Lilt raises $55M to bolster its AI translation platform – TechCrunch

Lilt, a provider of AI-powered business translation software, today announced that it raised $55 million in a Series C round led by Four Rivers, joined by new investors Sorenson Capital, CLEAR Ventures and Wipro Ventures. The company says that it plans to use the capital to expand its R&D efforts as well as its customer footprint and engineering teams. "Lilt [aims to] build a solution that [will] combine the best of human ingenuity with machine efficiency," CEO Spence Green told TechCrunch via email. "This new funding will … [reduce our] unit economics [to make] translation more affordable for all businesses. It will also [enable us to add] a sales team to our existing production team in Asia. We are in three regions -- the U.S., Europe, the Middle East and Africa (EMEA) and Asia -- and look to have both sales and production teams in each of these regions."