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Linguee is essentially a translation memory: it consists of millions of language-pair parallel segments. So how did they do it? Timing Is EverythingĭeepL was originally founded in 2009 in Cologne, Germany as Linguee, an online dictionary. Now, four years after initial release, DeepL has indeed taken its position alongside Google, Microsoft, Facebook, and Amazon as a industry-leading MT provider. CEO Jaroslaw Kutylowski told Slator in a 2017 interview, “We are a German company and we’re aware that we are going up against US-based firms.” Regulatory filings also show that DeepL reported EUR 142,000 in annual profit for 2020, down from EUR 0.95m in 2019 - which suggests the company is heavily investing back into the business.įrom inception, the founders of DeepL had always meant to take on big tech. However, certain limited information indicates that DeepL’s revenues in 2020 had not yet exceeded EUR 40m, a key regulatory threshold.
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Germany does not require companies to publicly file full financial accounts. An acceleration in hiring activity this year, particularly over the last three months, makes it likely that the number of full-time employees has surpassed 150.įinancial data about DeepL is hard to come by. The number of full-time staff at DeepL doubled between 20 from 43 to 86, according to regulatory filings. Among other investors are btov, a European venture capital firm with offices in Germany, Switzerland, and Luxembourg. In 2018, the company attracted an investment from one of Silicon Valley’s most high-profile venture capital firms, Benchmark Capital, which took a 13.6% stake.
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It’s really an amazing evolution.” Funding and Growth “Terminology has always been the weakest element of machine translation integration, but the new glossary provides a marriage of our terminology with the high quality of DeepL. Kraus sees it as a significant advance in DeepL’s offering.
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I echo many other users in saying it has the best results in terms of grammar, style, and fluency.”Ī new glossary feature, rolled out by DeepL in May 2020, allows users to define and enforce custom terminology. Why DeepL and not another MT provider? Kraus is unequivocal: “It’s simply amazing. DB’s Head of Language Management, Annette Kraus, told Slator that it quickly became popular and is now heavily used across the company daily. Deutsche Bahn (DB), the world’s second largest transport company, started using DeepL three years ago.