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DeepL announces $300 million investment at $2 billion valuation fueled by global demand for AI language solutions
- Index Ventures led heavily oversubscribed round with participation from late-stage investment firms ICONIQ Growth, Teachers’ Venture Growth, and more
- Rapid enterprise adoption of DeepL has fueled the company’s growth in 60+ global markets for 100,000+ businesses, governments, and other organizations
- DeepL’s Language AI Platform for business provides category-leading AI-powered translation and writing solutions
COLOGNE, Germany, May 22, 2024 /PRNewswire/ — DeepL, a leading Language AI company, today announced $300 million of investment at a $2 billion valuation. Led by Index Ventures, the heavily oversubscribed round attracted strong support from new investors, who will bring their extensive expertise, connections, and resources to support DeepL’s growth and long-term vision to transform the way companies communicate around the world. Additional late-stage investors, including ICONIQ Growth, Teachers’ Venture Growth, and others, also participated, along with existing investors IVP, Atomico, and WiL.
“We’re approaching an inflection point in the AI boom where businesses who are racing to adopt the technology begin to discern between hype versus solutions that are secure and actually solve real problems in their business,” said Jarek Kutylowski, founder and CEO of DeepL. “This new investment comes during what is on track to be DeepL’s most transformative year yet and is a testament to the crucial role that our Language AI platform has in solving the complex linguistic challenges global companies face today. We’re highly focused on continued growth and innovation to expand our solutions and ensure they remain industry-leading in terms of quality, precision, and security. This will bring us closer to a future where every company, regardless of location, can operate seamlessly on a global scale with our AI.”
The new investment comes during a period of significant growth and momentum for DeepL, which has amassed a customer network of 100,000+ businesses, governments, and other organizations worldwide. This network includes Zendesk, Nikkei, Coursera, and Deutsche Bahn, who rely on its highly accurate and secure enterprise Language AI platform to deliver seamless communication, driving international growth and cost savings. In response to surging demand from global enterprises, DeepL has accelerated its expansion efforts and strategic investments into key markets over the past year. In January 2024, DeepL deepened its commitment to the U.S.—now its third largest market—by opening its first office in the region. The company continues to expand its team in the U.S. to support growing demand.
Within the last 12 months, DeepL has also substantially broadened its product offerings tailored for businesses. In April 2024, the company launched DeepL Write Pro, a writing assistant specifically tailored for business writing, powered by its own proprietary LLM technology. The company also continues to expand the range of languages supported by its platform with the recent additions of Arabic, as well as Korean and Norwegian, bringing its total number of languages to 32.
“DeepL’s runaway success is a bit of an ‘open secret’ in the business community,” said Danny Rimer, who led the investment from Index Ventures. “The company is exceptionally thoughtful about creating cutting-edge AI products that deliver real and immediate value to their customers. Jarek and the rest of the DeepL team are equally research and commercially minded – both of which are key to the company’s success.” Index Ventures is recognized for its investments in highly successful SaaS businesses like Figma, Slack, Wiz, and Scale AI.
Demand for AI solutions among global enterprises is on the rise. A recent IBM study found that 42% are already actively deploying AI and 40% are exploring its potential. Within this rapidly evolving landscape, DeepL is leading the way in applying AI to transform the $67.9 billion language industry, which is projected to grow to $95.3 billion by 2028.
Since its inception in 2017, DeepL has become the Language AI provider of choice for businesses across multiple industries including manufacturing, legal, retail, healthcare, technology, and professional services. The company’s specialized Language AI platform has become a critical investment for global businesses today, addressing a variety of communication challenges ranging from internal communications to customer support and international market expansion. Unlike general-purpose AI systems, DeepL’s cutting-edge translation and writing solutions rely on specialized AI models specifically tuned for language, resulting in more precise translations for a variety of use cases and a reduced risk of hallucinations and misinformation. In business translation and writing, accuracy is paramount, making specialized AI models the most reliable and preferred solution for language challenges.
DeepL’s Language AI platform is also proven to drive significant cost savings and efficiencies. A 2024 Forrester study revealed that the use of DeepL delivered 345% ROI for global companies, reducing translation time by 90% and driving a 50% in workload reduction, underscoring, in our opinion, the power of its platform for businesses looking to grow their revenue and enter new markets faster and at scale.
“At Zendesk we see first hand the power of infusing AI tools into customer experience, and DeepL’s industry-leading translation is a prime example,” said Adrian McDermott, CTO, Zendesk. “The ability to have accurate AI translation allows companies from startups to large enterprises the ability to scale globally, reaching prospects and existing customers in new ways. Zendesk’s open and flexible platform allows for seamless partnerships, and the tangible results we’ve seen so far from joint customers have us looking forward to continued work with DeepL.”
