Germanbased Lengoo 20m seriescoldeweytechcrunch AI language service provider and natural language processing (NLP) startup, Lengoo, announced that it has raised a €20 million Series C funding round, led by venture capital firm btov Partners and joined by existing investor Earlybird. The deal brings the total amount of investment that has been put into Lengoo to €35 million.
About Lengoo: Redefining Language Services
Lengoo is a Berlin-based AI language service provider, offering natural language processing (NLP) services to its customers. The company was founded in 2016 and quickly rose to the top of the AI language industry, offering customers access to an end-to-end translation and document classification solution. The system integrates artificial intelligence, allowing for faster and more accurate translations and data classification, as well as increased efficiency in the customer’s workflows.
Lengoo’s €20M Series C
Following their Series B funding in September 2019, Lengoo has raised an additional €20M in their Series C round to further expand the company’s services and capabilities. btov Partners has led the round, investing €13M, while Earlybird has invested €7M. Existing shareholders K&S Venture, HV Holtzbrinck Ventures and DN Capital. The money raised in the investment round will be used to bolster the company’s efforts to expand its services to reach a global customer base, as well as to hire more personnel to support the growth.
Strengthening its Position in the Market
According to Lengoo co-founder and CEO, Dr. Johannes Fichte, the company was founded with the goal of “revolutionizing the language service sector with our AI-powered Lengoo Solutions.” With the latest funding round, Lengoo is now in a strong position to achieve this goal. The funds will be used to strengthen its existing platform, which will enable it to provide customers with high-quality services and expanded capabilities. In addition, Lengoo plans to use the funding to expand its client base, providing new and innovative services to a wider range of customers.
In a statement on its website, btov Partners expressed confidence in Lengoo’s vision, saying that the company “will be at the top of the global language services sector in the years to come.” This sentiment was echoed by Henrik Hasenkamp, Partner at Earlybird, who said in a statement, “Lengoo has come a long way since our first investment. We are confident that the team is developing the technology and business to be well positioned for continued success.”
Conclusion
In conclusion, Germanbased Lengoo 20m seriescoldeweytechcrunch AI language service provider and natural language processing (NLP) startup, Lengoo, has announced the closing of their €20 million Series C funding round. Led by venture capital firm btov Partners and joined by existing investor Earlybird, the investment brings the total amount of investment put into Lengoo to €35 million. The funds will be used to bolster the company’s efforts to expand its services to reach a global customer base, as well as to hire more personnel to support the growth. With this funding, Lengoo is now in a strong position to continue its development of an AI-powered language solution and its expansion in the global language services sector.
FAQs
Q1. What is Lengoo?
A1. Lengoo is a Berlin-based AI language service provider, offering natural language processing (NLP) services to its customers.
Q2. How much did Lengoo raise in their Series C round?
A2. Lengoo has raised €20 million in their Series C round.
Q3. What will the funds be used for?
A3. The funds will be used to strengthen the company’s existing platform, expand its client base, and hire more personnel to support its growth.
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