Enterprise AI company Upstage, a developer of generative AI and document intelligence solutions, has raised $45m in a Series B bridge round, bringing its total funding to $157m.
The funding round was led by Korea Development Bank (KDB), Amazon, and AMD, according to InsurTech Insights.
Upstage builds AI models that address inefficiencies in industries with heavy document workloads, with insurance as its first major global vertical.
Its Document Intelligence suite, which includes tools such as Document Parse and Information Extract, converts unstructured documents into structured formats with more than 95% accuracy.
Unlike traditional OCR tools, the models interpret documents holistically, enabling automation in policy processing, loss runs, financial statements, and broker submissions.
The company intends to use the new funding to accelerate development of its Solar language model, expand adoption of its document AI suite, and support global growth across the U.S. and APAC.
This latest financing follows Upstage’s collaboration with Amazon Web Services (AWS), its preferred cloud provider.
The partnership leverages AWS’s machine learning infrastructure, including SageMaker and AWS-designed silicon Trainium and Inferentia, to advance Solar’s capabilities and deliver scalable generative AI solutions.
“This is a pivotal moment not just for Upstage, but for the future of generative AI in the enterprise,” Upstage Co-Founder and CEO Sung Kim said. “The next phase of AI is about performance, precision, and readiness for real-world complexity — that is exactly what we’ve built.”
Kasey Roh, U.S. CEO, added: “Most enterprise teams are still buried in document chaos. We bring structure and speed to that mess, helping carriers and brokers move faster, reduce costs, and serve clients with confidence.”
Read the daily FinTech news here
Copyright © 2025 FinTech Global
