Lokalise has successfully raised $56 million over two funding rounds, with the latest being a Series B in December 2021.
The platform streamlines and automates localization for agile teams, working with notable clients like Starbucks, Revolut, and Amazon.
What Is Lokalise?
Lokalise, founded in 2017 by Nick Ustinov and Petr Antropov, is a remote-only company specializing in localization technology. The platform aims to eliminate the hassle of localization by providing tools to automate, integrate, and better manage translations.
With a team of 201-500 employees, Lokalise helps businesses expand their mobile apps, games, software, or digital content into multiple languages. The company works with notable clients like Starbucks, Revolut, and Amazon.
As the fastest-growing language-tech B2B SaaS company, Lokalise is designed to accelerate international growth and create meaningful customer experiences.
How Much Funding Has Lokalise Raised?
- Series B Funding Round
- Amount Raised: $50 million
- Date: July 2024
- Lead Investors: CRV, Creandum, Dawn Capital
- Motivation Behind the Round: To improve the product, ramp up hiring, build partnerships, and increase marketing efforts.
- Series A Funding Round
- Amount Raised: $6 million
- Date: September 2020
- Lead Investors: Mike Chalfen
- Motivation Behind the Round: To improve the workflow and processes for updating text in different languages in products, thereby speeding up the localization process and reducing inefficiencies.
Total Amount Raised: $56 million. Current Valuation: $200 million (~estimated).
Key Investors
- CRV
- Details: CRV is a venture capital firm that has been investing in early-stage technology companies for over 40 years. They have a strong track record of supporting startups through their growth phases.
- Investment Focus Areas: Technology, SaaS, Consumer Internet
- Notable Investments: Twitter, DoorDash, Zendesk
- Creandum
- Details: Creandum is a leading European venture capital firm that focuses on early-stage technology companies. They have a history of backing some of the most successful startups in Europe.
- Investment Focus Areas: Technology, Fintech, Consumer Internet
- Notable Investments: Spotify, Klarna, iZettle
- Dawn Capital
- Details: Dawn Capital is a venture capital firm that specializes in B2B software and fintech companies. They aim to support companies that are transforming industries through technology.
- Investment Focus Areas: B2B Software, Fintech, SaaS
- Notable Investments: Mimecast, iZettle, Collibra
- Mike Chalfen
- Details: Mike Chalfen is a seasoned venture capitalist with a focus on technology startups. He has been involved in numerous successful investments over his career.
- Investment Focus Areas: Technology, SaaS, Consumer Internet
- Notable Investments: Not specified
- 3VC
- Details: 3VC is a venture capital firm that invests in technology startups across Europe. They focus on companies with the potential to become market leaders.
- Investment Focus Areas: Technology, SaaS, Consumer Internet
- Notable Investments: Not specified
What's Next for Lokalise?
With $50 million in new funding, Lokalise is poised to seize significant opportunities in the localization market. The company plans to enhance its platform, making it more robust for customer support teams and enterprise clients. By integrating various localization tools and expanding its team, Lokalise aims to streamline translation management and foster new partnerships.
Future fundraising seems likely as Lokalise continues to grow. The company’s ambitious plans for product development, hiring, and marketing suggest that additional capital may be needed to sustain this momentum. However, challenges such as maintaining company culture and effectively integrating new tools could pose hurdles along the way.
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