Looking ahead, DeepL will continue to invest in research and product innovation to strengthen its suite of leading AI communication tools for businesses. The company is also doubling down on global market expansion and talent recruitment across multiple areas including AI research, product, engineering, and GTM.
About DeepL
DeepL is on a mission to break down language barriers for businesses everywhere. Over 100,000 businesses, governments and other organizations and millions of individuals in 63 global markets trust DeepL’s Language AI platform for human-like translation and better writing. Designed with enterprise security in mind, companies around the world leverage DeepL’s AI solutions that are specifically tuned for language to transform business communications, expand markets and improve productivity. Founded in 2017 by CEO Jaroslaw (Jarek) Kutylowski, DeepL today has over 900 passionate employees and is supported by world-renowned investors including Benchmark, IVP and Index Ventures.
Contact:
Sebastian Ries
Openers GmbH
[email protected]
+49 1578 058 8488
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The financial technology sector is experiencing a surge of strategic collaborations and innovative solutions to enhance security and compliance.
From strengthening know your customer (KYC) and anti-money laundering (AML) processes to introducing advanced biometric identification features, companies are making significant strides to safeguard their operations and customer transactions. ComplyCube and Signicat have each added capabilities to benefit regulated businesses, while Identomat has announced two new clients, and iDenfy has revealed a customer win.
ComplyCube Adds Trust Center to KYC, AML Platform
ComplyCube has launched a Trust Center to enhance its identity verification, KYC, and AML platform, helping clients navigate complex regulatory scenarios.
The company highlights that compliance failures cost businesses over 2.7 times more than maintaining regulatory obligations, and those with robust compliance programs incur 30 percent lower costs for security incidents.
The new Trust Center features a real-time compliance dashboard and a resource hub with documents, certification information, and regulatory guidelines. It also offers incident reporting and tracking.
“Clients and partners can find answers to many data protection questions, view active controls, and request documents for due diligence,” says ComplyCube Business & Partnerships Manager Joshua Dent. “It’s great to see this platform live following our recent certifications, such as UK DIATF, ISO 9001, PAD Level 2 ISO 30107-3, and ISO 27001:2022 upgrade.”
Signicat Rolls Out Selfie Biometric Authentication
Signicat has introduced biometric facial authentication to its MobileID platform to enhance the security of mobile apps for financial and regulated service clients.
Signicat’s Face Authentication includes a 3D liveness check and face match, effectively protecting against fraud involving photos, deepfake videos, and other spoofs.
Identity fraud driven by AI is a growing threat, accounting for over 42 percent of total attacks, according to a recent Signicat report.
“As fraud tactics evolve, so must our solutions,” says Simone Andersson, Signicat Product Manager for Mobile Identity. “This new feature is a testament to our dedication to staying ahead of the curve and ensuring our clients can operate securely in the digital landscape. Our MobileID solution is PSD2 compliant and meets all requirements from regulated sectors.”
NovaPay and WARD Ops Select Identomat
NovaPay, a provider of online and offline financial services in Ukraine, has partnered with Identomat to improve its KYC and AML processes. This collaboration aims to bolster NovaPay’s ability to offer secure and efficient financial services.
Identomat’s AI-powered technology supports remote identity verification, ensuring compliance with regulatory requirements in over 200 countries and mitigating financial transaction risks. In just six months, NovaPay and Identomat have already served nearly a quarter of a million customers.
David Lomiashvili, CEO of Identomat, expressed enthusiasm about the partnership, highlighting the company’s commitment to optimizing identity verification processes. Identomat has passed several security and compliance evaluations, including iBeta level 2, ISO/IEC 30107-3, and ISO/IEC 27001. Together, NovaPay and Identomat aim to set new standards in customer verification and fraud prevention in Ukraine’s financial industry.
WARD Ops, an IT outsourcing provider, has also announced a strategic partnership with Identomat to enhance digital operations. WARD Ops offers services such as monitoring, incident management, QA, robotic process automation, software implementation, and integrations.
Identomat provides AI-driven identity verification and KYC solutions to support secure and compliant operations. The partnership aims to enhance security protocols and deliver integrated solutions, representing a significant step forward in providing businesses with a seamless, secure, and efficient operational environment.
iDenfy Chosen by Watchdreamer for Enhanced Security
Watchdreamer, a watch e-commerce marketplace in Switzerland, has selected Lithuania-based iDenfy to enhance its customer verification processes. iDenfy’s KYC software will ensure the authenticity of Watchdreamer’s customers, streamlining the user registration process and providing a secure purchasing experience.
