FRISS provides trust automation software for P&C insurers, using AI-powered fraud detection, risk assessment, and compliance tools across the policy lifecycle.[1][3][4] It is focused on helping insurers detect fraud faster and make automated decisions on claims, underwriting, and investigations.[1][3][7]
Access to pre-IPO shares is available to accredited investors through UpMarket.
Latest Price
Previous Price
Series A
How to Invest in FRISS Through UpMarket
FRISS shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.
Step 01
Verify accredited investor status
Confirm eligibility under SEC Rule 501 of Regulation D. Income or net worth threshold applies.
Step 02
Create an UpMarket account
Complete KYC/AML onboarding. Typically 1–2 business days. Licensed rep assigned on signup.
Step 03
Review available FRISS offerings
Full offering memoranda and risk disclosures provided before any commitment is required.
Step 04
Complete subscription documents
Review and sign subscription agreement. All documents handled digitally through the platform.
Step 05
Fund your investment
Wire transfer or ACH. $50K minimum. Funds held in custodial account until close.
Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.
$1.3B+
UpMarket has brokered over $1.3 billion in alternative investments*
*Includes principal invested and appreciation of investments originated via the UpMarket platform based on historical trade volume and valuation estimates through March 31, 2026. Of the total, approximately $301 million is managed by UpMarket Management, with the remaining originated investments managed by affiliates. Past performance is not predictive of future results.
Valuation Growth Over Time
Post-money valuation by round
Previous roundsMost recent
Date
Round
PPS (split-adj.)
Valuation
Jul 2021
Series B
Series A
Why Investors Are Watching FRISS
Market Opportunity
Private tech market reached about $4.7T in value
Private tech companies valued above $1B now total roughly 1,300 names and about $4.7T in aggregate value. That scale is about 15% of Nasdaq, showing a very large addressable market for B2B infrastructure vendors like FRISS.
Growth Signal
Private-company capital stays abundant as firms stay private
Companies are staying private significantly longer, often building higher operating metrics before listing. That dynamic extends the runway for vendors serving private tech buyers and supports longer contract growth cycles.
Risk Factor
Private-market funding still depends on volatile capital flows
The private technology growth market has seen sharp swings in capital formation, with U.S. tech-focused venture and growth fundraising rising from $11B in 2009 to $41B in 2015. FRISS’s growth can be sensitive to funding cycles if buyers delay upgrades during tighter markets.
Interested in FRISS stock? Fill out the form above or sign up directly. Subject to availability. Accredited investors only.
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No. As of March 2026, FRISS is a private company and does not trade on any public stock exchange. Accredited investors can access FRISS shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments.
FRISS does not have a public stock price because it is privately held. The most recent known share price comes from its last funding round. Pre-IPO share prices on the secondary market may differ from the last round price depending on supply, demand, and market conditions.
Yes. Accredited investors can indicate interest in FRISS shares through UpMarket by filling out the form on this page or creating an account at upmarket.co. All pre-IPO offerings are subject to availability and require a $50,000 minimum investment. UpMarket is a FINRA-registered broker-dealer and has brokered more than $500M in alternative investments since 2019.
Pre-IPO investments carry significant risks. FRISS shares are illiquid, meaning there is no public market to sell them quickly. There is no guaranteed exit timeline or return. The investment is speculative in nature, and investors should be prepared for the possibility of total loss. Valuations of private companies can fluctuate substantially between funding rounds. Investors should consult their financial advisor and review all offering documents before investing.
In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.
There are two primary exit paths for pre-IPO holdings: selling your shares on the secondary market to another buyer, or holding until the company completes an IPO or is acquired. Both paths are subject to transfer restrictions, company approval (right of first refusal), and market conditions. The timing of any exit is unpredictable, and investors should plan for a multi-year holding period.
The minimum investment for most pre-IPO offerings on UpMarket is $50,000. This amount may vary depending on the specific offering and share availability. There are no fees to create an UpMarket account or browse available investments. Investors only pay transaction-related fees when they complete an investment.
UpMarket's valuation estimate of is derived from a proprietary model that incorporates multiple data sources: funding round data (Caplight), revenue estimates (Sacra), secondary market pricing, and public company comparables. The model applies a private company discount to the public comp multiple to account for illiquidity and information asymmetry. This estimate is not investment advice and may differ substantially from the price at which shares actually trade.
FRISS provides AI-powered trust automation software for P&C insurers, spanning fraud detection, risk assessment, and compliance across the policy lifecycle; the private tech market is valued at about $4.7T — accredited investors can access FRISS stock through UpMarket.