Upstock's target audience encompasses a broad range of businesses, but specifically focuses on companies that issue equity to employees, advisors, or investors. This includes early-stage startups, rapidly growing scale-ups, and potentially established private companies looking to modernize their equity management. Given the mention of ESOPs, phantom stock, and various share schemes, the platform targets companies that are beyond just a few founders and are actively building a team. Geographically, while the website doesn't explicitly state a primary market, the language and compliance features suggest a focus on markets where ESOPs and equity compensation are common, likely including the US, UK, Europe, and potentially ANZ regions where similar legal frameworks exist. The target audience values robust legal frameworks, transparent communication, and efficient administrative tools to manage their equity programs effectively.