Lengoo raised $20 million in a round led by Inkef Capital with existing investors Redalpine, Creathor Ventures, and Techstars
Lengoo, a Berlin, Germany-based SAAS developer provider of language translation services, announced closing a $20 million series B funding round.
The money was raised from new and existing investors led by Inkef Capital and included contributions from Redalpine, Creathor Ventures, Polipo Ventures, and Techstars, as well as from business angels Volker Pyrtek, Matthias Hilpert and Michael Schmitt.
Proceeds will be used accelerate global expansion and advance the development of their proprietary software framework.
Lengoo, founded in 2014 by CEO Christopher Kränzler, Alexander Gigga and Philipp Koch-Buettner, built a software using ultra customization of neural machine translation models for professional use cases of customer-specific machine translation. The company works with 50+ enterprise customers in Europe and the US including National Instruments, Sunrise Communications, Sixt, and the WWF.
Lengoo previously raised €6M in 2019.