Lokalise, a Latvian localization and translation management platform, secures $50M in Series B

Lokalise, a platform for continuous localization and translation, has raised $50 million in Series B funding led by the venture capital firm CRV. Creandum, Dawn Capital, as well as existing investors including Chalfen VC, 3VC, S16VC, and several business angels also participated, Invest in Latvia reports.

• Lokalise was founded in 2017 by Nick Ustinov and Petr Antropov from Latvia. It is based in Dover, United States.
• It is a fully-remote startup that develops cloud-based software for streamlining the translation and localization processes. Lokalise helps improve the collaboration among developers, designers, translators, and project managers.
• Lokalise has raised a total of $56 million in funding over three rounds. The last one was in September 2020 and amounted to $6 million, Crunchbase reports.
• Now, Lokalise has 2,500 customers, including BASF, Revolut, Monday.com, and Arduino, enjoying their localization support.
• CRV, a venture capital firm investing in early-stage tech companies, led the funding. According to Crunchbase, CRV has backed nearly 400 startups since its inception in 1970, including large companies like Twitter, Zendesk, and Amgen.

“This new funding makes it possible for us to help more businesses understand, and act on, the need to make their products multilingual from day one,”

Co-Founder and CRO of Lokalise Petr Antropov comments the round.

• The new funding will further accelerate hiring, product development, and partnerships.