AI translation unicorn DeepL reaches $2B valuation with new $300M investment

May 22, 2024

By Ioanna Lykiardopoulou

DeepL, the Cologne-based unicorn that has been rivalling machine translation giants such as Google Translate, today announced a new investment of $300mn (€277mn), reaching a $2bn valuation. Born from online dictionary Linguee, the startup was founded in 2017 by Jarek Kutylowski, who’s also serving as the company’s CEO. DeepL offers free and premium AI translation services, with a special focus on B2B products, where the company sees the biggest demand. It now covers 32 languages and counts 100,000 business users. A list that includes the likes of Nikkei, Coursera, and Deutsche Bahn. The investment follows a period of significant growth…

This story continues at The Next Web

Source:: The Next Web

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