CMU spin-out Safaba raises undisclosed amount in private equity backing for machine translation technology.
An IT spin-out of Carnegie Mellon University (CMU), Safaba, has closed a funding round to support the development of its machine translation technology.
US-based investor Newlin Investment Company led the round, and was joined in participation by early-stage investor Innovation Works. The size of the round was not disclosed.
Safaba, based in Pittsburgh, is developing technology which will allow global enterprises to automate the translation of their digital content, including websites, marketing materials, software products, and more.
Alon Lavie, chief executive at Safaba, said: “Enterprise Machine Translation (EMT) is an important part of companies’ globalization strategy and can have a direct impact on an organization’s ability to realize global growth potential, increase profitability and reduce operational costs. It enables greater brand awareness by dramatically increasing availability and visibility of a company’s marketing message in global markets, accelerates product readiness by reducing time-consuming translation cycles and allows companies to provide better and more efficient customer care using both assisted and non-assisted online channels.”