DeepL, which develops artificial intelligence-powered translation and spelling solutions, received $300 million in investment in a round led by Index Ventures. The company’s valuation reached 2 billion dollars.
DeepL, which develops AI-powered translation and transcription solutions, has raised $300 million in a round led by Index Ventures. Iconiq Growth, Teachers’ Venture Growth and existing investors IVP, Atomico and WiL participated in the round, bringing the company’s valuation to $2 billion.
The startup from Cologne, Germany, was launched as an alternative to general-purpose AI models such as OpenAI’s ChatGPT, which can translate and type but is not specifically designed for this task. DeepL’s platform is built on a specialized large language model designed specifically for business writing intelligence and has basic support for more than 32 languages, with the recent addition of Arabic, as well as Korean and Norwegian.
DeepL said the company has seen significant growth in its customer network, bringing together more than 100,000 businesses, governments and organizations worldwide. Clients include big names such as Zendesk, Nikkei, Coursera and Deutsche Bahn. In 2024, DeepL expanded its footprint in the US, currently its third largest market, and opened its first office in the region.
DeepL said it will put the new investment into research and development for its product range, strengthening its AI communication and translation tools for enterprise businesses. The company also plans to continue its global expansion and hiring, including bringing on more talent in AI research, product, engineering and marketing.
