TLDR:
- DeepL, a language AI company based in Germany, has received a $300 million investment at a $2 billion valuation.
- The funding round was led by Index Ventures and included participation from other investors.
In a recent development, DeepL, a Cologne-based language AI company, secured a $300 million investment at a valuation of $2 billion. The funding round was spearheaded by Index Ventures, with additional participation from ICONIQ Growth, Teachers’ Venture Growth, and existing investors IVP, Atomico, and WiL. The company plans to utilize the funds to further invest in research and product innovation, strengthen its suite of AI communication tools, expand globally, and recruit talent across various areas.
Founded in 2017 by CEO Jaroslaw (Jarek) Kutylowski, DeepL offers a language AI platform for human-like translation and writing, with a focus on enterprise security. The company’s AI language solutions are utilized by over 100,000 businesses worldwide across various industries such as manufacturing, legal, retail, healthcare, technology, and more.
DeepL recently introduced new product offerings tailored for business needs, including DeepL Write Pro, a writing assistant powered by its proprietary LLM technology. The company has also expanded the languages supported on its platform, with the additions of Arabic, Korean, and Norwegian, bringing the total to 32 languages. With a workforce of over 900 employees, DeepL continues to grow and innovate in the language AI space.
