The German startup has been rivalling giants such as Google Translate

DeepL, the Cologne-based unicorn that has been rivalling machine translation giants such as Google Translate, today announced a new investment of $300mn (€277mn), reaching a $2bn valuation.

Born from online dictionary Linguee, the startup was founded in 2017 by Jarek Kutylowski, who’s also serving as the company’s CEO.

DeepL offers free and premium AI translation services, with a special focus on B2B products, where the company sees the biggest demand.

It now covers 32 languages and counts 100,000 business users. A list that includes the likes of Nikkei, Coursera, and Deutsche Bahn.

The investment follows a period of significant growth for DeepL. Within the last 12 months, the startup has opened its first office in the US and added Arabic, Norwegian, and Korean to its language portfolio. It has also launched new products for businesses, such as the DeepL Write Pro AI assistant.

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