DeepL soars to $2B valuation with $300M investment

Language AI company DeepL announced a $300 million investment at a $2 billion valuation. 

Since its inception in 2017, DeepL’s specialised Language AI platform has become a critical investment for global businesses, addressing various communication challenges ranging from internal communications to customer support and international market expansion. 

DeepL’s cutting-edge translation and writing solutions rely on specialised AI models specifically tuned for language, resulting in more precise translations for various use cases and a reduced risk of hallucinations and misinformation. Accuracy is paramount in business translation and writing, making specialised AI models the most reliable and preferred solution for language challenges. 

DeepL’s Language AI platform drives significant cost savings and efficiencies. A 2024 Forrester study revealed that the use of DeepL delivered 345 per cent ROI for global companies, reducing translation time by 90 per cent and driving a 50 per cent in workload reduction.

According to Jarek Kutylowski, founder and CEO of DeepL:

“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.”

This will bring us closer to a future where every company, regardless of location, can operate seamlessly on a global scale with our AI.”

DeepL has a customer network of 100,000+ businesses, governments, and other organisations worldwide. 

Within the last 12 months, DeepL broadened its product offerings tailored for businesses. In April 2024, the company launched DeepL Write Pro, a writing assistant specifically tailored for business writing, powered by its own proprietary LLM technology. 

The company recently added Arabic, as well as Korean and Norwegian to its languages, bringing the total to 32. 

In January 2024, DeepL deepened its commitment to the US—now its third largest market—by opening its first office in the region. 

Index Ventures led the heavily oversubscribed round. Late-stage investors included ICONIQ Growth, Teachers’ Venture Growth, and existing investors IVP, Atomico, and WiL.

“DeepL’s runaway success is a bit of an ‘open secret’ in the business community,” said Danny Rimer, who led the investment from Index Ventures.

 “Jarek and the rest of the DeepL team are equally research and commercially-minded – both of which are key to the company’s success.” 

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