Unbabel, the AI+human translation platform, has raised a $60 million Series C round, led by Point72 Ventures, along with e.ventures, Greycroft, and Indico Capital Partners. The latest investment is nearly three times the $23 million Series B raised in 2018, bringing the company’s total funding to $91 million.
Combining state-of-the-art AI with a global community of translators, Unbabel enables companies to offer multilingual customer service around the world. Brands such as Microsoft, Booking.com, Facebook, and easyJet use the platform, citing increased customer satisfaction and cost savings up to 76 percent.
Already rapidly expanding across the USA, Europe, and Asia, Unbabel will use the new funds to accelerate further global expansion and strengthen its AI. The company will also build out its new AI research lab in Pittsburgh, as it continues to develop its award-winning Quality Estimation & Post-Editing technologies.
Speaking to the company’s growth and the need for such technology, Vasco Pedro, co-founder and CEO of Unbabel said, “We are now translating over 1,000,000 customer service messages a month. That’s over five times the volume we saw in 2018, which underscores the global demand for agile multilingual customer service. Now, we have the opportunity to develop the next generation of the ‘Translation-as-a-Service’ (TaaS) platform that will power enterprise communications of the future and ultimately become the world’s translation layer.”