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Digital Future & Alexey Vitchenko bought a translation service translate.com for $0,85 mln

Ukrainian VC Digital Future Alexey Vitchenko bought translate.com service, which makes the top 50 of the world’s largest translation services. The amount of the transaction is $0,85 mln

According to the investor, he became interested in this business, due to the fact that the international market of translations and related services is growing by an average of 1.3% per year, while there was a jump of 4.2% in 2018, according to IBISWorld. Another factor was that translate.com is quite a successful business.

Service translate.com has the following features:

  • a large part of orders are not only to European languages but also to the Vietnamese, Indonesian, Japanese, Chinese ones;
  • possibility to work with 90 language pairs;
  • 50+ integrations with various chats/ticket systems/SaaS solutions;
  • machine and human translation;
  • 40,000+ translators and post-editors around the world.

The main objectives of translate.com for the next 5 years are: to increase turnover and income and get close to the main competitors in the world market – Lionbridge, Lingotek.

The service needs investments for these purposes. The money will also be spent on marketing and development.

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