Unbabel Raises $5 Million to Bring Artificial Intelligence to Global Translation Market

This brings the three-year-old company's total funding to over $8 million. The company will use the funds to build out the "Unbabel Language Engine" – its proprietary technology platform that combines Natural Language Processing, artificial intelligence, quality estimation algorithms, and a global network of 40,000 human post-editors. This will enable cost-effective, quality translations for conversational content in emails and chat on a global scale. "With a $38 billion market in translation services, it's clear that the expense is huge for any company looking to do business in a multilingual world. However, this market is comprised of an incredibly long tail of high-cost, low-tech, and massively inefficient solutions where the business model is basically'throw more humans at it,'" explained Vasco Pedro, Co-Founder and CEO of Unbabel.