Total amount raised
$400 Millions
Latest funding date
Location
Title
DeepL has successfully raised $300 million over multiple funding rounds, achieving a valuation of $2 billion. The company specializes in AI-based translation, editing, and writing services, offering products like DeepL Translator, DeepL Pro, and DeepL API.
Keep reading to explore the intricacies of DeepL's fundraising journey and the investors backing this innovative platform.
What Is DeepL?
DeepL, founded in August 2017, is headquartered in Cologne, Nordrhein-Westfalen, Germany. The company was established by Jaroslaw Kutylowski and has grown significantly since its inception.
Specializing in AI-based translation, editing, and writing services, DeepL offers a range of products including DeepL Translator, DeepL Pro, and DeepL API. These tools are designed to provide high-quality translations and enhance multilingual communication.
With a workforce of 1001-5000 employees, DeepL continues to innovate in the field of language technology, making it a prominent player in the industry.
How Much Funding Has DeepL Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: September 2009
- Lead Investors: b2venture
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the core technology and establish the company.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: December 2010
- Lead Investors: b2venture
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and prepare for market entry.
- Series A
- Amount Raised: Not publicly disclosed
- Date: December 2018
- Lead Investors: Benchmark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand the product offering.
- Venture Round
- Amount Raised: $100M
- Date: January 2023
- Lead Investors: IVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance AI capabilities and expand into new markets.
- Venture Round
- Amount Raised: $300M
- Date: May 2024
- Lead Investors: Index Ventures
- Valuation at Round: $2 billion
- Motivation Behind the Round: To support global expansion and strengthen commercial operations and research.
Total Amount Raised: $400M. Current Valuation: $2 billion.
Key Investors
- Index Ventures
- Details: Index Ventures is a global venture capital firm that invests in technology-enabled companies. They led the $300 million investment round in DeepL.
- Investment Focus Areas: Technology, software, internet companies.
- Notable Investments: Dropbox, Slack, Robinhood.
- IVP (Institutional Venture Partners)
- Details: IVP is a premier later-stage venture capital and growth equity firm. They have been an existing supporter of DeepL.
- Investment Focus Areas: Later-stage venture capital, growth equity investments, rapidly-growing technology companies.
- Notable Investments: Twitter, Snap, Dropbox.
- ICONIQ Growth
- Details: ICONIQ Growth is a growth equity firm that partners with exceptional entrepreneurs. They participated in the $300 million investment round in DeepL.
- Investment Focus Areas: High-growth technology companies, software, internet.
- Notable Investments: Snowflake, Uber, Zoom.
- Teachers’ Venture Growth
- Details: Teachers’ Venture Growth is the venture capital arm of the Ontario Teachers' Pension Plan. They focus on growth-stage investments and participated in the recent funding round for DeepL.
- Investment Focus Areas: Technology, healthcare, high-growth sectors.
- Notable Investments: SpaceX, Epic Games, KRY.
- Atomico
- Details: Atomico is a European venture capital firm that invests in innovative technology companies. They are an existing investor in DeepL.
- Investment Focus Areas: Disruptive technology companies, particularly in Europe.
- Notable Investments: Klarna, Supercell, Lilium.
What's Next for DeepL?
DeepL's future is brimming with opportunities, particularly in expanding its market presence in the U.S., Asia, and Latin America. The company aims to leverage its recent $300 million investment to enhance its AI models and develop new products like DeepL Write Pro. With the language industry projected to grow to $95.3 billion by 2028, DeepL is well-positioned to capture a significant share of this expanding market.
Future fundraising efforts will likely focus on supporting global expansion and technological advancements. The strong investor interest, demonstrated by the oversubscribed funding round, suggests that DeepL will continue to attract substantial investments. However, the company will face challenges such as competition from other AI translation services and ensuring the accuracy and security of its AI models. Navigating these hurdles will be crucial for maintaining its growth trajectory and market leadership.
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