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Monday, June 27, 2022

$50M for Latvia’s Lokalise

Lokalise, the leading continuous localization platform, today announced it has raised $50 million in Series B funding led by CRV. They were joined by Creandum, Dawn Capital, existing investors including Chalfen Ventures, 3VC, S16VC, and a number of angel investors.

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Since the last funding round in September 2020, Lokalise has more than tripled its annual recurring revenue. The new funding will further accelerate hiring, product development, and partnerships. It enables Lokalise to deliver on its vision of a world where consumers aren’t limited by language, and companies that have a multilingual offer grow faster. As part of the vision, Lokalise is building a partner ecosystem.

Lokalise believes that 8 billion consumers and users all over the world will soon expect nothing less than their native language in every product or service they use. Lokalise’s current 2,500 customers including BASF, Revolut, Monday.com, and Arduino are on the right track to enjoy faster growth thanks to localization into the native languages of their customers.

Traditional localization and translation involves a time-consuming, difficult to scale email-and-file process that simply does not work for modern teams who release product updates, tests, or new features on a frequent basis. Lokalise provides a localization platform that uses integrations into existing tool chains, automations, and a robust API to reduce the time it takes to localize by 90%.

“The tremendous growth of Lokalise reflects the global community we live in, where a multinational workforce and customer base is the norm and not the exception,” says Reid Christian, General Partner at CRV who will also join the board. “It’s imperative that companies be able to communicate in any language and localize their applications without having to resort to what had been a long manual and expensive process.”

“Localization and translation are obvious growth strategies that most companies ignore for far too long,” said Nick Ustinov, Co-Founder and CEO of Lokalise. “This new funding makes it possible for us to help more businesses understand, and act on, the need to make their products multilingual from day one,” added Petr Antropov, Co-Founder and CRO of Lokalise.

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