September 10, 2024: Smartcat Raises $43M for AI Translation Platform - Smartcat, a Boston-based AI translation platform provider, secured $43 million in a Series C funding round led by Left Lane Capital. Founded in 2016 by Ivan Smolnikov, Smartcat offers automated translation services in around 280 languages, targeting enterprise clients and government entities. The platform allows AI, human translation, or a hybrid approach, with a network of translators for review. The fresh funding will support team expansion, product development, and marketing. Despite competition, Smartcat aims to revolutionize traditional translation agency models and capitalize on the growing AI translation market.
