DeepL Announces a $300 Million Investment Fueled by Global Demand for AI Language Solutions

Portfolio
May 22, 2024
min read

DeepL Announces a $300 Million Investment Fueled by Global Demand for AI Language Solutions

Portfolio
Published on
May 23, 2024
min read
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DeepL Announces a $300 Million Investment Fueled by Global Demand for AI Language Solutions

DeepL Announces a $300 Million Investment Fueled by Global Demand for AI Language Solutions

Portfolio
May 22, 2024
min read

We are pleased to share the news that our portfolio company, DeepL, a leading Language AI company, announced $300 million of investment at a $2 billion valuation today. 

Led by Index Ventures, the heavily oversubscribed round attracted strong support from new investors, who will bring their extensive expertise, connections, and resources to support DeepL’s growth and long-term vision to transform the way companies communicate around the world. Additional late-stage investors, including ICONIQ Growth, Teachers’ Venture Growth, and others, also participated, along with existing investors IVP, Atomico, and WiL.


“We’re approaching an inflection point in the AI boom where businesses who are racing to adopt the technology begin to discern between hype versus solutions that are secure and actually solve real problems in their business,” said Jaroslaw (Jarek) Kutylowski, Founder and CEO of DeepL

This new investment comes during what is on track to be DeepL’s most transformative year yet and is a testament to the crucial role that our Language AI platform has in solving the complex linguistic challenges global companies face today. We’re highly focused on continued growth and innovation to expand our solutions and ensure they remain industry-leading in terms of quality, precision, and security. This will bring us closer to a future where every company, regardless of location, can operate seamlessly on a global scale with our AI.”

The new investment comes during a period of significant growth and momentum for DeepL, which has amassed a customer network of 100,000+ businesses, governments, and other organizations worldwide. This network includes Zendesk, Nikkei, Coursera, and Deutsche Bahn, who rely on its highly accurate and secure enterprise Language AI platform to deliver seamless communication, driving international growth and cost savings. In response to surging demand from global enterprises, DeepL has accelerated its expansion efforts and strategic investments into key markets over the past year. In January 2024, DeepL deepened its commitment to the U.S.—now its third largest market—by opening its first office in the region. The company continues to expand its team in the U.S. to support growing demand.

Within the last 12 months, DeepL has also substantially broadened its product offerings tailored for businesses. In May 2024 the company launched DeepL Write Pro, a writing assistant specifically tailored for business writing, powered by its own proprietary LLM technology. The company also continues to expand the range of languages supported by its platform with the recent additions of Arabic, as well as Korean and Norwegian, bringing its total number of languages to 32.

Since its inception in 2017, DeepL has emerged as the Language AI provider of choice for businesses across multiple industries including manufacturing, legal, retail, healthcare, technology and professional services. Unlike general-purpose AI systems, the company’s cutting-edge translation and writing solutions rely on specialized AI models specifically tuned for language, resulting in more precise translations for a variety of use cases, and reduced risk of hallucinations and misinformation. In business translation and writing, accuracy is paramount, making specialized AI models the most reliable and preferred solution for language challenges.

“At Zendesk we see first hand the power of infusing AI tools into customer experience, and DeepL’s industry-leading translation is a prime example,” said Adrian McDermott, CTO, Zendesk. “The ability to have accurate AI translation allows companies from startups to large enterprises the ability to scale globally, reaching prospects and existing customers in new ways. Zendesk’s open and flexible platform allows for seamless partnerships, and the tangible results we’ve seen so far from joint customers have us looking forward to continued work with DeepL.”

b2venture's Florian Schweitzer and DeepL's Jarek Kutylowski in 2024

Looking ahead, DeepL will continue to invest in research and product innovation to strengthen its suite of leading AI communication tools for businesses, with plans to launch speech translation capabilities soon. The company is also doubling down on global market expansion and talent recruitment across multiple areas including product, engineering and GTM.

