Corporates Intel, Recruit, Saudi Telecom, NTT Docomo, Allied Architects, Libertad, Mistubishi UFJ and SBI Group have exited Japan-based online translation service Gengo in an acquisition of undisclosed size by marketing agency Lionbridge
Founded in 2008, Gengo has created an online platform that enables individuals and businesses to order translations from a network of more than 20,000 translators.
In addition to a range of content services such as proofreading, transcription, content creation and copywriting, Gengo also provides artificial intelligence (AI) training-data services from its contributors.
Charly Walther, vice-president of product and growth for Gengo, said: “The demand for machine learning training data and validation services will continue to grow significantly.
“Lionbridge’s linguistic experts, matched with Gengo’s existing crowd and technology platform, will bring a first-choice solution for AI development to this growing market.”
The company had raised a total of $24.4m in funding, including $5.3m in a 2015 series C round led by human resources provider Recruit Holdings.
Chipmaker Intel, telecommunications firm Saudi Telecom and financial services firms Mistubishi UFJ and SBI Group also took part in the round, through subsidiaries Intel Capital, STC Ventures Fund, Mitsubishi UFJ Capital and SBI Investment respectively.
The series C was filled out by digital marketing company Allied Architects, consultancy Libertad and Infocomm Investments, the investment arm of the Singapore government’s Infocomm Development Authority, as well as CrowdWorks and Iris Capital.
Gengo had received $12m in series B funding from Intel Capital, Saudi Telecom Ventures, mobile network operator NTT Docomo, Iris Capital, Infocomm and Atomico in 2013. It also counts 500 Startups, Kapor Capital and Point Nine Capital as earlier investors.