Lokalise, a startup that translates apps into multiple languages, used this 11-slide pitch deck to raise $50 million
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- The translation and localization startup Lokalise has raised $50 million in funding.
- The startup makes it faster and cheaper for companies to add language functions.
- Check out the company’s pitch deck below.
Lokalise, a platform that helps companies expand into new languages and geographies by automating many of the processes involved, has raised $50 million in new funding.
The startup founded in Latvia but now based in the US, which was founded in 2017 by Petr Antropov and Nick Ustinov, began as a developer tool to make it easier for programmers to integrate new language translations into their products and services using an application programming interface. The platform has since expanded its offering and is used by the likes of the neobanking giant Revolut and the chemicals company BASF.
“Most processes built by translators for apps and websites were not so fast compared to what we could do by embedding that technology,” Ustinov, Lokalise’s CEO, told Insider. Ustinov added that existing translation tools were time-consuming as various iterations were “passed back between designers, translators, and developers.”
The company cited its work with Revolut as a good example of the complexity it hoped to reduce through its developer tools. The London neobank offers its app in about 40 countries in seven languages, but each update or new language and country would take up significant time for the hundreds of software developers who can now automate many of these newer functions through Lokalise.
The company works with about 2,500 clients globally but wants to use the new funding to expand its marketing push as well as more than double its current 185 strong workforce, which operates remotely across 36 countries.
It took the company about a month to bring in the fresh funds. The round was led by the Twitter and DoorDash backer CRV, alongside the European funds Dawn Capital and Creandum.
Lokalise raised its Series A funding round in September 2020 from backers including Chalfen Ventures and a bevy of angel investors such as UiPath CEO Daniel Dines and 20VC founder Harry Stebbings.
“Our offering is broader than just saving costs,” Ustinov added. “This is about expanding the revenue opportunity for companies, and there is no limit globally.” He said most companies had “some visitors from non-English language communities, and we believe every company should be able to sell to any person in the world.”
Check out Lokalise’s Series B pitch deck below:
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