Upstage Raises $135 Million in Series C, Achieving Unicorn Status

Upstage announced today the completion of its Series C first close, raising $135 million (approx. 20 billion yen). This brings their cumulative funding to approximately $270 million. Led by SazzePartners and joined by prominent Asian financial investors, this round elevates Upstage to unicorn status with a valuation exceeding $1 billion. The company maintains over 130% annual revenue growth, driven by its focus on making AI functional in real business environments through advanced data structuring technology. Their core products include the 'Solar' LLM and 'Document Parse' solution. Upstage is intensifying its operations in Japan, partnering with HP Japan and AWS to provide secure, localized AI infrastructure optimized for Japanese enterprise requirements.