12 May, 2020, 09:00 ET
SAN FRANCISCO, May 12, 2020 /PRNewswire/ -- Lilt, the AI-powered enterprise translation software and services company, today announces it has raised $25 million in Series B funding. Intel Capital led the round, with participation from existing investors Sequoia Capital, Redpoint Ventures, In-Q-Tel, Zetta Venture Partners, and XSeed Capital. Mark Rostick, vice president and senior managing director at Intel Capital, joins Lilt's board of directors. The round, which brings the total raised by the company to $37.5 million, will help fund additional development in the company's enterprise translation software and further research in its natural language processing technology, as well as accelerate its go-to-market strategy.
"By enabling the organizations that create and manage knowledge to make it available to more people in more languages, we can achieve our mission of making the world's information accessible to everyone regardless of where they were born or which language they speak," said Lilt CEO and Co-Founder Spence Green. "We're excited to have Intel Capital as an investor and excited to have an industry-leader like Intel Corporation as a customer that recognizes the power of our technology."
Intel IT has recently added Lilt to its language services portfolio. "We have been looking for an innovative provider that can help us achieve short-term productivity gains, simplify our language technology solutions, and leverage artificial intelligence to reinvent the way we approach localization in the long-term," said Loïc Dufresne de Virel, manager of Intel's in-house localization team. "Lilt met the criteria we had been searching for and presents new opportunities to explore the benefits of their adaptive neural MT solution running on Intel CPUs. This is an interesting use case and application of machine learning."
Lilt's AI-powered solution combines adaptive neural machine translation technology, an enterprise translation management system, and world-class professional translators to give organizations everything they need to scale their translation programs, go-to-market faster than ever, and improve the global customer experience. By simplifying the translation process, while preserving high translation quality that captures an organization's tone and brand voice, Lilt's technology helps companies meaningfully increase the ROI of their translation programs.
"Lilt excels at combining machine translation with human translators, and is able to scale globally, regardless of language," said Mark Rostick, vice president and senior managing director, Intel Capital. "The Lilt team's rich heritage of working with leading companies across the globe, combined with their domain expertise, sets them apart as one of the world's leading AI-powered language service providers."
Lilt's customers include Fortune 500 companies like Intel, consumer brands such as ASICS, some of the fastest-growing technology companies such as WalkMe, Sprinklr, DigitalOcean, and Canva, and other leading financial, media, healthcare, and manufacturing companies around the world. Lilt is based in San Francisco and Berlin and has recently opened additional offices in Indianapolis and Dublin, Ireland.
Headquartered in San Francisco, Lilt is an AI-powered enterprise language translation company on a mission to make the world's information accessible to everyone regardless of where they were born or which language they speak. The Lilt platform combines adaptive neural machine translation technology with an enterprise translation management system that empowers product, marketing, support, e-commerce, and localization teams to move faster than ever. Lilt gives industry-leading organizations like Intel, ASICS, WalkMe, DigitalOcean, and Sprinklr everything they need to scale their translation programs, go-to-market faster, and deliver exceptional customer experiences to global audiences. Visit us online at www.lilt.com.
Kat Eller Murray
Roam Communications for Lilt
SOURCE Lilt, Inc.
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