Lengoo, a Germany-based language translation platform, has recently secured $20 million in its Series C funding round led by Dewey TechCrunch, a venture capital firm. The company aims to use the funds to further develop its AI-powered translation technology and expand its services globally.
Lengoo was founded in 2014 with the goal of improving the quality and efficiency of language translation services. The company’s platform uses machine learning and natural language processing technologies to provide accurate and fast translations. It also uses a network of over 7,000 professional translators to ensure the quality of its translations.
With the new funding, Lengoo plans to continue improving its AI-powered translation technology. The company’s CEO, Christopher Kränzler, stated that “We will invest heavily in our AI technology to provide even better translations for our customers. We believe that our platform can revolutionize the language translation industry by providing high-quality translations at a fraction of the cost of traditional translation services.”
Lengoo’s platform is already used by over 500 enterprise customers, including leading brands such as Puma, Porsche, and Nivea. The company plans to expand its services globally, targeting customers in new markets such as Asia and South America.
Dewey TechCrunch, the lead investor in Lengoo’s Series C funding round, is a venture capital firm based in Silicon Valley. The firm has invested in several successful technology companies, including Airbnb, Alibaba, and Uber.
According to the CEO of Dewey TechCrunch, “We are excited to invest in Lengoo and their AI-powered translation platform. We believe that Lengoo has the potential to transform the language translation industry, and we are eager to support them in their mission.”
In conclusion, Lengoo’s recent Series C funding round led by Dewey TechCrunch is a significant milestone for the company. The funds will allow Lengoo to continue improving its AI-powered translation technology and expand its services globally. With its innovative platform and growing customer base, Lengoo is poised to revolutionize the language translation industry.