🏆 Deal of the Week · CW 21/2024
DeepL raised USD 300 million in a Venture – Series Unknown round at a valuation of USD 1.7 billion. The round was backed by a syndicate of six institutional investors including Index Ventures and ICONIQ Growth. This deal was recognised as Deal of the Week for KW 21/2024.
DeepL — key deal facts
| Company | DeepL |
| Founded | 2017 |
| Headquarters | Cologne, Germany |
| Amount raised | USD 300M |
| Valuation | USD 1.7B |
| Round | Venture – Series Unknown |
| Investors | Index Ventures, WiL (World Innovation Lab), Teachers' Venture Growth, IVP, ICONIQ Growth, Atomico |
| Sectors | Artificial Intelligence (AI) |
Who invested in DeepL?
The round was backed by Index Ventures, WiL (World Innovation Lab), Teachers' Venture Growth, IVP, ICONIQ Growth, and Atomico. The investor mix is notable for combining transatlantic growth equity specialists — IVP and ICONIQ Growth — with European technology-focused funds Atomico and Index Ventures, alongside strategic capital from WiL, which bridges the US and Japanese technology ecosystems. The participation of Teachers' Venture Growth, the innovation arm of the Ontario Teachers' Pension Plan, signals institutional confidence in DeepL's long-term enterprise growth trajectory.
What does DeepL do?
DeepL is a German AI company founded in 2017 by Jarosław Kutylowski and headquartered in Cologne, Germany. The company operates a unified Language AI platform designed to remove language barriers for enterprises and individuals. Its core product suite includes DeepL Translator for high-fidelity text translation, DeepL Write for AI-assisted writing in English, DeepL Voice for real-time spoken language translation, and DeepL Agent, an autonomous workflow planning tool. DeepL's neural translation engine is widely regarded as producing more natural output than comparable machine translation services.
DeepL valuation & multiples
No existing multiples analysis was provided for this deal. Once revenue figures become available, standard EV/Sales and EV/EBITDA benchmarks for AI software peers can be applied to contextualise the USD 1.7 billion valuation. Explore Venionaire DealMatrix's Artificial Intelligence sector multiples pages for the latest comparable transaction ranges.
Frequently asked questions
How much did DeepL raise in its Venture – Series Unknown?
DeepL raised USD 300 million in a Venture – Series Unknown round, announced in KW 21/2024.
What is DeepL's valuation?
DeepL was valued at USD 1.7 billion in connection with this funding round.
Who invested in DeepL?
The round was backed by Index Ventures, WiL (World Innovation Lab), Teachers' Venture Growth, IVP, ICONIQ Growth, and Atomico.
When was DeepL founded and where is it based?
DeepL was founded in 2017 and is headquartered in Cologne, Germany.
Source: original announcement — read the full report.