World’s top-ranked translation administration resolution secures new funding, led by international funding agency Carlyle, recruits Edmund Ovington to steer US operations
New York, New York — Memsource, the trade’s highest-ranked translation administration resolution, introduced at this time it secured €15M in fundraising, led by international funding agency, Carlyle (NASDAQ: CG) and its current traders. The funds will probably be used to speed up the corporate’s development via worldwide expertise acquisition, product growth, and international growth initiatives.
This funding announcement comes on the heels of a collection of transformative adjustments for the corporate together with the latest appointment of the CEO Georg Ell and the acquisition of the SaaS platform Phrase, which added a software program localization functionality, in addition to Carlyle’s acquisition of a majority stake in Memsource in 2020.
Memsource additionally introduced at this time the hiring of Edmund Ovington as Normal Supervisor, North America, the place he’ll lead a rising staff, constructing on robust momentum within the area. Ovington brings vital trade and SaaS development expertise, having been a key govt at Unbabel in quite a lot of gross sales and channel management roles, and beforehand led groups at Microsoft, Yammer, Beem and Percolate.
“We’re delighted to obtain the continued backing of our predominant investor, affirmation of our robust efficiency throughout the enterprise and confidence in a sound marketing strategy that balances bold development with sustainable underlying economics. At a time of financial uncertainty, when others are downsizing, we are going to proceed to spend money on our product and other people, with at this time’s announcement that Edmund is becoming a member of us, and extra thrilling information to return this yr.” mentioned Georg Ell, the not too long ago appointed CEO of Memsource. “These funds will probably be used to supercharge innovation, and broaden our footprint on a worldwide stage as we recruit world-class expertise to assist us ship robust product and customer support experiences. We’re in an thrilling trade, with a passionate, worldwide staff – we encourage everybody to go to our careers web page at memsource.com/careers.”
The corporate’s mission is “to open the door to international enterprise by giving all people entry to the content material they want within the language they communicate”. The pursuit of this mission means pushing the boundaries of language expertise via automation and synthetic intelligence to energy prime quality, scalable, and quick localization for groups of any measurement. Memsource helps an unimaginable vary of firms to speed up their international development. These embrace Uber, Zendesk, Shopify, Personio, TravelPerk, OVH, Supercell, Huawei, Vistaprint, Škoda, Bosch, Fujifilm, Volkswagen, Porsche, XING and plenty of different clients worldwide.
About Memsource
Memsource helps international firms translate effectively. Ranked because the main translation administration system on G2, Memsource helps 500+ languages, 50+ file sorts, and 30+ machine translation engines. Memsource allows its clients to extend translation high quality whereas lowering prices utilizing its patented, state-of-the-art AI expertise. Serving 1000’s of worldwide clients, together with main manufacturers equivalent to Uber, Supercell, Vistaprint, and Zendesk.
