Upstage, a San Jose, CA-based AI company specializing in enterprise generative AI solutions, has raised $45 million in Series B bridge funding.
Investors
The round was backed by Korea Development Bank (KDB), Amazon, and AMD.
Korea Development Bank is a South Korean state-owned development bank that aims to encourage the industrial development of South Korea. Founded in 1954, KDB is committed to promoting and disseminating the concept of sustainable development through its activities in both domestic and overseas markets.
Amazon is a multinational technology company specializing in e-commerce, cloud computing, digital streaming, and artificial intelligence. It operates the world’s largest online marketplace, provides industry-leading cloud services through Amazon Web Services (AWS), and offers subscription benefits via Amazon Prime.
Advanced Micro Devices (AMD) is an American multinational semiconductor company that designs and develops a wide range of computer processors and related technologies for both consumer and enterprise markets.
Upstage Use of Funds
The funding will fuel the development of Solar LLM, enhance Upstage’s document intelligence suite, and support expansion in the U.S. and APAC markets.
About Upstage
Led by CEO Sung Kim, Upstage develops AI solutions designed to transform unstructured documents into structured, workflow-ready data. Its product suite includes generative intelligence models such as Solar Pro 2 and Solar Mini, as well as document intelligence tools for parsing and information extraction. Headquartered in San Jose, CA, Upstage’s models are already being used by Fortune 500 companies, including Samsung, and are widely adopted by Korean insurance companies. Upstage serves industries such as insurance, healthcare, manufacturing, and financial services.
Funding Details
Company: Upstage
Raised: $45.0M
Round: Series B Bridge
Funding Date: August 2025
Investors: Korea Development Bank, Amazon, AMD
Company Website: https://www.upstage.ai/
Software Category: Generative AI / Document Intelligence
Source: https://www.prnewswire.com/news-releases/upstage-completes-45m-series-b-bridge-to-accelerate-enterprise-grade-genai-and-global-expansion-302534044.html