XL8 Secures $7.5M in Series A Funding to Accelerate Global Expansion of its AI-Powered Machine Translation Platform, Eyes Broader Industry Integration
The recent round of funding allows XL8 to foster partnerships and integrated solutions across diverse industries necessitating localization, such as live broadcasts, e-commerce, call centers, live events, and conferences.
Company Name: XL8
Location: San Jose, CA
Product: AI-powered machine translation technology optimized for media content
Funding Details:
- Funding led by: KB Investment
- Participation from: Existing investor Atinum Investment
- Total Funding Amount: $7.5M (Series A), $11.5M (Total to date)
- Purpose of Funding: Enhance product offerings, develop core platform business further including integration of generative AI capabilities into proprietary AI technologies, and facilitate global expansion into Europe, the Middle East, and further throughout the Americas.
Leadership: Tim Jung and Chief Revenue Officer Josh Pine
"Our goal is to help localization professionals collaborate quickly and easily, and this round will help us advance our solution so that professionals around the world can focus on their creativity." - Tim Jung, CEO of XL8
About: XL8 stands as a pioneering deep-tech startup dedicated to transforming the realm of machine translation through AI.
With a specialized focus on media content, XL8's technology looks to streamline workflows across a spectrum of applications including in-line editing, automated media transcription with time coding, automated subtitling, synthesized voice dubbing, real-time meeting interpretation, and live subtitling. The heart of XL8's innovation lies in its uniquely crafted translation engines, meticulously honed with professionally trained, human-perfected subtitles derived from the media industry’s content creators.
In a relatively short span since its establishment in 2019, XL8 has achieved remarkable milestones, translating over 800,000 hours of content and more than 2.2 billion words, extending support across more than 45 languages. The momentum continued with its ambitious global market expansion earlier this year into notable regions including the UK, Turkey, and the UAE.
While establishing a formidable presence in the media and entertainment sector, XL8 eyes a broader horizon, aiming to foster partnerships and integrated solutions across diverse industries necessitating localization, such as live broadcasts, e-commerce, call centers, live events, and conferences.