Smartcat Raises $43M in Series C Funding to Meet Growing Demand for AI-Based Translation Solutions
Smartcat is an AI-powered solution that allows businesses to efficiently translate and generate content at scale, enhancing their global reach and operational efficiency.
Company Name: Smartcat
Location: Boston, MA
Sector: Enterprise Language AI, Translation, Multilingual Content Generation
Funding Details: Raised $43 million in Series C funding, led by Left Lane Capital.
Purpose of Investment: The company plans to use the funds to support the growing demand for its AI-based translation and multilingual content generation solutions.
Product and Innovation: Led by Founder and CEO Ivan Smolnikov, Smartcat provides an enterprise language AI platform with over 100 use cases across various teams, including learning and development, marketing, localization, product, and ecommerce. The platform can translate content into over 280 languages and enables global teams to generate new content using existing corporate materials, streamlining multilingual communication and content creation.
About the Company: Smartcat is trusted by over 1,000 global enterprises, including 20% of the Fortune 500, to facilitate communication worldwide. Its AI-powered solutions allow businesses to efficiently translate and generate content at scale, enhancing their global reach and operational efficiency.