Upstage
About Upstage
Upstage is a AI Vertical Platforms startup based in Seoul, South Korea that has raised $271M in venture capital across 4 funding rounds since 2020. The company reached Series C stage in April 2026 with a $126M round led by Sazze Partners. Upstage's investor base includes 14 institutional funds, with Sazze Partners leading the most recent equity round.
Upstage is an enterprise AI company that develops large language models and document processing technology for mission-critical business workflows. Its flagship Solar LLM family and Document Parse platform serve industries including insurance, healthcare, manufacturing, and financial services. The company became South Korea's first generative AI unicorn in April 2026 following its Series C raise.
Upstage Funding Rounds Timeline
4 rounds · $271M raised · since 2020
| Round | Date | Amount | Valuation | Lead investor | Co-investors |
|---|---|---|---|---|---|
| Series C | April 2026 | $126M | — | Sazze Partners | Premier Partners, Shinhan Venture Investment, Mirae Asset Venture Investment, KB Securities, Hyundai Motor, Woori Venture Partners |
| Series B Bridge | August 2025 | $45M | — | — | Korea Development Bank, Amazon, AMD |
| Series B | April 2024 | $72M | — | — | SK Networks, KT, Korea Development Bank, Shinhan Venture Investment, Hana Ventures, Mirae Asset Venture Investment, Premier Partners |
| Series A | September 2021 | $27M | — | — | SBVA, Premier Partners |
Investors in Upstage
14 institutional investors across 4 rounds
Lead investors
Co-investors
Recent news about Upstage
Questions about Upstage
How much has Upstage raised?
Upstage has raised $271M across 4 funding rounds since 2020.
Who are the investors of Upstage?
Upstage's investors include Sazze Partners, Premier Partners, Shinhan Venture Investment, Mirae Asset Venture Investment, KB Securities, Hyundai Motor, Woori Venture Partners, Korea Development Bank, Amazon, AMD, SK Networks, KT, Hana Ventures, SBVA.
When was Upstage's last funding round?
Upstage's most recent round was a $126M Series C in April 2026, led by Sazze Partners.
Where is Upstage headquartered?
Upstage is headquartered in Seoul, South Korea, and was founded in 2020 by Sunghun Kim, Stan Lee, Lucy Park.