Smartcat provides an AI-powered translation platform, tools, apps and managed services to help enterprises translate written and spoken content into around 280 languages. The company routes content through a matching engine that selects appropriate third-party translation models and fine-tunes models — including customer-trained models — when useful. Smartcat also offers access to a network of human translators and copy editors for review and charges translators a 2%–8% per-payment fee. Its customer base exceeds 1,000 corporate customers, including roughly 20% of the Fortune 500, and it supports use cases such as e-learning, websites, files, and software. Smartcat was spun out in 2016 from ABBYY LS; co-founder and CEO Ivan Smolnikov previously worked at the Russian Academy of Sciences and ABBYY. The company has a roughly 200-person team and plans to use new funding to expand headcount, product development, and marketing and sales. Smartcat provides a SaaS platform that automates translation workflows and serves as a central collaboration hub for translators, proofreaders, and translation agencies. Its platform integrates with more than 10 machine-translation engines, including Google Translate, Microsoft Translator, Amazon Translate, Baidu, and Yandex, and offers free automation while monetizing human services such as professional translators and proofreaders. The product automates project management, linguist appointments, vendor payouts, and leverages translation memory to reduce repeated work. Smartcat was developed by Abbyy and spun out as an independent company in 2016. The company reported a 520 percent increase in sales last year and operates a network of 200,000 linguists and 5,000 registered translation companies. With the new funding, Smartcat plans to move its headquarters from San Francisco to Boston and focus on growing sales and marketing. SmartCAT, initially developed by multinational AI software company Abbyy and founded by CEO Ivan Smolnikov, provides a cloud translation automation platform. The platform combines translation technologies to lower costs and increase quality and includes a global marketplace of over 60,000 translation professionals. Its CAT platform prevents human errors using translation memories, glossaries, intelligent QA checks and AI algorithms, and offers project managers tools to assemble project-specific teams, track progress and enable effective communication. The latest addition, currently in beta, is chatbots designed to reduce the time needed for analysis and reporting tasks. SmartCAT is used by more than 1,500 companies, including Weebly, Epicor, Coursera, Adherium, YIT, Netcracker and GSK, and serves translators in 100 countries. The company intends to use the $2.8M seed funding to continue developing its technology and to grow internationally.

Total raised

$53M

Funding rounds

3

Latest round

Series C

Latest activity

Sep 2024