Smartcat, an artificial intelligence translation platform company in Boston, has recently announced the completion of $ 43 million in Series C financing. This round of financing will be used to expand teams, improve products and strengthen marketing and sales. Smartcat was founded in 2016 and is committed to providing enterprises with efficient translation solutions. Its customers cover large multinational companies and government agencies, of which 20%are Fortune 500 companies. The uniqueness of SmartCat lies in its "matching engine". The engine can select the model that is most suitable for specific content from many third -party models, and combines artificial translation and editing services to provide customers with comprehensive language solutions.
Recently, Smartcat, headquartered in Boston, announced that it has successfully raised $ 43 million in Series C financing, which will further promote the development of its artificial intelligence translation platform.
Smartcat was founded in 2016 and focused on providing efficient translation solutions for enterprises. Co -founder and CEO Ivan Smolnikov said that the company has more than 1,000 corporate customers, of which 20% are Fortune 500 companies, and the customer scope covers large multinational companies and multiple government agencies.
Smolnikov's background is quite legendary. Before the establishment of SmartCat, he was a physicist who mainly studied fiber fiber materials. Later, he chose the road to entrepreneurship, initially founded the language service company Abbyy LS, and hatched SmartCat on this basis. At the beginning of its establishment, Smolnikov was determined to subvert the traditional model of traditional turning institutions. He hoped to provide enterprises with multi -language content efficiently through the AI platform.
Smartcat's current service scope is very wide, supporting translation and oral content into 280 languages. It is worth mentioning that SmartCat does not necessarily train the translation model by itself, but which third -party model is most suitable for specific content through the "match engine". Although there are occasional errors in artificial intelligence, SMARTCAT also provides artificial translation and editing services, and customers can choose different translation methods as needed.
Regarding the company's development, Smolnikov said that financing funds will be mainly used to expand teams and promote product development to enhance marketing and sales activities. Investors also gave SMARTCAT's development prospects Vinny Pujji, a management partner of Left Lane Capital, said that SmartCat can continue to occupy competitive advantages in the market with its unique advantages.
Finally, with the continuous growth of the AI translation industry, the future market prospects are also very optimistic. According to relevant research, the global machine translation market is expected to maintain a stable growth, and SmartCat obviously has a good development foundation in this competition.
Points:
Smartcat has recently received $ 43 million in financing, plans to use team expansion and product development.
? The company currently has more than 1,000 corporate customers, including 20% of Fortune 500 companies.
SmartCat provides enterprises with content processing solutions for various languages through the AI translation platform and artificial translation services.
SMARTCAT's successful financing and its unique AI translation platform indicate its broad development prospects in the global machine translation market. With its efficient solution and the spirit of continuous innovation, SmartCat is expected to become the leader of the field of artificial intelligence translation.