DeepL to elevate AI Research with new investor support

COLOGNE, GERMANY, January 11, 2023

DeepL, a global leader in AI communications, announced today that they will be partnering with new investors IVP, Bessemer Venture Partners, Atomico, and WiL. These collaborations will allow DeepL to accelerate research and development, expand its product offering, enable ongoing team growth, and further transform how individuals and organizations around the world communicate.

“DeepL has been changing the way people translate and, therefore, work internationally. Now, with additional support, we’re excited to continue investing in AI translation technology, but with a wider focus on communications in general,” said Jarek Kutylowski, CEO and founder of DeepL. “Recent advances in AI have greatly impacted how we communicate, especially in areas like business and education. Our goal is to use AI to make global communication as effortless as possible. To achieve this, we plan to expand our product offerings.” 

To stay at the forefront of AI technology, DeepL continuously invests in research to advance its powerful neural networks. These networks are trained by DeepL’s team of mathematicians and engineers to detect linguistic subtleties and nuances that eclipse other AI translation competitors. The company’s unique technology grasps even industry-specific terminology.

As a result of the latest financing round, which raises the company’s valuation to €1B, DeepL can focus not only on advancing its industry-leading technology, but also on making the benefits of AI communication more widely accessible—enabling both individuals and organizations of all sizes to use AI technology to improve their internal and external communication.

Millions of users and more than 20,000 businesses worldwide already rely on DeepL to communicate more efficiently and effectively—from translating personal emails to localizing corporate marketing campaigns, enabling multilingual customer service, streamlining internal communications for global teams, and more. IVP, Bessemer Venture Partners, Atomico, and WiL have all invested in industry-leading communication and productivity platforms, including Dropbox, Slack, Intercom, Zoom, Skype, and Asana.

About DeepL  

DeepL is a German AI company that strives to overcome language barriers through artificial intelligence. Since 2017 the DeepL Translator has, according to blind tests, achieved the world’s best translation quality. DeepL also provides professional products for companies, organizations, and translators. The exceptional quality of DeepL's machine translation services is based on proprietary improvements in neural network mathematics and methodology. DeepL was founded by CEO Jaroslaw Kutylowski and is supported by world-renowned investors such as IVP, Benchmark, and b2venture.