DeepL announces $300 million investment as demand for AI language solutions soar
The investment comes following the release of its writing assistant, DeepL Write Pro
May 27th 2024
DeepL, a leading Language AI company, has announced $300 million of investment at a $2 billion valuation, led by Index Ventures.
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 and Nikkei among others, who rely on its enterprise Language AI platform to drive growth and cost savings.
“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.”
Jarek Kutylowski, founder and CEO of DeepL
Within the last 12 months, DeepL has also 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 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.
Deep Impact
It’s incredible to see how AI and automation continue to advance, providing opportunities for individuals to become smarter and more intertwined with the world around them.
We’re big fans of DeepL and it’s an incredible tool for anyone who needs a fast and reliable translation at home or work, in one of the 30+ languages it offers.
As well as business users, individuals may know of it as a helpful tool when learning a new language. Indeed, there has been a ‘surge in interest’ in language learning since the pandemic, with some apps seeing usage up by 200%, as found by Oxford University.
People generally want to learn and improve themselves if they have the means to do so. And with more people travelling and connecting with other cultures, it’s unlikely that this trend and demand for such solutions is going anywhere fast.
Read the full press release via the DeepL newsroom.
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