Boston-based startup Smartcat has successfully raised $43 million in a Series C funding round led by Left Lane Capital, bringing its total funding to $70 million. Founded in 2016 by Ivan Smolnikov, Smartcat aims to transform the traditional translation agency model by leveraging AI to streamline and automate the translation process.
Smartcat’s platform offers a comprehensive suite of tools, apps, and managed services designed to help enterprises translate written and spoken content into approximately 280 languages. The platform utilizes a “matching engine” to determine the most suitable third-party AI model for specific content and target languages. Additionally, Smartcat fine-tunes translation models, including those trained by customers, to enhance accuracy and efficiency.
The company boasts a diverse clientes, including over 1,000 corporate customers, 20% of whom are Fortune 500 companies. Various local and international government entities also utilize Smartcat’s services. The platform provides multiple translation options, such as AI translation, human translation, or a combination of both, ensuring flexibility and quality.
One of Smartcat’s key innovations is its full-cycle AI video translation and dubbing solution, which enterprise clients have widely adopted. This solution enables organizations to quickly translate video content, facilitating effective communication with global audiences. Additionally, Smartcat has introduced an AI-driven learning content creation tool, empowering Learning & Development teams to produce multilingual educational materials efficiently.
The new funding will be used to expand Smartcat’s 200-person team, enhance product development, and support ongoing marketing and sales efforts. This investment underscores the growing importance of AI in the translation industry and Smartcat’s leading role in providing scalable, cost-effective multilingual content solutions
