Language I/O (LIO), a Cheyenne, Wyo.-based multilingual customer support provider, raised $8 million in a Series A1 funding round led by Joint Effects, a Venture Capital firm based in Boston, MA.
The Wyoming Business Council's Wyoming Venture Capital (WYVC) Fund, a state-backed investment fund, was the largest investor in the round. Other key participants included Gutbrain Ventures, PBJ Capital, and Omega Venture Partners.
The investment will be used to expand LIO's machine learning (ML) team and platform. The company plans to integrate generative AI to enhance real-time translation quality and develop language-specific, LLM-powered chatbots.
"The recent AI boom has driven groundbreaking innovation, and this funding will allow us to harness the trusted power of generative AI to further develop our platform and provide enterprises with superior translation capabilities," said Heather Shoemaker, founder and CEO at Language I/O. "As we continue to use this technology to innovate, LIO is dedicated to upholding data security standards by protecting customers' privacy and limiting data collection and storage. Our ability to raise significant VC funding during tough market conditions is a testament to the strength and value of our technology."
LIO utilizes machine learning and generative AI to improve the accuracy and efficiency of its real-time translation platform for businesses. Their goal is to eliminate language barriers in internal and external business communications, facilitating smooth global interaction and allowing companies to provide exceptional customer experiences across diverse markets.
Company: Language IO, Inc.
Raised: $8.0M
Round: Series A1
Funding Month: August 2023
Lead Investors: Joint Effects
Additional Investors: Wyoming Business Council's Wyoming Venture Capital (WYVC) Fund, Gutbrain Ventures, PBJ Capital, and Omega Venture Partners
Company Website: https://languageio.com/
Software Category: Multilingual Customer Support Software
About the Company: Language I/O provides software that enables your monolingual customer support team to chat, email and provide self-service support in over 100 languages in real time. The company’s suite of personalized, multilingual customer support products allows support teams worldwide to communicate with customers in any language. LIO's real-time, business-accurate translation technology empowers Fortune 500 companies to communicate internally and externally in any language. By plugging directly into existing tools such as Salesforce, Zendesk, ServiceNow, and Microsoft Teams, LIO quickly generates accurate, brand-specific translations of user-generated content such as jargon, slang, abbreviations, and misspellings. Its zero-trace and AI-enabled platform enables seamless multilingual communication over live chat, email, chatbots, social messaging, and more.
Source: https://www.prnewswire.com/news-releases/language-io-announces-8m-series-a1-funding-to-boost-genai-capabilities-for-translation-services-301892090.html