- Index Ventures led heavily oversubscribed round with
participation from late-stage investment firms ICONIQ
Growth, Teachers' Venture Growth, and more
- Rapid enterprise adoption of DeepL has fueled the
company's growth in 60+ global markets for 100,000+ businesses,
governments, and other organizations
- DeepL's Language AI Platform for business provides
category-leading AI-powered translation and writing
solutions
COLOGNE,
Germany, May 22, 2024 /PRNewswire/ -- DeepL, a
leading Language AI company, today announced $300 million of investment at a $2 billion
valuation. Led by Index Ventures, the heavily oversubscribed round
attracted strong support from new investors, who will bring their
extensive expertise, connections, and resources to support DeepL's
growth and long-term vision to transform the way companies
communicate around the world. Additional late-stage investors,
including ICONIQ Growth, Teachers' Venture Growth, and others, also
participated, along with existing investors IVP, Atomico, and
WiL.
"We're approaching an inflection point in the AI boom
where businesses who are racing to adopt the technology begin to
discern between hype versus solutions that are secure and actually
solve real problems in their business," said Jarek Kutylowski, founder and CEO of
DeepL. "This new investment comes during what is on track to
be DeepL's most transformative year yet and is a testament to the
crucial role that our Language AI platform has in solving the
complex linguistic challenges global companies face today. We're
highly focused on continued growth and innovation to expand our
solutions and ensure they remain industry-leading in terms of
quality, precision, and security. This will bring us closer to a
future where every company, regardless of location, can operate
seamlessly on a global scale with our AI."
The new investment comes during a period of significant growth
and momentum for DeepL, which has amassed a customer network
of 100,000+ businesses, governments, and other organizations
worldwide. This network includes Zendesk, Nikkei, Coursera, and
Deutsche Bahn, who rely on its highly accurate and secure
enterprise Language AI platform to deliver seamless communication,
driving international growth and cost savings. In response to
surging demand from global enterprises, DeepL has accelerated its
expansion efforts and strategic investments into key markets over
the past year. In January 2024, DeepL
deepened its commitment to the U.S.—now its third largest market—by
opening its first office in the region. The company continues to
expand its team in the U.S. to support growing demand.
Within the last 12 months, DeepL has also substantially
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's runaway success is a bit of an 'open secret' in the
business community," said Danny
Rimer, who led the investment from Index Ventures. "The
company is exceptionally thoughtful about creating cutting-edge AI
products that deliver real and immediate value to their customers.
Jarek and the rest of the DeepL team are equally research and
commercially minded – both of which are key to the company's
success." Index Ventures is recognized for its investments in
highly successful SaaS businesses like Figma, Slack, Wiz, and Scale
AI.
Demand for AI solutions among global enterprises is on the rise.
A recent IBM study found that 42% are already actively deploying
AI and 40% are exploring its potential. Within this rapidly
evolving landscape, DeepL is leading the way in applying AI to
transform the $67.9
billion language industry, which is projected to
grow to $95.3 billion by 2028.
Since its inception in 2017, DeepL has become the Language AI
provider of choice for businesses across multiple industries
including manufacturing, legal, retail, healthcare, technology, and
professional services. The company's specialized Language AI
platform has become a critical investment for global businesses
today, addressing a variety of communication challenges ranging
from internal communications to customer support and international
market expansion. Unlike general-purpose AI systems, DeepL's
cutting-edge translation and writing solutions rely on specialized
AI models specifically tuned for language, resulting in more
precise translations for a variety of use cases and a reduced risk
of hallucinations and misinformation. In business translation and
writing, accuracy is paramount, making specialized AI models the
most reliable and preferred solution for language challenges.
DeepL's Language AI platform is also proven to drive significant
cost savings and efficiencies. A 2024 Forrester study revealed that
the use of DeepL delivered 345% ROI for global companies, reducing
translation time by 90% and driving a 50% in workload reduction,
underscoring, in our opinion, the power of its platform for
businesses looking to grow their revenue and enter new markets
faster and at scale.
"At Zendesk we see first hand the power of infusing AI tools
into customer experience, and DeepL's industry-leading translation
is a prime example," said Adrian
McDermott, CTO, Zendesk. "The ability to have accurate
AI translation allows companies from startups to large enterprises
the ability to scale globally, reaching prospects and existing
customers in new ways. Zendesk's open and flexible platform allows
for seamless partnerships, and the tangible results we've seen so
far from joint customers have us looking forward to continued work
with DeepL."
Looking ahead, DeepL will continue to invest in research and
product innovation to strengthen its suite of leading AI
communication tools for businesses. The company is also doubling
down on global market expansion and talent recruitment across
multiple areas including AI research, product, engineering, and
GTM.
About DeepL
DeepL is on a mission to break down
language barriers for businesses everywhere. Over 100,000
businesses, governments and other organizations and millions of
individuals in 63 global markets trust DeepL's Language AI platform
for human-like translation and better writing. Designed with
enterprise security in mind, companies around the world leverage
DeepL's AI solutions that are specifically tuned for language to
transform business communications, expand markets and improve
productivity. Founded in 2017 by CEO Jaroslaw (Jarek) Kutylowski, DeepL today has
over 900 passionate employees and is supported by world-renowned
investors including Benchmark, IVP and Index Ventures.
Contact:
Sebastian Ries
Openers GmbH
deepl@opnrs.com
+49 1578 058 8488
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