DeepL Translator, a machine translation service based on artificial neural networks that was launched in August 2017 and belongs to DeepL SE, based in Cologne, Germany, values at around USD 1 billion.
Silicon Valley venture firm, IVP is leading a major investment round for DeepL. IVP turns breakout companies into enduring market leaders. To this day, they have partnered with over 400 companies including Amplitude, Brex, Coinbase, Crowdstrike, Datadog, Discord, Klarna, Slack, Snap, and Twitter.
Germany does not require companies to publicly file full financial accounts and that’s why it is difficult to obtain DeepL’s financial data. Although, fillings from 2020 show that the company generated revenues of less than EUR 40m and recorded profits of EUR 0.14m. At this time, we can say that the company is investing back into business.
DeepL is successful mainly because of the perfect timing. In 2017, they launched free web translator and they also regularly rank among the top-50 websites accessed in Switzerland and Germany and top-200 pages in other key markets. But while DeepL is on the right track, so are its big rivals. For example, Google launched its Translation Hub, an Enterprise-Scale machine translation service in 2022 and pose a high threat to DeepL.
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