Smartcat has secured $43 million in new funding.

The company operates a cloud-based platform that helps businesses, translators, and agencies with translation and localization. The developer of artificial intelligence applications also runs a marketplace for organizations in need of a translator.

The financing comes from Left Lane Capital. It will support the growing demand for Smartcat’s AI-based translation and multilingual content generation applications and services, the company says.

“This new funding recognizes our success to date and will help accelerate our current and future AI offerings for global teams,” says Smartcat founder and CEO Ivan Smolnikov.

Smartcat funding

Smartcat’s applications support over 281 languages and 40 file formats, including Microsoft Office, subtitles, and images, the company says.

By using AI matching algorithms, Smartcat can connect all kinds of clients — including businesses that require translation services — with specialist translation agencies and freelance translators. Its marketplace also features a network of more than 500,000 professional human content editors. They help companies that need to review translate content, whether it’s done by a machine or a human, according to a blog post on Siliconangel.com.

The startup also provides various software to help customers automate their translation routines, including workflow management and collaboration tools, translation review, pricing automation, payment infrastructure and so on. In addition, its smart engine makes it simple for organizations to reuse previously translated content whenever one of their employees begins a new task, helping to slash their translation budget by up to 80%, according to the blog post.

“Traditionally, enterprises relied on outsourcing to agencies. Insourcing was another approach, but when done manually, it struggled with scalability,” Smolnikov says. “Smartcat’s focus on language AI quality provides a practical alternative.”

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