DeepL, a Cologne, Germany-based language AI company, received a $300m investment at a $2 billion valuation.
The round was led by Index Ventures, with participation from ICONIQ Growth, Teachers’ Venture Growth, and existing investors IVP, Atomico, and WiL.
The company intends to use the funds to continue to invest in research and product innovation to strengthen its suite of AI communication tools for businesses, double down on global market expansion and talent recruitment across multiple areas including AI research, product, engineering, and GTM.
Founded in 2017 by CEO Jaroslaw (Jarek) Kutylowski, DeepL provides a language AI platform for human-like translation and writing. Designed with enterprise security at its core, companies around the world use the company’s AI language solutions to improve business communications, expand markets and improve productivity. DeepL has amassed a customer network of 100,000+ businesses across multiple industries including manufacturing, legal, retail, healthcare, technology, and professional services, governments, and other organizations worldwide, including Zendesk, Nikkei, Coursera, and Deutsche Bahn.
Within the last 12 months, DeepL has also broadened its product offerings tailored for businesses. In April 2024, the company launched DeepL Write Pro, a writing assistant specifically tailored for business writing, powered by its own proprietary LLM technology. The company also continues to expand the range of languages supported by its platform with the recent additions of Arabic, as well as Korean and Norwegian, bringing its total number of languages to 32.
DeepL has over 900 employees.
FinSMEs
23/05/2024