Upstage, a key AI company specializing in enterprise-grade generative AI solutions, today announced a $45 million Series B bridge round backed by Korea Development Bank (KDB), Amazon, and AMD. The raise brings total capital to $157 million and will accelerate development of its next-generation Solar language model, advance document AI products, and go-to-market expansion in the U.S. and APAC.

The new funding will also advance R&D efforts to enhance Solar’s capabilities and expand enterprise use cases, including document parsing, agentic task execution, and workflow automation. Recently, Upstage announced a strategic collaboration with Amazon Web Services (AWS), its preferred cloud provider, to advance its Solar language models and expand access to generative AI technology. Under the AWS collaboration, Upstage will use AWS for building and deploying foundation models, utilizing AWS’s machine learning infrastructure including SageMaker and AWS-designed silicon including AWS Trainium and Inferentia.

These enhanced AI capabilities are being strategically deployed to address significant inefficiencies in target industries, particularly insurance. A recent analysis of the U.S. insurance space found that claims adjudication costs reached $25.7 billion, with $18 billion tied to overturned denials and unnecessary review cycles – much of it driven by manual, paper-heavy operations and outdated, fragmented systems. Upstage is tackling this challenge head-on, with insurance as its first major global vertical, where resource-heavy areas like claims processing and broker submissions are especially ripe for automation.

At the center of the strategy is the Document Intelligence suite, which incorporates Document Parse — for transforming unstructured documents into structured, LLM-ready formats — and Information Extract, which pulls key data points from raw text. Whether processing policies, loss runs, financial statements, invoices, or emails, the platform processes high-variation document packets with over 95 percent accuracy, eliminating manual data entry, reducing processing time, and enabling faster, more automated decision-making.

Unlike traditional OCR tools that extract static fields without understanding context, Upstage’s Document Intelligence interprets documents holistically, understanding layout, meaning, and purpose to deliver structured outputs ready for real-world workflows.

“This is a pivotal moment not just for Upstage, but for the future of generative AI in the enterprise,” said Sung Kim, Co-Founder and CEO of Upstage. “The next phase of AI is about performance, precision, and readiness for real-world complexity. That is exactly what we’ve built with our suite. Our collaboration with AWS brings scale, credibility, and deep technical alignment — all critical as we deliver production-ready AI from day one in high-stakes sectors like commercial and public sector insurance.”

“Most enterprise teams are still buried in document chaos,” said Kasey Roh, Head of U.S. Business at Upstage. “We bring structure and speed to that mess, helping carriers and brokers move faster, reduce costs, and serve clients with confidence.”

Solar LLM, a family of Upstage’s proprietary small LLMs trained with Amazon SageMaker and available in Amazon Bedrock Marketplace, underpins Upstage’s broader GenAI stack. The company also offers its Universal Information Extractor — an AI agent for document-level understanding — through the AWS AI Agents and Tools Marketplace.

Upstage’s models are already being used by Fortune 500 companies, including Samsung, and are widely used by Korean insurance companies. It is also deployed across multiple public sector and government institutions, demonstrating Upstage’s ability to move from concept to production. Adoption is growing in the U.S. insurance and other highly structured industries.

The Series B bridge funding will support growth across sales and marketing hires and continued international expansion.

Upstage was recently named to the CB Insights AI 100 list, selected from thousands of global applicants — a milestone that reinforces Upstage’s traction in global markets. This bridge round builds on the company’s $72 million Series B announced in 2024, led byKorean investors including SK Networks and Shinhan Venture Investment.

To learn how Upstage can support your organization, contact our team to schedule a demo.

About Upstage
Upstage is building the future of enterprise AI through domain-specific language models and intelligent tools designed for high-impact business use. With deep expertise in LLM development, document AI, and agentic workflows, the company enables regulated industries and global enterprises to unlock the full potential of generative AI — securely, efficiently, and at scale.

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