Unbabel secures US$ 60 million investment

 In News

Machine assisted translation company Unbabel is well on the way to achieving unicorn status after netting US$ 60 million of investment.

The Portuguese startup’s founder Vasco Pedro said he expected the company to achieve unicorn status within the next two to three years.
Unbabel, which links artificial intelligence with automatic translation and human post-editing, closed a Series C investment round (a round for companies that are growing exponentially) worth US$ 60 million (€54 million).
It is the Portuguese startup that has attracted the most money in this series round – Farfetch got US$ 20 million in 2013 and Feedzai got US$ 50 million in 2017.
The financing round was led by US venture capital firm Point72 Ventures which was joined by the US companies e.ventures and Greycroft and the Portuguese VC capital company Indico Capital Partners.
Unbabel CEO Vasco Pedro told the press that there would be: “Rounds D and E” and that now the focus was “not on sustainability but on growth.”
Other investors involved in the round that have already invested in the past in the company include Scale Venture Partners, Notion Capital, M12 (Microsoft), Samsung NEXT, Caixa Capital, Faber Ventures, FundersClub and Structure Capital.
In the summer the company announced it would open an office in San Francisco to be closer to its clients such as Facebook and Microsoft.