On May 22, 2024, the artificial intelligence language translation startup headquartered in Cologne, Germany,DeepLannounced it had raised a new $300 million funding round, reaching a valuation of $2 billion. This round was led by Index Ventures, with participation from ICONIQ Growth, Teachers’ Venture Growth, and existing investors IVP, Atomico, and WiL.
DeepL plans to use the funds raised to accelerate its strategic expansion in global markets and investment in key areas, while continuing research and product innovation and expanding its team.
Founded in 2017 by Jaroslaw (Jarek) Kutylowski, DeepL is a leading language AI company. More than 100,000 businesses, governments, and other organizations worldwide, as well as millions of individual users, use DeepL's language AI platform to obtain human-like translations and better writing. The company has launched AI solutions designed with enterprise security in mind, helping businesses transform business communications, expand markets, and increase productivity. Currently, DeepL has more than 900 employees and is backed by world-renowned investors including Benchmark, IVP, and Index Ventures.
(Source:BusinessWire）