EasyTranslate has closed a € 2.75M funding round with the Dutch investor Pride Capital Partners. The funding adds financial muscle to an ambitious launch of an AI-generative content feature to their translation and content software. EasyTranslate and Pride Capital Partners will collaborate to build on the leading European platform for localization software.
Danish company EasyTranslate, founded in 2010, has received € 2.75M investment from the Dutch Software & IT investor Pride Capital Partners. The funding coincides with the launch of an innovative integration of OpenAI that provides automated content and translation services. The new funds create room for further development of the new functionality and adds to the ambition of accelerating EasyTranslate’s organic growth. In addition, this strategic partnership enables EasyTranslate to grow its market share by realizing strategic acquisitions.
'We are excited to have attracted an experienced investor like Pride Capital Partners, who has a proven history of driving growth of international Software & IT companies. This investment will allow us to invest more in our software solution and ChatGPT integrations, enabling us to create even more advanced solutions for automating content flows and translations for companies. All with the aim of improving customer experience. With Pride Capital Partners, we have found a strategic partner that believes in our plan, which we can continue to execute collaboratively', says Frederik Riskær Pedersen, founder and CEO of EasyTranslate.
EasyTranslate, founded in 2010, offers a marketplace of freelance translators, soon also copywriters, and combines it with translation management software. With this set-up, the company can ultimately service its customers with a hybrid solution of scalable and user-friendly translation management software and fast delivery of high-quality translation services. The best of both worlds. EasyTranslate has experienced strong growth in the last year with their new software solution, which has resulted in the ARR increasing by almost 250 % YoY. Today EasyTranslate supports customers in more than 20 countries across 3 continents and provides work for more than 600 freelance translators every month.
With over 20 years of experience in the Software and IT industry, Pride Capital Partners aims to guide Software and IT companies in the Benelux, DACH-region & Nordics through their next phase of growth by providing flexible capital solutions and strategic advice. In this way, Pride Capital Partners empowers entrepreneurs to realize their growth ambitions. The headquarters of Pride Capital Partners is based in Amsterdam but they will open their Nordic office in Copenhagen in July 2023. Next to Pride Capital Partners, current shareholders also invest additional capital into the company.
'EasyTranslate has successfully started its transition from being a translation services to a software company. This transition enhanced the scalability of the company. We look forward to further assisting management in growing as a software company. The strong product, impressive management team, international client base and client-centric approach of EasyTranslate make that the company is well positioned for the next growth phase. We are excited that EasyTranslate marks our first investment in the Nordics', says Lars van ‘t Hoenderdaal, Managing Partner Pride Capital Partners.