VC firms invest $23m in Unbabel
A consortium of VC firms and corporate venturing arms have backed a $23m series-B for Lisbon-based translation platform Unbabel.
The group of investors includes Scale Venture Partners, Notion, Microsoft Ventures, Salesforce Ventures, Samsung Next and Funders Club.
The fresh capital will be used to scale the business in order to meet the growing demand from global brands to serve customers in their native language.
Previous funding
In January 2014, Unbabel received seed funding from accelerator Y Combinator and Fundersclub. This was supplemented with an extra $1.5m from angel investors later in the year.
A syndicate of Workday Ventures, Investo and Caixa Capital invested a further $1.5m in seed funding in May 2015 before both investing in the company's $5m series-A in October 2016. The series-A round was led by Shilling Capital Partners along with Notion and Faber Ventures.
Company
Founded in 2013 and headquartered in Lisbon, Unbabel develops a proprietary technology platform that combines natural language processing, neural machine translation, quality estimation algorithms and a global network of 55,000 translators to enable translation of content. It has dedicated integrations for Salesforce, Zendesk, WordPress, Mailchimp and other platforms.
People
Scale Venture Partners – Andy Virus (partner).
Unbabel – Vasco Pedro (CEO).
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