Partner, a serial founder (Kongregate, Double Loop Games) expert in free-to-play economics.[1] Chris Wheaton handles administration with his Stanford MBA and 20+ years as CFO/COO.[1] This team humanizes 1Up as operator-led, shifting from traditional VC to developer-centric collaboration.[2]
1Up Ventures rides the indie gaming boom, fueled by platforms like Steam, itch.io, and mobile, where solo/small teams generate hits amid AAA consolidation.[1][5] Timing aligns with post-2020 remote dev surge and Web3/blockchain gaming experiments, positioning them to back accessible tools for creators.[2][3] Market forces like accessible engines (Unity/Unreal) and creator economies favor their model, countering Big Tech dominance by empowering diverse voices.[1]
They influence the ecosystem by democratizing funding—micro-investments lower barriers for underrepresented devs—and fostering collaboration, driving innovation in VR/gaming tech while challenging gatekept VC norms.[2][5]
1Up Ventures is poised to expand Fund II amid AI-enhanced game dev tools and metaverse resurgence, potentially scaling to 100+ investments with deeper global outreach.[3][5] Trends like procedural generation, cross-platform play, and indie-to-AAA pipelines will shape them, amplifying their community model as studios seek non-dilutive networks. Their influence may evolve toward hybrid funds blending VC with dev collectives, solidifying impact in a fragmented gaming landscape—echoing their founding bet that collaboration trumps isolation for enduring success.[1]
1UP has raised $10.5M across 3 funding rounds. Most recently, it raised $5.0M Seed in January 2025.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jan 1, 2025 | $5M Seed | Upfront Ventures | 8 BIT Capital, Accomplice VC, Sweater Ventures | Announced |
| Nov 1, 2023 | $2.5M Venture Round | — | — | Announced |
| Oct 1, 2023 | $3M Seed | — | 8 BIT Capital, Accomplice VC, Drive Capital, Engineering Capital, Marlinspike, Sunset Ventures, Sweater Ventures, TQ Ventures, Upfront Ventures | Announced |