SALT LAKE CITY -- (BUSINESS WIRE) -- Lingotek (www.lingotek.com) today announced it has completed a round of internal financing. The financing included investments from In-Q-Tel, Canopy Ventures and Flywheel Ventures. This new round of funding positions Lingotek to expand its product development, marketing and sales activities and other general corporate activities.
“We look forward to continued success as we work with investors who share our vision and commitment to enabling greater possibilities with language translations”
“Lingotek has demonstrated that its innovative Community Translation Platform is providing a novel solution to overcoming traditional translation barriers,” said Scott Caruso of Flywheel Ventures. “The list of international corporations and organizations turning to Lingotek is growing and will continue to do so as Fortune 5000 businesses globally expand their markets and revenue.”
The company has recently signed 14 new clients with an integrated software and translation services offering. In addition, Lingotek is accelerating product development to more rapidly take advantage of the growing demand for corporations to leverage their communities to incorporate community translation as an integral part of their global expansion strategy.
“We look forward to continued success as we work with investors who share our vision and commitment to enabling greater possibilities with language translations,” said Rob Vandenberg, president and CEO of Lingotek. “Our Web-based community translation platform exponentially increases the amount of content that can be translated at a fraction of the current cost—this allows companies to access to new markets more quickly and more cost-effectively than ever before.”
This is the fourth round of funding for Lingotek since its inception in 2006. Financial details of the transaction are not disclosed.
Lingotek is the leading global provider of Collaborative Translation Technology. Lingotek enables companies and organizations to harness the power of communities to distribute products and services around the world in each market's localized language. Lingotek's Collaborative Translation Platform brings machine translation, translation memories, terminology management together with a social network to enable the social production of localized content. Lingotek puts you, in business, everywhere. More information is available at www.Lingotek.com.
In-Q-Tel is the strategic, not-for-profit investment firm that works to identify, adapt, and deliver innovative technology solutions to support the mission of the U.S. Intelligence Community. Launched by the CIA in 1999 as a private, independent organization, In-Q-Tel's mission is to identify and partner with companies developing cutting-edge technologies that serve the national security interests of the United States. Working from an evolving strategic blueprint defining the Intelligence Community's critical technology needs, In-Q-Tel engages with entrepreneurs, growth companies, researchers, and investors to deliver technologies that provide superior capabilities for the CIA and the larger Intelligence Community. To learn more about In-Q-Tel, visit www.iqt.org.
About Flywheel Ventures
Flywheel Ventures is a venture capital firm that empowers entrepreneurs to build globally-competitive businesses based on innovations in information technology and the physical sciences. Flywheel typically makes the first institutional investments in companies with origins in the Mountain West region of the United States. The firm matches talented entrepreneurs and market opportunities with Flywheel's capital, entrepreneurial experience, and industry relationships to accelerate innovations into profitable companies. Flywheel is based in Santa Fe and also has offices in Albuquerque and San Francisco. For more information on Flywheel, please visit www.flywheelventures.com.
About Canopy Ventures
Canopy Ventures is an early-stage venture capital firm targeting information technology and life science companies primarily in the state of Utah. Since Canopy's founding in 1995, the firm has invested in more than 100 high-growth companies and made a significant contribution to the Utah marketplace. More information may be found at http://www.canopy.com.
Language is social. It connects people and ideas. But what happens when it stops connecting, slows down, and goes offline? What happens when your global audience is left in the dark because your translations are stuck in someone’s inbox?
With the Translation Network, Lingotek makes your content accessible to your customers globally. By connecting your company with our technology and translators, we connect your ideas with the world. Lingotek makes going global possible.
Cloud Based Translation is Faster, Easier & More Efficient
Lingotek revolutionized the translation industry with its cloud-based networked translation technology. With Lingotek, you get an enterprise-grade, end-to-end solution that you control. Bring your translation workflow into the 21st century and get out from under the old-school, on-premise, traditional IT, and proxy architectures that slow you down and increase your costs with budget-busting implementation processes and ongoing maintenance.
Agile Software That Offers Scalability and Responsive IT
Our next-generation technology continuously delivers multilingual content and scalability to meet your increasing needs for more content, storage, and translation management. Lingotek’s cloud-based technology can extract large amounts of data and scale to any project size on the fly. With our agile software, Lingotek can be more responsive and can match your evolving requirements with fast IT.
Seamless Integration With Your Applications
Seamless integration with your enterprise applications and our translation management system lets you upload source content for translation, have it automatically translated, and download the translated content back into your original application.