The partnership addresses the challenges of fraud and money laundering in the luxury watch market. iDenfy’s advanced biometric and facial recognition algorithms will help verify the identity of users, ensuring compliance with legal requirements and increasing transparency.
Ronan Pensivy, COO of Watchdreamer, emphasizes the importance of compliance and providing an exceptional client experience. Domantas Ciulde, CEO of iDenfy, highlights the collaboration’s goal of delivering a secure and efficient online shopping journey for Watchdreamer’s customers.
Source: biometricupdate.com
The post ComplyCube, Signicat add features to strengthen fintech AML capabilities appeared first on HIPTHER Alerts.
SYDNEY, June 21, 2024 /PRNewswire/ — Extending its winning streak, global multi-asset Forex and CFD broker, FP Markets, was crowned ‘Most Transparent Broker’ and also took home ‘Best Trading Conditions’ for the second year in a row at the highly anticipated Global Ultimate Fintech (UF) Awards 2024. Following last year’s ‘Most Trusted Broker’ acknowledgement and the ‘Best Trade Execution’ award received in 2022, the FP Markets trophy cabinet now includes five esteemed Global UF Awards.
Established to honour the most outstanding B2C and B2B brands in the online trading and fintech domain and provide traders and businesses with an industry benchmark, the UF Awards are widely considered as one of the sector’s most sought-after prizes. Claiming two accolades this year marks another significant milestone in FP Markets’ 19-year history, especially since the UF Awards are directly determined by the votes of industry professionals, fintech enthusiasts, and online traders.
Invited on stage to receive the award, FP Markets CEO Craig Allison expressed his gratitude and commented: ‘The two UF Awards we’ve won tonight are the embodiment of what we strive to achieve as a company on a daily basis: deliver a superior trading destination for traders while at the same time uphold our core values of integrity, transparency and innovation and we continue to find ways to provide the best possible trading conditions’.
The awards ceremony took place at the exclusive Columbia Beach venue in Limassol, Cyprus, as part of the closing party of the 13th iFX EXPO International. With a record-breaking attendance of over 4,000 visitors from 120 countries and 1,400 companies, the iFX EXPO International – one of the flagship gatherings for the trading industry – brought together executives from the world’s top financial brands, fintech innovators and other stakeholders. Earlier in the week, FP Markets Global Head of Marketing, Andria Phiniefs was a guest on the panel at the iFX Expo’s Idea’s Hub ‘Marketing Beyond the Transaction: Building a Trusted Trading Brand’ speaking about the significance of ‘brand trust and reputation’ as the most important drivers behind the broker’s growth strategy.
Notes to Editors
About FP Markets:
- FP Markets is a Multi-Regulated Forex and CFDs Broker with over 19 years of industry experience.
- The company offers highly competitive interbank Forex spreads starting from 0.0 pips.
- Traders can choose from the leading powerful online trading platforms, including FP Markets’ Mobile App, MetaTrader 4, MetaTrader 5, WebTrader, cTrader, Iress and TradingView.
- The company’s outstanding 24/7 multilingual customer service has been recognised by Investment Trends and awarded ‘The Highest Overall Client Satisfaction Award’ over five consecutive years.
- FP Markets was awarded ‘Best Global Forex Value Broker’ for five consecutive years (2019, 2020, 2021, 2022, 2023) at the Global Forex Awards.
- FP Markets was awarded the ‘Best Forex Broker – Europe‘ and the ‘Best Forex Partners Programme – Asia‘ at the Global Forex Awards 2022 and 2023.
- FP Markets was awarded ‘Best Trade Execution’, and ‘Most Trusted Broker’ and ‘Best Trade Execution’ at the Ultimate Fintech Awards 2022 and 2023.
- FP Markets was crowned ‘Best CFD Broker in Africa‘ at FAME Awards 2023.
- FP Markets was awarded ‘Best Trade Execution’ and ‘Most Transparent Broker’ at the Ultimate Fintech Awards APAC 2023.
- FP Markets regulatory presence includes the Australian Securities and Investments Commission (ASIC) Financial Sector Conduct Authority (FSCA) of South Africa, the Financial Services Commission (FSC) of Mauritius, the Cyprus Securities and Exchange Commission (CySEC), the Securities Commission of the Bahamas (SCB) and the Capital Markets Authority (CMA) of Kenya.
- FP Markets was awarded the Best Price Execution Award at the Brokersview Awards 2024 Singapore.
