Anyone who regularly needs online translations has trusted the Cologne start-up Deepl for years. It is now valued at $1 billion in a financing round and is therefore considered a unicorn.
There are many translation services, but the best results are obtained by a relatively small company in Cologne. Deepl relies on AI technology for its service and achieves amazing results. These are generally superior to those of Google Translate.
100 million secured funding
What was still an insider tip years ago has now become a highly rated company. Deepl uses neural networks for its service and successfully.
As the Kölner Stadt-Anzeiger reports, a funding round is now complete. It would have brought in 100 million euros. This would make Deepl Cologne’s first unicorn. In business, a unicorn is a company that is not publicly traded but has a market value of at least $1 billion.
Performance instead of offensive marketing
Business Insider previously reported that not only U.S. investors like Bessemer and IVP participated in the funding round, but also European venture capitalist Atomico. At Deepl they are initially closed, which corresponds to the philosophy of the company. The focus here is not on aggressive marketing and public relations, but on performance.
This should have convinced investors. Deepl has only been on the market since 2017 and currently employs around 400 people. The deepl.com site is now part of the world’s top 100. The company attributes the high quality of the translations to its own improvements in the mathematics and methodology of neural networks. The results are said to be up to six times more accurate than those of other providers.
Significantly outperforms the competition
Tests from independent vendors have shown that Deepl clearly outperforms its competitors. However, the range of supported languages still lags behind those of Google Translate. While the search engine giant supports 133 languages, Deepl currently only offers 29 languages. La Licorne de Cologne translates 5,000 characters for free.
If you want unlimited access to Deepl’s services, a subscription is required. Depending on the needs, these are available from a price of 5.99 euros per month.
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