Smartling, a US-based, cloud-based enterprise translation software company, raised $24m series C funding led by new investor, venture capital firm Tenaya Capital, and including new investor, venture capital firm Harmony Partners; all prior investors participated, including IDG Ventures, an investment network whose limited partners include IT media company International Data Group, and venture capital firms Venrock, U.S. Venture Partners, First Round Capital, and Felicis Ventures participated in this round.
Smartling will use the funding to accelerate growth, invest in the development and delivery of new products and services, and expand global operations.
Ben Boyer, managing director, Tenaya Capital, who joins Smartling’s Board of Directors, said: “The enormous language services sector is ripe for disruption, as enterprises recognize that technology is essential to providing their global customers with content in their native languages. Smartling’s software is a catalyst for this change, and we’re excited to be part of this transformation.”
Jack Welde, founder and chief executive officer, Smartling, said: “Smartling is the only significant SaaS company in a space traditionally dominated by service agencies and decades-old, on-prem software. Our SaaS financial metrics are exemplary, consistent with fastest growing software-as-a-service companies.”