“DeepL is a truly extraordinary company that we have been backing since the earliest days,” says b2venture founding Partner Florian Schweitzer.  “Jarek and his leadership team have built the company into a global leader in AI for communications, and this outstanding group of new investors will further accelerate that growth. We are very excited about the years ahead for this company.”

We are pleased to share the news that our portfolio company, DeepL, a leading Language AI company, announced $300 million of investment at a $2 billion valuation today. 

Led by Index Ventures, the heavily oversubscribed round attracted strong support from new investors, who will bring their extensive expertise, connections, and resources to support DeepL’s growth and long-term vision to transform the way companies communicate around the world. Additional late-stage investors, including ICONIQ Growth, Teachers’ Venture Growth, and others, also participated, along with existing investors IVP, Atomico, and WiL.


“We’re approaching an inflection point in the AI boom where businesses who are racing to adopt the technology begin to discern between hype versus solutions that are secure and actually solve real problems in their business,” said Jaroslaw (Jarek) Kutylowski, Founder and CEO of DeepL

This new investment comes during what is on track to be DeepL’s most transformative year yet and is a testament to the crucial role that our Language AI platform has in solving the complex linguistic challenges global companies face today. We’re highly focused on continued growth and innovation to expand our solutions and ensure they remain industry-leading in terms of quality, precision, and security. This will bring us closer to a future where every company, regardless of location, can operate seamlessly on a global scale with our AI.”

The new investment comes during a period of significant growth and momentum for DeepL, which has amassed a customer network of 100,000+ businesses, governments, and other organizations worldwide. This network includes Zendesk, Nikkei, Coursera, and Deutsche Bahn, who rely on its highly accurate and secure enterprise Language AI platform to deliver seamless communication, driving international growth and cost savings. In response to surging demand from global enterprises, DeepL has accelerated its expansion efforts and strategic investments into key markets over the past year. In January 2024, DeepL deepened its commitment to the U.S.—now its third largest market—by opening its first office in the region. The company continues to expand its team in the U.S. to support growing demand.

Within the last 12 months, DeepL has also substantially broadened its product offerings tailored for businesses. In May 2024 the company launched DeepL Write Pro, a writing assistant specifically tailored for business writing, powered by its own proprietary LLM technology. The company also continues to expand the range of languages supported by its platform with the recent additions of Arabic, as well as Korean and Norwegian, bringing its total number of languages to 32.

Since its inception in 2017, DeepL has emerged as the Language AI provider of choice for businesses across multiple industries including manufacturing, legal, retail, healthcare, technology and professional services. Unlike general-purpose AI systems, the company’s cutting-edge translation and writing solutions rely on specialized AI models specifically tuned for language, resulting in more precise translations for a variety of use cases, and reduced risk of hallucinations and misinformation. In business translation and writing, accuracy is paramount, making specialized AI models the most reliable and preferred solution for language challenges.

“At Zendesk we see first hand the power of infusing AI tools into customer experience, and DeepL’s industry-leading translation is a prime example,” said Adrian McDermott, CTO, Zendesk. “The ability to have accurate AI translation allows companies from startups to large enterprises the ability to scale globally, reaching prospects and existing customers in new ways. Zendesk’s open and flexible platform allows for seamless partnerships, and the tangible results we’ve seen so far from joint customers have us looking forward to continued work with DeepL.”

b2venture's Florian Schweitzer and DeepL's Jarek Kutylowski in 2024

Looking ahead, DeepL will continue to invest in research and product innovation to strengthen its suite of leading AI communication tools for businesses, with plans to launch speech translation capabilities soon. The company is also doubling down on global market expansion and talent recruitment across multiple areas including product, engineering and GTM.

“DeepL is a truly extraordinary company that we have been backing since the earliest days,” says b2venture founding Partner Florian Schweitzer.  “Jarek and his leadership team have built the company into a global leader in AI for communications, and this outstanding group of new investors will further accelerate that growth. We are very excited about the years ahead for this company.”

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