A $300 million investment was made in Cologne, Germany-based DeepL, a linguistic artificial intelligence business valued at $2 billion.
Investors
- Index Ventures
- ICONIQ Growth
- Teachers’ Venture Growth
- IVP
- Atomico
- WiL
Use of funds
The firm plans to utilize the money to focus on expanding its worldwide market reach, hiring top people for various departments like engineering, GTM, product, and AI research, and to keep investing in research and innovation to enhance its suite of AI communication tools for enterprises.
DeepL has expanded the range of business-focused products it offers in the last year. Using its own unique LLM technology, the firm introduced DeepL Write Pro in April 2024 as a writing aid designed especially for business writing. Along with adding Arabic, Korean, and Norwegian recently, the firm is also expanding the number of languages supported by its platform, which now stands at 32.
About DeepL
CEO Jaroslaw (Jarek) Kutylowski founded DeepL in 2017, which offers a language AI platform for writing and translating that is human-like. Businesses all around the globe utilize the company’s AI language solutions to enhance corporate interactions, open up new markets, and boost productivity. These solutions are built with enterprise security as their primary focus. Over 100,000 companies across a variety of sectors, such as manufacturing, law, retail, healthcare, technology, and professional services, as well as governments and other organizations globally, such as Zendesk, Nikkei, Coursera, and Deutsche Bahn, make up DeepL’s client network.
More than 900 people work at DeepL.
