The Técnico spin-off Unbabel, announced this Tuesday, 24th September, a $60m Series C Funding Round, corresponding to around €54.56 million. The Point72 Ventures fund led the investment round which also included investors from e.ventures, Greycroft and the Portuguese Indico Capital Partners. Current investors from the Portuguese startup such as Scale Venture Partners, Notion Capital, M12 (Microsoft venture capital fund), Samsung NEXT, Caixa Capital, Faber Ventures, FundersClub and Structure Capital also participated in this round by building confidence in Unbabel.
This is the biggest Series C investment round captured by a Portuguese startup – nearly the triple of $ 23 million (about €21 million) achieved in the previous round, in 2018. In total, the company founded by Vasco Pedro has already raised $ 91 million. The additional capital will be used to accelerate global expansion and to further strengthen Unbabel AI capabilities.
“We are now translating over 1,000,000 customer service messages a month. That’s over five times the volume we saw in 2018, which underscores the global demand for agile multilingual customer service,” says Vasco Pedro.