The Latvian Startup Lokalise has finally announced that the company raises $6million funding led by Mike Chalfen, Nicolas Dessaigne, Andrey Khusid, Matt Robinson, Des Traynor, and others participating. The firm mainly focuses on the transformation and localization of websites, applications games, and more. The company has a translation management system and provide a software-as-a-service product that helps a business improve their workflow and processes when they need to update text in diverse languages in the product.
The $6 Million funding has raised a $6 million funding round that will help the firm to make the localization of the products easier. Most of the time, when it’s come to ship an update, the companies use different methods to transform the text into other languages. The language transformation is a manual procedure that involves sending and incorporating files with extended lists of a text string in diverse languages.
The co-founder and CEO Nick Ustinov said that “As a matter of fact, the most popular tools used in localization processes are still Excel and Google Sheets. Next, come internally-built scripts and tools,” the co-founder said.
The Lokalise offers a software-as-a-service product that is all about speeding up that process. Generally, you can either integrate with GitHub or GitLab to automatically fetch alterations or, you can manually upload your language files. It is easy to browse each sentence in diverse languages from the service. Using the Lokalise interface, the team of translators can efficiently edit text. It is a web-based service and thus remains similar for everybody.
The product offered by Lokalise is specially meant for a small company that doesn’t have a team of translators, and this start-up lets you use Google Translate or a group of skilled translators. It offers businesses with some high built-in spelling and grammar features products to help you mark the most noticeable errors.
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In addition to the above, the CEO Nick Ustinov said that- “Most customers work with internal or external individual translators or language service providers (LSPs) directly,” “The SaaS product generates 90% of our revenue — the revenue breakdown between the SaaS product and the marketplace of translation services is 90%/10%.” Ustinov added further.
The Latvian, Lokalise startup is gaining vast recognition in the marketplace and has now had 1,500 customers, just like Revolut, Virgin Mobile, Yelp, and Notion. It at present generates $4 million in yearly recurring profits.
In a nutshell, we can say that the Lokalise Startup is solving a very particular need. Without a doubt, if you ship frequently and you have customers all across the world, then it could help you speed up the procedure up to an extent.
