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Source: cision | Published on: Wednesday, 11 October 2023
SAN FRANCISCO, Oct. 11, 2023 -- Intento, a leading machine translation and multilingual generative AI platform for global enterprises, announced an $8 million Series A funding round today. Led by Somersault Ventures, with additional participation from I2BF Global Ventures, Flint Capital, Scorpio Capital, Courtyard Ventures, Davidovs Venture Capital, and existing investors, the funding will be used to scale company operations amid significant growth, expand sales and marketing efforts, and introduce a new version of the Intento platform.
Meeting Marketing Demand Through Innovation
Intento is experiencing a two-fold growth in deal velocity in 2023, reflecting an expanding market appetite for its Enterprise Language Hub, which offers a seamless, customized language experience in over 650 languages.
"For the past five years, we've built our Enterprise Language Hub into a top choice for over 40 major enterprises. They rely on Intento for real-time translation of critical content, a feat made possible by our integration with over 40 Machine Translation platforms and early adoption of large language models like BERT and GPT. Our performance has surged with advancements in large language models in early 2023," said Konstantin Savenkov, Intento's co-founder and CEO. "Besides translation, we've found that our platform significantly improves Generative AI for non-English content, a key asset for our globally diverse clients. This investment will let us expand our tech and scale operations to meet rising demand."
"Translation services and technologies is a crowded space for investors, and at Somersault Ventures, we love how the Intento team is building a truly unique product with a forward-looking approach to address what large enterprises need, giving them full control and easy deployment of machine translation and unparalleled ROI. We are also excited to see great synergies of the Intento platform with LLMs both in translation workflows and providing similar orchestration solutions for many other emerging applications," said Alex Turbanov, Partner at Somersault Ventures.
Revolutionizing Language Solutions for Global Enterprises
Intento's mission is to empower enterprise leaders to excel in providing best-in-class language experience for both customers and teammates. The company already serves over 40 global organizations, such as Agilent, Subway, Procore, Playrix, and the Government of Canada.
Intento's Enterprise Language Hub allows these global teams to:
A Leap Forward in Generative AI and Translation
The upcoming new version of the Intento platform will integrate generative AI natively into existing automatic translation workflows. This enhancement is expected to deliver up to a 90% improvement in translation quality, making it a game-changer in multilingual content accuracy.
For generative AI tasks, Intento multilingual orchestration yields an up to 40% increase in quality while reducing cost and processing time by up to 20-fold for non-English content. The new version of Intento Language Hub with a newly developed GenAI Portal will facilitate the integration of multiple generative AI models with machine translation in multilingual workflows across various software systems used by clients.
About Intento
Founded in 2016, Intento empowers enterprise leaders to excel in providing the best language experience to their customers and teammates using its advanced machine translation and multilingual generative AI technologies, in over 650 languages.
Intento Language Hub is ISO-27001 certified and integrates with existing software platforms, such as Salesforce, ServiceNow, and Translation Management Systems, to share MT/AI models across the enterprise and improve them based on feedback.
For more information, visit https://inten.to.
Media Contact:
media@inten.to
View original content:https://www.prnewswire.co.uk/news-releases/intento-secures-8m-in-series-a-funding-to-accelerate-growth-and-enhance-multilingual-genai-capabilities-301954151.html
