Language I/O Secures Series A Round for a 2021 Total Fundraise of $12.1 Million
Language I/O (LIO), a leader in multilingual customer engagement, today announced it has raised a $6.5 million Series A round of funding, bringing the total amount of funding raised to date to $12.1 million, which includes the company's Seed round completed in March of last year. Gaurav Tewari of Silicon Valley-based Omega Venture Partners is the largest institutional investor in this Series A financing, investing alongside Bob Davoli of Gutbrain Ventures and Bruce Clarke of PBJ Capital. Other participating investors include Golden Seeds, Michael Wilens, Tom Axbey, James Pallotta, and Eric Schnadig. This Series A round also included a new investor, Caruso Ventures headquartered in Boulder, Colorado.
"Language I/O is poised to disrupt the $50B global language services market," said Gaurav Tewari, Managing Director at Omega Venture Partners. "The company has impressed us with its pragmatic approach focused on solving real customer pain points, and has demonstrated exceptional capital efficiency in building its business. We are excited to partner with Language I/O as they scale to the next level."
In order to succeed, global businesses must give customers in all countries a personalized, local experience regardless of the customer's native language. Language I/O's constantly improving AI-enabled language translation platform allows its customers to provide real-time customer support in more than 100 languages, ensuring that company-specific terms are accurately translated through its proprietary core technology. Language I/O's software is currently focused on translation across all e-support channels including email, articles, chat and social messaging among others. The company is now poised to extend its unique, conversational, B2B translation technology beyond customer support.
Unique benefits of Language I/O's machine translation optimizer are highlighted below.
Accuracy – Language I/O's AI-powered solution identifies the best neural machine translation (NMT) engine for each language the customer chooses to translate. Then it layers proprietary technology over those engines to ensure that messy user-generated content (UGC) such as acronyms, misspellings and jargon are accurately translated every time.
Customization – Language I/O also layers company and industry-specific terms over the NMT ensuring that its customers' industry and company specific terms, such as product names, are always correctly translated.
Security — Language I/O takes security seriously and encrypts all Personally Identifiable Information (PII) immediately and throughout the platform, and is GDPR compliant and ISO 27001 certified.
Speed – Language I/O's software solution seamlessly integrates into three of the largest customer relationship management systems (CRMs) - Salesforce Service Cloud, Oracle Service Cloud and Zendesk; and is also available via API. The onboarding process is fast and efficient. Organizations can be up and running in less than 24 hours. This is rare in the industry as other provider's installation requires weeks, if not months, to get up and running with accurate translations.
Dipen Shah, Director of Technical Support at BlueJeans by Verizon, has been using Language I/O's multilingual customer engagement since July 2020. "I'm absolutely thrilled with the quality of the translations. I would say so far in my tenure here as global tier 1 support, I haven't received a single escalation regarding the quality of the translation or the content," Shah said during a recent webinar. "The customer support from LIO has been phenomenal. And what I also like about them is that our account manager has always been very proactive in telling us what other languages customers are using. I think it really gives an edge when it comes to proactive support."
For more information about Language I/O, please visit: https://languageio.com/.
About LIO LIO enables Fortune 500 companies to communicate with customers anywhere through proprietary machine learning technology, which enables real-time, company-specific translation. The AI technology enables LIO to quickly generate accurate, company-specific translations of all user-generated content (UGC) including jargon, slang, abbreviations and misspellings into over 100 languages via chat, email, article and social support channels.
LIO is accessible directly via API and seamlessly integrates with all major CRMs, including Salesforce, Oracle and Zendesk. The company was co-founded by two female entrepreneurs who bootstrapped the company, wrote the original code and obtained large enterprise customers such as Constant Contact, Shutterstock, and CBS Interactive. SOURCE Language I/O