DeepL receives 300 million US dollars in investment

DeepL secures 300 million US dollars in a new financing round, led by Index Ventures. Company's total valuation increases to two billion US dollars

COLOGNE, May 22, 2024 - DeepL, a leading has closed a USD 300 million financing round. The company's total valuation now stands at two billion US dollars. Index Ventures led the heavily oversubscribed financing round. Other investors include ICONIQ Growth and Teachers' Venture Growth.

Strong growth and high demand

DeepL is growing rapidly in over 60 markets worldwide. Over 100,000 companies, governments and organizations use DeepL's AI-powered translation and communication solutions. Customers include household names such as Zendesk, Nikkei, Coursera and Deutsche Bahn.

The AI language technology from DeepL is aimed particularly at companies. It helps to master complex linguistic challenges. The company wants to continue to grow and research in order to improve the quality, precision and security of its solutions. The goal is to create a future in which every company worldwide can communicate seamlessly.

DeepL has strengthened its presence in the USA and opened an office there. The US is now the company's third largest market. In response to increasing demand, DeepL is continuing to expand its team in the USA.

New products and languages

In April 2024, DeepL launched "DeepL Write Pro". This AI writing assistant is aimed specifically at companies and is based on proprietary Large Language Models (LLMs). In addition, DeepL expanded its platform to include Arabic, Korean and Norwegian. The platform now supports a total of 32 languages.

Danny Rimer from Index Ventures praises the innovative approach of DeepL. He emphasizes that the company focuses on both research and commercial success. Index Ventures has already invested in successful SaaS companies such as Figma, Slack and Scale AI.

Rising demand for AI solutions

According to an IBM study, 42% of companies are already using AI and 40% are investigating its potential. DeepL plays an important role in the transformation of the voice industry, which is expected to grow to 95.3 billion US dollars by 2028. Since its foundation in 2017, DeepL has established itself as the preferred provider of AI language technology.

A study by Forrester Consulting shows that companies achieve an ROI of 345% with DeepL. The time spent on translations is reduced by 90% and the translation effort by 50%. This underlines the added value of the platform for companies.

Adrian McDermott, CTO at Zendesk, emphasizes the positive impact of AI tools on the customer experience. With accurate AI translations, companies of all sizes can scale globally and impress customers.

Future plans

DeepL plans to continue investing in research and product innovation. The aim is to expand the range of AI communication tools and drive global market expansion. The team is also set to grow in the areas of AI research, product development, technology and marketing.

Less than two years ago, we reported on Startbase that DeepL had reached a valuation of one billion US dollars. Now the company has doubled its valuation and received 300 million US dollars in a new financing round, bringing the current valuation to two billion US dollars. With this new valuation, DeepL is now the most valuable German AI company. We are excited to see what further developments and innovations we will see from this up-and-coming company in the future.