Phrase Secures €12 Million in Funding

by Kay Aloha Villamor in July 20th, 2023

Phrase, a Prague, Czech Republic-based cloud-based localization software provider, secured a debt funding facility of €12 million from CIBC Innovation Banking.

The funds will be used to further develop the next generation of AI-driven language technology.

Launched in 2010 to provide translation and localization technology to global businesses, Phrase has developed a unique platform that enables companies to connect, manage and automate every task involved in translating and localizing content or software across an organization in a centralized hub.

The system provides workflows and automation to manage projects with language service vendors and internal linguistic resources and harnesses the latest in machine translation depending on the sensitivity of the work.

Georg Ell, Phrase CEO, said: “CIBC Innovation Banking’s financing will help us take our localization technology to the next level as the latest innovations in AI and machine learning continue to take off. Our business has seen tremendous growth as we’ve delivered on supporting our global clients at scale via the ease of use and connectivity our platform provides, and this investment will allow us to capitalise on the high-growth AI market.”

Phrase has more than 300 employees and over 4,500 customers across Europe, Asia-Pacific, and North America.

Company: Phrase GmbH

Raised: €12.0M

Round: Debt Funding

Funding Month: July 2023

Lead Investors: CIBC Innovation Banking

Additional Investors:

Company Website:

Software Category: Localization Software

About the Company: Phrase provides cloud-based localization solutions that enable organizations of all sizes to open the door to global business through advanced automation and a broad variety of integrations. The Phrase Localization Suite is equipped with the leading translation management system, a specialized platform for software and digital products, and it supports 500+ languages, 50+ file types, 30+ machine translation engines, and 50+ integrations. The enterprise-grade suite enables users to drive growth with a connected ecosystem of tools. 


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