Translation automation platform SmartCAT has raised a $2.8 million seed round from venture fund RedSeed for speeding up its international growth.
SmartCAT, a fresh spinoff of Russia’s ABBYY LS, promises to optimise translation processes while improving quality.
“We first heard about SmartCAT through one of our portfolio companies,” said Ilya Shirokov, Founder and Managing Partner at RedSeed.
“They were using SmartCAT to automate their translation processes and thus significantly reduced their operating costs. As we learned more about SmartCAT, we became impressed with the sophistication of their platform and the dedication of their team. SmartCAT is becoming an increasingly significant component of the $40 billion translation market,” Shirokov said.
Shirokov launched the first social network in Russia and managed DST’s VC portfolio, in addition to heading Odnoklassniki.
It allows customers to invite an unlimited number of translators, editors and managers to their projects, thus reducing the time needed for their completion.
The company says its computer-assisted translation (CAT) platform prevents the majority of human errors. It uses history, glossaries, intelligent QA checks, and AI algorithms to increase the quality. of the final translation.
More than 1,500 companies, including Weebly, Epicor, Coursera, Adherium, YIT, Netcracker, GSK and over 60,000 translators are using SmartCAT.