Rebranding as Upside, Cashback app GetUpside closes $165M in funding

Cashback application provider Upside Services Inc. is flush with cash of its own today after raising $165 million in a late-stage round of funding that brings its valuation to a cool $1.5 billion.
The Series D raise consisted of $65 million in equity financing and $100 million in debt financing from General Catalyst, with participation from existing investors Bessemer Ventures and Builders VC.
Alongside today’s round, the company said it’s rebranding the name of its app from GetUpside to Upside, to reflect its belief that it offers ‘upside’ for customers and businesses alike.