DeepL Translator: Neural machine translation service
Launch Date: August 2017
Owner: DeepL SE
Headquarters: Cologne, Germany
Languages Supported: 31 languages
Foundation Technology: Convolutional neural networks
Subscription: Paid subscription for additional features and access to translation API
DeepL Secures $300M Investment, Hits $2B Valuation
DeepL, a Cologne-based AI translation startup, has secured a $300 million investment led by Index Ventures, valuing the company at $2 billion. This heavily oversubscribed round attracted support from new investors like ICONIQ Growth, Teachers’ Venture Growth, and existing investors IVP, Atomico, and WiL.
The 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 prominent companies like Zendesk, Nikkei, Coursera, and Deutsche Bahn, who rely on DeepL’s highly accurate and secure enterprise Language AI platform to deliver seamless communication, driving international growth and cost savings.
DeepL’s Language AI Platform for business provides category-leading AI-powered translation and writing solutions, including the recently 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, Korean, and Norwegian, bringing its total number of languages to 32.
The investment will be used to continue investing in research and product innovation, expand the range of AI communication tools, and drive global market expansion. The team is also set to grow in the areas of AI research, product development, technology, and marketing.
DeepL’s success is attributed to its exceptional focus on creating cutting-edge AI products that deliver real and immediate value to its customers, as well as its research and commercially minded approach. The company’s valuation of $2 billion places it among the most highly-valued AI translation start-ups, underscoring its potential to disrupt traditional translation markets and reshape the way we communicate across languages.
What is the mission of Deepl and how does it plan to use the new funding?
DeepL’s mission is to use AI to make global communication as effortless as possible by providing cutting-edge AI-powered translation and writing solutions. The company plans to use the new $300 million funding led by Index Ventures to further this mission in several key ways:
- Investing in research and product innovation to enhance its AI communication and translation tools for enterprise businesses. This includes advancing its proprietary neural networks and large language models to deliver even more accurate and nuanced translations.
- Expanding its range of AI communication tools and making the benefits of AI-powered communication more widely accessible to both individuals and organizations of all sizes. This involves building on the success of its recently launched DeepL Write Pro AI writing assistant.
- Driving global market expansion, particularly in the United States which is now DeepL’s third largest market. The company plans to open more offices worldwide to support its growth.
- Recruiting top talent across AI research, product development, engineering, and marketing to further strengthen its team and capabilities.
- Continuing to add new languages to its platform, which now supports 32 languages including recent additions like Arabic, Korean and Norwegian.
DeepL’s CEO Jarek Kutylowski expressed optimism about the company’s ability to distinguish itself in the AI market by providing real solutions to businesses’ communication challenges, rather than just hype. The new funding is seen as a validation of DeepL’s mission and the vital role its AI language platform plays in helping global companies overcome linguistic barriers.
What are the current product offerings of Deepl?
DeepL’s current product offerings include:
1. DeepL Pro: DeepL Pro is a subscription service that offers advanced translation features for businesses. It is now available in 25 additional markets across Africa, Asia-Pacific, Central America, Europe, and South America. DeepL Pro provides businesses with advanced translation capabilities to help them expand globally faster and more efficiently. This service includes unlimited text translation, top-notch data security, expanded customization options, and more. DeepL Pro also offers sector-specific terminology translations and document translation options for various file formats like PDF, Word, Excel, PowerPoint, text, and HTML files while preserving the original formatting.
2. DeepL Write Pro: In April 2024, DeepL launched DeepL Write Pro, a writing assistant specifically tailored for business writing. This tool is powered by DeepL’s proprietary LLM technology and is designed to help businesses enhance their written communication by providing advanced writing assistance features. DeepL Write Pro aims to streamline and improve business writing processes, ensuring high-quality and effective written content for various purposes within organizations.
3. DeepL API Pro: DeepL offers an API Pro subscription that allows businesses to integrate DeepL’s translation services into their websites, apps, and internal tools and products with ease. This API Pro subscription enables businesses to translate content efficiently and accurately across multiple platforms, enhancing their global communication capabilities with just a few clicks.
These product offerings cater to businesses of all sizes and industries, providing them with AI-powered translation and writing solutions that are tailored to meet their specific communication needs and challenges.
How does Deepl plan to expand its product offerings?
Based on the information provided in the search results, DeepL plans to expand its product offerings in the following ways:
Enhancing AI Communication and Translation Tools
DeepL will invest the new $300 million funding into research and development to enhance its AI communication and translation tools for enterprise businesses. This includes advancing its proprietary neural networks and large language models to deliver even more accurate and nuanced translations.
Launching DeepL Write Pro
In April 2024, DeepL launched DeepL Write Pro, a writing assistant specifically tailored for business writing. This tool is powered by DeepL’s proprietary LLM technology and is designed to help businesses enhance their written communication by providing advanced writing assistance features.
Expanding Language Support
DeepL continues to add new languages to its platform, which now supports 32 languages including recent additions like Arabic, Korean and Norwegian. The company plans to further expand the range of languages supported by its platform to cater to a wider global audience.
Driving Global Market Expansion
DeepL is expanding its presence globally, particularly in the United States which is now its third largest market. The company plans to open more offices worldwide to support its growth and better serve its enterprise customers.
Strengthening Enterprise Offerings
DeepL Pro, the company’s subscription service for businesses, is now available in 25 additional markets across Africa, Asia-Pacific, Central America, Europe, and South America. This expansion unlocks vast opportunities for enterprises to leverage DeepL’s advanced translation features to go global faster than ever before.
By investing in research, launching new products, expanding language support, driving global expansion, and strengthening its enterprise offerings, DeepL aims to solidify its position as a leader in AI-powered language solutions and help businesses worldwide overcome communication barriers more effectively.
