Upstage Raises $72M in Funding to Enhance AI Solutions for Global Enterprises
Upstage Raises $72M in Series B Funding
Upstage's Series B Funding
Key Highlights:
- Series B Funding: Upstage, an AI company specializing in large language models (LLMs) and Document AI, raised $72 million in Series B funding.
- Investors: Backed by SK Networks, KT, Korea Development Bank, Shinhan Venture Investment, Hana Ventures, Mirae Asset Venture Investment, and Industrial Bank of Korea, along with participation from existing investors.
- Purpose-Trained LLMs: Funds will be used to accelerate the development of purpose-trained LLMs for global enterprises.
Upstage's Target Market
- Global Enterprises: Large organizations in various industries seeking AI-powered solutions for document processing and workflow automation.
- Companies Embracing AI Technology: Businesses looking to leverage AI models and technologies to improve work efficiency and streamline operations.
- Organizations Handling Unstructured Data: Companies dealing with large amounts of unstructured data that require automated processing and analysis.
What Upstage Needs to Buy
- Research and Development: Investments in research and development to further enhance and expand their large language models and Document AI solutions.
- Partnerships and Integrations: Collaborations with platforms like Amazon SageMaker JumpStart and other technology providers to integrate and offer their AI solutions.
- Marketing and Sales Support: Resources to promote and sell their AI solutions to global enterprises and expand their customer base.