The Lengoo Team
Expert translation services are business-critical for many international companies. Translations need to be accurate, fit each company’s individual communication style and be quickly available in order not to delay business processes. These requirements are fuelling a multi-billion dollar industry.
It is also an industry that we expect to be massively impacted by machine learning. We are therefore delighted to announce our investment in lengoo (Redalpine Capital IV), the Berlin-based AI-first translation tech company.
Founded in 2014 by Philipp Koch-Büttner, Christopher Kränzler, and Alexander Gigga, lengoo supplies already more than 3,000 of the biggest companies in Europe with AI-powered translation services in over 400 language combinations. The company has built up a unique competitive position by combining cutting-edge machine translation technology with their large pool of expert translators. With their proprietary, custom-trained neural machine translation systems, lengoo masters enterprise-grade translations. Their end-to-end service cuts translation costs by 50%, shortens turnaround times by a factor of up to 3, and increases the consistency of translations.
The €6 Mio Series A funding round was led by Redalpine, with participation of existing investors Creathor Ventures, Piton Capital and selected business angels. The funds will be used for team growth, market penetration and to further build out the product for enterprise customers.
The funding round was covered on a number of channels, including Wirtschaftswoche.