Lengoo, a Berlin, Germany-based language tech company, raised USD 20M in Series B funding.
The round was led by Inkef Capital with existing investors Redalpine,
Creathor Ventures, and Techstars also participating alongside angel investors Matthias Hilpert and Michael Schmitt. New investors also include Polipo Ventures and Volker Pyrtek (former CPO of Deutsche Telekom).
The company, which has raised USD 34M to date, intends to use the funds to accelerate global expansion and advance the development of their proprietary NMT framework for ultra customization of neural machine translation models for the professional use case.
Led by CEO Christopher Kränzler, Lengoo pioneers AI-augmented translation for the enterprise. The team automates the custom training of neural machine translation models for enterprise clients using the enterprise clients’ owned language data and deploying it in a human-in-the-loop full-service approach.
Over the last 12 months, the company was able to onboard 50+ enterprise customers in Europe and the US including National Instruments, Sunrise Communications, Sixt, and the WWF.
Ahead of schedule, Lengoo expanded into the US, the UK, Scandinavia, and Poland and tripled the headcount. The company serves global enterprises like NI (National Instruments), Sixt, Sunrise Communications, KIOXIA, or Michelin.
FinSMEs
10/02/2021