DeepL Raises over $100 Million at a $1 Billion+ Valuation

DeepL is a leading deep learning company using artificial intelligence and machine learning. The company primarily provides translation as a service to businesses rather than individuals, and its forte up to now has been working primarily with smaller and medium organizations. The service uses a newer, improved architecture of neural networks, which results in a more natural sound of translations. It initially offered translations between seven European languages and was gradually expanded to support 29 languages.

The new round was led by new backer IVP, Bessemer Venture Partners, Atomico, and WiL. Previous backers in the company also include Benchmark and btov. The startup has not yet confirmed or disclosed other financials and the total amount.

DeepL, Cologne, Germany, was founded by Jaroslaw Kutylowski in 2017. “What I liked about 2022 was the rise of AI in everyone’s perception,” said Jaroslaw Kutylowski, CEO and founder, adding that AI has “more or less become like a typical tool” rather than a novelty. “From our perspective it’s fantastic, allowing us to make an entry into more markets and making the use of our tools more common.”

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