- FP Markets was awarded the ‘Best Trading Experience – Africa‘ at FAME Awards 2024.
For more information on FP Markets’ comprehensive range of products and services, visit https://www.fpmarkets.com/
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AMSTERDAM, June 21, 2024 /PRNewswire/ — New Amsterdam Invest N.V. (the “Company”, or “New Amsterdam Invest”, or “NAI”), listed on Euronext Amsterdam, announces that at its annual general meeting of shareholders, held today at Van der Valk Hotel Utrecht, the Netherlands (“AGM”), all resolutions were duly passed.
This means amongst others, that the proposed interim dividend payment has been approved; 99.90% of the NAI-shareholders voted in favor. The results of all other voting items are listed below.
Other resolutions passed at the AGM
The AGM adopted the following items including the votes cast.
As at the AGM, in total 5,315,355 votes could be validly cast. The total number of shares for which valid votes were cast at the AGM amounted to 1,965,966 being 37% of the issued and outstanding share capital of NAI.
In accordance with section 2:120 paragraph 5 of the Dutch Civil Code, the outcome of the voting on the proposals discussed at the AGM is as follows:
|
Agenda item |
For |
% |
Against |
% |
Abstain |
% |
|
|
5 |
Adoption of annual |
1,945,966 |
99.49 |
0 |
0.00 |
10,000 |
0.51 |
|
6 |
Advisory vote on the |
1,860,966 |
94.66 |
0 |
0.00 |
105,000 |
5.34 |
|
7 |
Discharge of each of the i. Aren van Dam
ii. Arie Johannes Maarten
iii. Cornelis Maartinus
iv. Elisha Sjemtov Evers |
i. 1,953,966
ii.1,893,966
iii. 1,878,966
|
99.39
97.33
96.56
97.61 |
2,000
42,000
42,000
2,000 |
0.10
2.16
2.16
0.10 |
10,000
10,000
25,000
45,000 |
0.51
0.51
1.28
2.29 |
|
8 |
Discharge of each of the i. Jan Louis Burggraaf
ii. Paulus Johannes iii. Elbert Dijkgraaf |
i. 1,918,966
ii. 1,928,966
iii. 1,938,966 |
98.61
98.12
98.63 |
2,000
2,000
2,000 |
0.10
0.10
0.10 |
25,000
35,000
25,000 |
1.28
1.78
1.27 |
|
9 |
Authorisation of the Board |
1,930,966 |
98.22 |
0 |
0.00 |
35,000 |
1.78 |
|
10 |
Designation of the Board of |
1,930,966 |
98.22 |
0 |
0.00 |
35,000 |
1.78 |
|
11 |
Designation of the Board of |
1,930,966 |
98.22 |
0 |
0.00 |
35,000 |
1.78 |
|
12 |
Re-appointment of BDO |
1,965,966 |
100.0 |
0 |
0.00 |
0 |
0.00 |
|
14 |
Interim dividend payment |
1,963,966 |
99.90 |
2,000 |
0.10 |
0 |
0.00 |
Financial Calendar 2024
- Approval interim dividend € 0,225 per ordinary share: 21 June
- Ex-dividend: 25 June
- Record date: 26 June
- Payment date: 28 June
- Publication of unaudited Half Year Report 2024 NAI: 29 August
About New Amsterdam Invest
New Amsterdam Invest N.V. is a commercial real estate company listed at Euronext Amsterdam with operating companies in the United States and the United Kingdom.
The main objective of New Amsterdam Invest is running commercial activities including the owning, (re-)developing, acquiring, divesting, maintaining, letting out and/or otherwise operating commercial real estate, all in the broadest possible meaning.
All information about New Amsterdam Invest, including its principles and objectives can be found on the company website: www.newamsterdaminvest.com
Disclaimer
Elements of this press release contain or may contain information about New Amsterdam Invest N.V. within the meaning of Article 7(1) to (4) of the EU Market Abuse Regulation.
This press release may include statements, including NAI’s financial and operational medium-term objectives that are, or may be deemed to be, ”forward-looking statements”. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms ”believes”, ”estimates”, ”plans”, ”projects”, ”anticipates”, ”expects”, ”intends”, ”may”, ”will” or ”should” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect NAI’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to NAI’s business, results of operations, financial position, liquidity, prospects, growth or strategies. Forward-looking statements speak only as of the date they are made.
View original content:https://www.prnewswire.co.uk/news-releases/new-amsterdam-invest-nv-annual-general-meeting-results-interim-dividend-approved-302179100.html
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