Lokalise, a Riga, Latvia-based fastest-growing language-tech B2B SaaS company, announced a $50 million in Series B funding to streamline localization and translation.

The round was led by CRV, with participation from Creandum, Dawn Capital, Chalfen Ventures, and 3VC, among others. 

Company: Lokalise

Raised: $50.0M

Round: Series B

Funding Month: December 2021

Lead Investors: CRV

Additional Investors: Creandum, Dawn Capital, Chalfen Ventures and 3VC

Company Website: https://lokalise.com/

Software Category: Localization management platform

About the Company: Founded in 2017, Lokalise aims to offer companies a quick and easy way of managing and automating their localization efforts, anything from translating one-word instructions on a website into dozens of languages to much more complex tasks. It has more than 2,500 customers across 80 countries, including major players like Revolut, Monday, and BASF. Since its last funding round, in September 2020, the company has more than tripled its annual recurring revenue, and is now targeting further growth and accelerated hiring and product development.

Source: https://sifted.eu/articles/latvia-lokalise-raises-50m/