US-based translation services provider Smartling has raised $25m in a series D round led by Iconiq Capital, with participation from IDG Ventures, a private equity fund backed by media and publishing company International Data Group.
First Round Capital, Harmony Partners, Tenaya Capital, U.S. Venture Partners and Venrock also featured, and all participants in the round participated as returning investors. The company plans use the funds to expand by hiring 50 new employees.
Founded in 2009, Smartling provides cloud assisted translation services for multinational firms. Its roster of clients includes Nokia, Sony and Tesla Motors.
Smartling has now raised $63.1m, and IDG Ventures took part in both its $10m series B round in July 2011 and its $24m series C in October 2013.
Venrock partner David Pakman said: “Smartling is solving a huge business problem in an elegant way with an innovative SaaS [Software as a Service] solution – this is why the company has attracted such intense interest from the venture community.”