With this latest investment, Upstage has now raised over $100 million since its founding in October 2020, making it the most-funded South Korean AI software company in history.

The Series B round was led by a group of prominent investors, including SK Networks, KT, Korea Development Bank, Shinhan Venture Investment, Hana Ventures, Mirae Asset Venture Investment, and Industrial Bank of Korea. Existing investors, such as SBVA (formerly SoftBank Ventures Asia), Primer Sazze Partners, Company K Partners, and Premier Partners, also participated in the round, reaffirming their confidence in Upstage's vision and capabilities.

Founded in October 2020, Upstage boosts work efficiency with industry-leading document processing engines and large-language models (LLMs). Our flagship product Solar LLM delivers GPT-4-level performance with an unparalleled speed and cost-efficiency. Available via on-premises as well as API integration through platforms like Amazon SageMaker JumpStart, Solar provides a versatile and accessible alternative to larger, more resource-intensive models developed by tech giants. Furthermore, our Document AI solution leverages AI-powered OCR (optical character recognition) technology to automate workflows and process unstructured data, reducing operational costs and streamlining operations for our clients.