Automated Workflows Put Your Translations on Autopilot
Put your translations on autopilot with customizable workflows that let you trigger actions throughout the project lifecycle. From notifying a reviewer when a translation is ready for review, to reporting project status to an external system, the Lingotek rules engine brings AI-like capabilities to your workflow.
Continuous, Real-Time Collaboration for Round-the-Clock Translation
With a vast network of translators working in our powerful cloud-based translation management system, you get continuous, round the clock translation and real-time collaboration.
Centralized File Management Gives You Control Over Your Content
Out-of-the-box integrations with popular CMS, CRM, marketing automation, knowledge bases, and social business software means your information resides in your system, giving you visibility, access, security, and control of your files and information.
Scalable File Storage to Match Your Growth
Our cloud-based Translation Network offers scalability that auto-scales to increased volume levels, without no additional charge for more file storage. It can scale as your usage grows.
Secure Your Information With Controlled Access to Files
Content stored in the Lingotek cloud is fully secured and kept private to your organization. Role-based authorization ensures that users only see information if they have been granted access by your project administrator.
Lingotek offers a wide range of translation solutions to its customers. Whether you are in the enterprise or federal space, or want our world-class translation services team to take care of your localization for you, Lingotek offers corporate and global translation solutions that are custom tailored for your needs.
Lingotek | The Translation Network is a cloud-based translation services provider, offering translation management software and professional linguistic services. We are the leader in collaborative translation technology with an innovative cloud translation management system (TMS) that uses computer-assisted translation (CAT) tools to facilitate faster, more efficient, language translation. Lingotek was the first to introduce cloud-based TMS technology to the United States in 2006 with the launch of a fully online, web-based, computer-assisted translation (CAT) system that pioneered the integration of translation memories (TM) with main-frame powered machine translation (MT). Our multilingual application program interfaces (API) and connectors pair with the industry’s top enterprise applications to automate and integrate the translation process. They include:
Customers can use their own language services providers (LSP) and linguists, or our global network of 5,000+ professional linguists. Lingotek is based in Lehi, Utah in the area known as Silicon Slopes.
Signal Peak Ventures is a Salt Lake-based venture capital firm that focuses on early-stage technology investments in the Intermountain region. The firm was established as Signal Peak in 2011 after the spin out of Canopy Ventures venture capital team and the acquisition of portfolio investments in ten other companies. The Signal Peak team has extensive experience in sourcing, executing, managing, and divesting venture capital stakes across the Intermountain region.
In-Q-Tel is a strategic, not-for-profit investment firm that works to identify, adapt, and deliver innovative technology solutions to support the mission of the U.S. Intelligence Community. Launched by the CIA in 1999 as a private, independent organization, In-Q-Tel's mission is to identify and partner with companies developing cutting-edge technologies that serve the national security interests of the United States. Working from an evolving strategic blueprint defining the Intelligence Community's critical technology needs, In-Q-Tel engages with entrepreneurs, growth companies, researchers, and investors to deliver technologies that provide superior capabilities for the CIA and the larger Intelligence Community.
Lingotek works with some of the largest, most innovative companies in the world, in a wide variety of industries and services including government, technology, finance, telecom, travel, and education. Our clients include departments in the U.S. Government and several large Fortune 500 companies. Here are some of the Customers that are trusting their translation processes with the Lingotek Translation Network.
We also work with a growing network of Partners--service providers, digital agencies, open sources technologies, and other strategically selected companies--to meet the unique translation requirements of our customers.
Comparably Best Company Leadership 2018
Comparably Best Company Managers 2018
Top 100 Companies in the Digital Content Industry - EContent 2017-2018
Comparably Best Company Leadership 2017
Comparably Best Company Culture 2017
Comparably Best Places to Work 2017
Comparable Best CEO - Rob Vandenberg 2017
Utah Business Book of Lists Top Telecom & Technology Software Developers 201
Utah Best in State Language Services 201
Silicon Review List of Inspiring 100 Companies 201
Top 100 Companies in the Digital Content Industry - EContent 201
Top 30 Drupal Contributor 201
Top Translation Services Company 2016 - PFin
Hot in Lehi Award Top Trending Companies - Owle
Top 100 Companies in the Digital Content Industry - EContent 201
Edison Award Finalist 201
CIO Microsoft 100 Solution Providers CIO Review 201
Edison Award Nominee 201
Gartner Cool Vendor of the Year 201
Oracle Gold Partner 201
Stevie Award Best New Product or Service of the Year SaaS Category 201
Most Innovative New Product Utah Valley Entrepreneur Forum 2006
Experience the Benefits of Networked Translation