Latvia’s Lokalise locates $50 million in new funding round

Riga-founded/remote-first startup Lokalise has raised $50 million in a Series B funding round. The platform provides a series of integrations that plug into an organisations’ existing processes to reduce the time it takes to localise by up to 90%. The new funding will be used to further fuel the company’s hiring, product development, and expansion of partnerships. With this round, Lokalise has raised a total of $56 million.

Built on the premise that consumers shouldn’t be limited by language and the belief that companies that offer multilingual systems grow ever the faster. With the traditional process of localisation and translation involving hundreds of manual hours to produce, the method is simply impractical for teams that need to release product updates, tests, or new features on an ongoing basis.

Lokalise offers a service that streamlines the process and collaboration between developers, designers, translators, and project managers through a variety of APIs, SDKs, and plug-and-play connectors that automate data input from prototyping platforms right on through to production.

The startup services over 2,500 customers ranging from startups to Fortune 500 companies and includes major brands such as BASF, Revolut, Monday.com, and Arduino.

"Localization and translation are obvious growth strategies that most companies ignore for far too long," explains co-founder and CEO Nick Ustinov. CRO Petr Antropov added, "This new funding makes it possible for us to help more businesses understand, and act on, the need to make their products multilingual from day one.”

Lokalise’s $50 million Series B round was led by CRV with Creandum, Dawn Capital, and existing investors including Chalfen VC, 3VC, S16VC, and a number of angel investors all participating.

“This is a product we’ve seen grow from a key developer tool for embedding localisation into the development cycle, into the only end-to-end collaboration and management platform for translation and localisation,” commented Dawn Capital’s Mina Mutafchieva Van Ingelgem. “With a huge addressable market, which is still growing, Lokalise is a product that truly sells itself. This, coupled with Nick and Petr's impressive track record and vision for the business, as well as the triple-A team they are assembling around them means we’re extremely proud to be investing in this $50 million round to drive the next stage of growth.”