MotaWord raises $500K from Strategic Partner in France
Published on June 19, 2017
By Oytun Tez
MotaWord, the world’s fastest business translation platform, raised $500K from a strategic partner in France at $10M valuation. The company will be hiring business development professionals in Europe with this recent round of financing.
The NYC-based company won the prestigious French Tech Ticket (FTT) program and, through the FTT program’s monetary award and the incubation assistance, was able to have a presence in Europe with a base in France.
During the first 6 months of the FTT program, MotaWord on-boarded prestigious European clients to its translation platform and attracted local investment through a strategic partner who will help with business development efforts for the company’s growth in Europe. The new investment was first announced by MotaWord Founder & CEO Evren Ay, in an open letter to the newly elected French President Emmanuel Macron.
MotaWord efficiently combines the efforts of over 12,000 linguists from around the globe through a proprietary process that allows them to work on translation projects simultaneously. The translation efforts of the carefully-selected, professional translators of MotaWord are coordinated in real-time by an artificial intelligence system. The AI system eliminates the need for project and quality management and increases translator productivity by eliminating tasks like counting words and invoicing clients. This new process and the use of AI instead of human project managers allow MotaWord to provide translation services in over 80 languages, 20x faster and 60% cheaper than traditional translation agencies--while leveraging the time and skills of the translators more conscientiously.
MotaWord clients monitor their projects’ progress and quality in real time, use their translation memories seamlessly and communicate with MotaWord’s vast translator base in real-time to submit their translation preferences. The system works seamlessly and efficiently, eliminating the need for costly translation management systems.
“The most important part of MotaWord’s success is our commitment to our global base of professional translators”, says MotaWord’s Chief Growth Officer Jennah Kriebel. “From the get-go, MotaWord was conceived as a multi-sided platform. It is our commitment to our thousands of translators--to simplify their access to translation projects and to get them paid within 15 days that truly sets us apart.”
MotaWord will use its latest round of funding to actively expand its client and translator based in Europe and to develop new tools to better serve users of its platform. Currently hiring sales representatives in all European cities, MotaWord aims to expand quickly and become the leading enterprise solution in the language services market, in Europe and worldwide.