SmartCAT, a Milpitas, California-based translation automation platform provider, secured $2.8m in seed funding.
Venture capital fund RedSeed made the investment.
The company intends to use the funds to continue to develop its technology and grow internationally.
Initially developed by multinational AI software company Abbyy and founded by CEO Ivan Smolnikov, SmartCAT develops a cloud translation automation platform, which combines translation technologies aimed at lowering costs and increasing quality with a global marketplace of over 60,000 translation professionals. According to a note, the SmartCAT computer assisted translation (CAT) platform prevents human errors with the help of translation memories, glossaries, intelligent QA checks and AI algorithms. It provides project managers with tools and processes to assemble project-specific teams, track progress and enable effective communication within the team. The latest addition — now in beta testing — is chatbots, which aim to reduce the time needed for executing analysis and reporting tasks.
SmartCAT is used by more than 1,500 companies, including Weebly, Epicor, Coursera, Adherium, YIT, Netcracker, GSK, many language services providers and over 60,000 translators from 100 different countries.
FinSMEs
09/08/2016