Serving over 100,000 business customers in
200+ markets, DeepL recognized for industry-leading AI translation
and writing software
SAN
FRANCISCO, Aug. 6, 2024 /PRNewswire/ -- DeepL, a
leading global Language AI company, has been named to the Forbes
2024 Cloud 100, the definitive ranking of the top 100 private cloud
companies in the world, published by Forbes in partnership with
Bessemer Venture Partners and Salesforce Ventures.
"At DeepL, we're on a mission to break down language barriers so
that every company can operate seamlessly on a global scale with
AI," said Jarek Kutylowski, CEO
and Founder, DeepL. "Being named to the Forbes Cloud 100 list
for two years in a row is a testament to DeepL's steadfast
commitment to research and innovation in the Language AI space,
which has cemented our position as a leader in the industry and
ensures our products remain at the forefront of accuracy, security
and advancement. It also affirms the significant – and proven –
impact that the DeepL platform is having on the way businesses
around the world operate and grow."
With a rapidly-growing customer network of over 100,000
businesses and governments around the world, including 50% of the
Fortune 500 and industry leaders like Zendesk, Nikkei, Coursera,
and Deutsche Bahn, DeepL has become the preferred Language AI
platform for businesses worldwide. DeepL offers cutting-edge
translation and writing solutions through its specialized Language
AI platform, which has become a critical investment for
international business growth, addressing communication challenges
across numerous applications from internal operations to customer
support.
Unlike general-purpose AI systems, DeepL's software is powered
by 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.
This accolade is the latest milestone during a period of
significant growth and momentum for DeepL. Just last month, the
company unveiled its next-generation large language model (LLM),
which outperforms GPT-4, Google, and Microsoft for translation
quality, setting a new standard for accuracy and performance. DeepL
also recently unveiled DeepL for Enterprise, a solution tailored to
address the evolving needs of businesses seeking to integrate AI
solutions, and raised $300M of new
investment at a $2B valuation in
May, led by renowned late-stage investment firm Index Ventures.
For the ninth consecutive year, the Cloud 100 reviews
submissions from hundreds of cloud startups and private companies
each year. The Cloud 100 evaluation process involved ranking
companies across four factors: market leadership (35%), estimated
valuation (30%), operating metrics (20%), and people & culture
(15%). For market leadership, the Cloud 100 enlists the help
of a judging panel of public cloud company CEOs who assist in
evaluating and ranking their private company peers.
"For nine years, the Forbes Cloud 100 list has recognized the
leading private cloud companies in the world, from AI to work
software, infrastructure to security," said Alex Konrad, the Forbes editor of the Cloud
100. "This year's list is the strongest group of standouts yet,
with revenue, valuations and growth that will eventually make for
historic IPOs."
"Across nine years of data, we have yet to see as competitive of
a cohort as the 2024 Cloud 100. The list value reached $820 billion this year, the highest list value in
Cloud 100 history," said Mary D'Onofrio, partner at Bessemer
Venture Partners. "Unsurprisingly, AI is now the highest valued
category. We continue to be excited by how AI companies are scaling
rapidly, transforming the cloud, and propelling the next wave of
growth, driving a massive year-over-year jump in market cap of over
$150 billion.
"The past year, our industry has seen a generational step
forward in innovation, and with AI leading the charge, we are
witnessing one of the most important platform shifts in decades,"
said Paul Drews, managing partner
at Salesforce Ventures. "The Cloud 100 list represents the best
of the best, and we've never been more excited about what the
future holds, not only for the cloud but for the entire technology
industry. We are proud of what these founders and their communities
have already accomplished, and look forward to seeing how they
continue to transform the industry in the future."
The Forbes 2024 Cloud 100 and 20 Rising Stars lists are
published online at www.forbes.com/cloud100. Highlights of the
list appear in the August/September
2024 issue of Forbes magazine.
This year, the CEOs of The Cloud 100 and the 20 Rising Stars
companies will be honored with a digital content launch, as well as
at the exclusive Cloud 100 Celebration hosted by Bessemer Venture
Partners, Salesforce Ventures, and Forbes. A special thank you
to the event sponsors, including Amazon Web Services (AWS), Bank of
America, Cooley, Deloitte, Goldman Sachs, HSBC, J.P. Morgan, Morgan
Stanley, and Nasdaq.
About DeepL
DeepL is on a mission to break down
language barriers for businesses everywhere. Over 100,000
businesses and governments and millions of individuals in 228
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.
About Bessemer Venture Partners
Bessemer Venture
Partners helps entrepreneurs lay strong foundations to build and
forge long-standing companies. With more than 145 IPOs and 300
portfolio companies in the enterprise, consumer and healthcare
spaces, Bessemer supports founders and CEOs from their early days
through every stage of growth. Bessemer's global portfolio has
included Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty,
DocuSign, Wix, Fiverr, and Toast and has more than $18 billion of assets under management. Bessemer
has teams of investors and partners located in Tel Aviv, Silicon Valley, San Francisco, New
York, London, Hong Kong, Boston, and Bangalore. Born from innovations in steel more
than a century ago, Bessemer's storied history has afforded its
partners the opportunity to celebrate and scrutinize its best
investment decisions (see Memos) and also learn from its mistakes
(see Anti-Portfolio).
About Forbes
Forbes champions success by celebrating
those who have made it, and those who aspire to make it. Forbes
convenes and curates the most influential leaders and entrepreneurs
who are driving change, transforming business and making a
significant impact on the world. The Forbes brand today reaches
more than 140 million people worldwide through its trusted
journalism, signature LIVE and Forbes Virtual events, custom
marketing programs and 43 licensed local editions in 69 countries.
Forbes Media's brand extensions include real estate, education and
financial services license agreements.
About Salesforce Ventures
Salesforce Ventures helps
enterprising founders build companies that reinvent the way the
world works. For over 15 years, we've invested in and partnered
with more than 400 of the world's most tenacious enterprise
software companies from seed to IPO, including Airtable,
Databricks, DocuSign, Guild Education, Hopin, monday.com, nCino,
Snowflake, Snyk, Stripe, Tanium, and Zoom.We leverage our decades
of expertise in the cloud and our long-term relationships with key
decision-makers at thousands of businesses around the world to give
our portfolio companies an unfair advantage, help them build
credibility, and accelerate growth. Salesforce Ventures has a
$5BN portfolio of 300+ companies in
more than 25 countries, and has offices worldwide, including in
San Francisco, Irvine, New
York, London, Tokyo, and Sydney.Follow @SalesforceVC and
learn more at http://www.salesforceventures.com.
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SOURCE DeepL