DeepL Secures $300 Million in Funding
DeepL, a Cologne, Germany-based Language AI company, secured a $300 million investment at a $2 billion valuation.
The round was by Index Ventures, with participation from notable investors like ICONIQ Growth and Teachers’ Venture Growth.
Index Ventures is a venture capital firm based in London, San Francisco, and Geneva, helping entrepreneurs turn bold ideas into global businesses. Founded in 1996, the firm seeks to invest in companies operating in AI, machine learning, business applications, data, entertainment, fintech, the future of work, healthcare, media, mobility, open source, retail, security, and talent sectors.
The company plans to use funding to boost research, innovate products, and expand globally. They're also focusing on recruiting top talent across various fields like AI, product development, engineering, and go-to-market efforts.
Founded in 2017 by Jarek Kutylowski, DeepL provides cutting-edge translation and writing solutions tailored for businesses across multiple industries, helping them overcome communication challenges and drive international growth. DeepL boasts a diverse clientele, including over 100,000 businesses, governments, and organizations worldwide, key clients include Zendesk, Nikkei, Coursera, and Deutsche Bahn. DeepL's platform now supports 32 languages, including recent additions like Arabic, Korean, and Norwegian. DeepL is on a mission to break down language barriers for businesses everywhere. DeepL is on a mission to break down language barriers for businesses everywhere.
Funding Details
Company: DeepL SE
Raised: $300.0M
Round: Unknown
Funding Month: May 2024
Lead Investors: Index Ventures
Additional Investors: ICONIQ Growth, Teachers’ Venture Growth
Company Website: https://www.deepl.com/
Software Category: Language AI