Translation Tool DeepL is Now a Unicorn

November 2022

Cologne-based artificial neural network translation system DeepL has cracked the USD one billion valuation mark. That’s according to various media outlets, which cited unnamed sources close to the company.

The firm was founded in 2017 by Jaroslaw Kutylowski, an IT specialist who studied at the universities of Wrocław and Paderborn. DeepL is a self-teaching platform that “learns” from published translation and “teaches” itself to avoid mistakes. The company claims it is six times more accurate than competing systems such as Google Translate. It currently offers 29 different languages.

Venture capital funds IVP, Bessemer and Atomico reportedly took part in the most recent round of funding. A limited version of the system is available for free, while full services can be acquired by subscription.

Jaroslaw Kutylowski, founder and CEO of DeepL © DeepL