# Upstage Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/upstage-co

- Industry: Software
- Headquarters: Yongin, South Korea
- Website: www.upstage.ai/
- Total disclosed funding: $664M
- Latest round: Series C (Jun 3, 2026)
- Investors on record: 22

## About

Founded in 2020 and headquartered in Yongin-si, South Korea, Upstage Co., Ltd. specializes in AI technology. In April 2026, Upstage Co., Ltd. raised KRW 180 billion in series C funding led by returning investor Sazze Partners, with participation from new investors Axiom Asia Private Capital, Hyundai Motor Securities, Kia, WOORI Venture Partners, and Industrial Bank of Korea. Returning investors Premier Partners, Shinhan Venture Investment, Mirae Asset Venture Investment, KB Securities, IBK Venture Investment, and InterVest also participated in the round. Co-founders Eunjeong Park and Sung Kim have a history of innovation in technology, with Sung Kim serving as the current CEO. Upstage has not undergone notable business pivots or changes.

Upstage Co., Ltd. specializes in advanced artificial intelligence solutions designed to enhance operational efficiency across various industries, including finance, healthcare, and legal sectors. Their core offerings include high-performance language models optimized for local environments and lightweight document processing solutions, capable of converting complex documents, such as PDFs and scans, into machine-readable formats. These products focus on extracting structured key data from unstructured text, ultimately streamlining workflows for organizations overwhelmed with paperwork. Upstage AI's client base features a range of leading businesses that utilize their technology for tasks like claims automation and document management. The company's products are deployed primarily in Japan and other markets that prioritize accuracy and reliability in AI-driven solutions.

The company generates revenue through a structured model that includes enterprise-grade subscriptions for its suite of AI products and services. Their flagship offerings, such as the Solar LLM and document parsing solutions, are provided under subscription frameworks tailored for specific industry needs. The financial transactions are structured as B2B partnerships, allowing clients to access advanced AI capabilities while ensuring compliance with their operational requirements. Subscription plans may vary based on the scale and customization of services, catering to different organizational sizes and needs, particularly in sectors where precision and speed are critical. The company’s revenue structure supports sustained growth by fostering long-term relationships with clients, enabling them to leverage AI innovations effectively.

Upstage Co., Ltd. looks forward to launching new products, including advanced AI models that will meet the increasing demands of their client base in finance and healthcare. Additionally, Upstage aims to expand into new markets, particularly targeting regions in North America and Europe. The company will use the April 2026 funding to expand graphics processing unit infrastructure, hire global talent, and build overseas sales channels.

## Funding rounds

- Series C, Jun 3, 2026, $381M — Korea Development Bank, Shinhan Venture Investment, Industrial Bank of Korea, Mirae Asset Venture Investment, Sazze Partners
- Series C, Apr 15, 2026, $122M — Axiom Asia Private Capital, Shinhan Venture Investment, InterVest, WOORI Venture Partners, Industrial Bank of Korea, Mirae Asset Venture Investment, Premier Partners, KB Securities, Sazze Partners, Hyundai Motor Securities, Kia, IBK Venture Investment
- Series B, Aug 19, 2025, $45M — Korea Development Bank, Shinhan Venture Investment, InterVest, AMD Ventures, KB Securities, Mirae Asset Venture Investment, Premier Partners, SK Networks, Amazon Web Services Corporate Development/Ventures
- Series B, Sep 2, 2024, $90M — Shinhan Venture Investment, Industrial Bank of Korea, SBVA, Company K Partners, Mirae Asset Venture Investment, Premier Partners, Hana Ventures, Sazze Partners
- Series A, Oct 1, 2021, $27M — SBVA, Premier Venture Partners, Company K Partners, TBT Partners, Sazze Partners, Stonebridge Ventures

## Investors

- SBVA (https://capitalatlas.ai/funds/sbva) — Series A, Series B
- Premier Venture Partners — Series A
- Company K Partners (https://capitalatlas.ai/funds/company-k-partners) — Series A, Series B
- TBT Partners (https://capitalatlas.ai/funds/tbt-partners) — Series A
- Sazze Partners (https://capitalatlas.ai/funds/sazze-partners) — Series A, Series B, Series C
- Stonebridge Ventures — Series A
- Shinhan Venture Investment (https://capitalatlas.ai/funds/shinhan-venture-investment) — Series B, Series C
- Industrial Bank of Korea — Series B, Series C
- Mirae Asset Venture Investment (https://capitalatlas.ai/funds/mirae-asset-venture-investment) — Series B, Series C
- Premier Partners (https://capitalatlas.ai/funds/premier-partners) — Series B, Series C
- Hana Ventures — Series B
- Korea Development Bank (https://capitalatlas.ai/funds/korea-development-bank) — Series B, Series C
- InterVest (https://capitalatlas.ai/funds/intervest) — Series B, Series C
- AMD Ventures (https://capitalatlas.ai/funds/amd-ventures) — Series B
- KB Securities (https://capitalatlas.ai/funds/kb-securities) — Series B, Series C
- SK Networks — Series B
- Amazon Web Services Corporate Development/Ventures — Series B
- Axiom Asia Private Capital (https://capitalatlas.ai/funds/axiom-asia-private-capital) — Series C
- WOORI Venture Partners (https://capitalatlas.ai/funds/woori-venture-partners) — Series C
- Hyundai Motor Securities — Series C
- Kia — Series C
- IBK Venture Investment (https://capitalatlas.ai/funds/ibk-venture-investment) — Series C