Gengo Raises $12 Million In Funding, Led By Intel Capital
Gengo is a company that works with about 7,500 people to translate 33 languages. The company has raised $12 million in funding, led by Intel Capital. Other investors that participated in this round include Iris Capital, NTT-IP, Saudi Telecom Ventures, Atomico, and Infocomm. Atomico is a returning investor.
Gengo previously raised $6.8 million. Of that round, $5.25 million was in the form of Series A led by Atomico and 500 Startups. 500 Startups founder Dave McClure is a board member at Gengo.
You will notice that there are multiple telecommunication companies involved in this round. Gengo CEO Robert Laing said that this “shows how telecoms companies ‘get’ the global opportunity of Gengo,” in an interview with TechCrunch. He also said in a press announcement today that he was excited about Intel Capital’s involvement in the company because of their globe experience and track record.
Around 80% of Gengo’s revenue comes from the U.S. and Japan. The company has around 30 employees in Tokyo and 9 employees in San Mateo. Gengo has already translated more texts in 2013 than they did in 2012. YouTube recently partnered Gengo for translation services, which is a major reason for their growth.
The company plans on using the funding to accelerate their expansion and to improve their translation platform.