Funding round
DeepL Series B
DeepL, which works in AI-Powered language solutions development in Cologne, raised $300M in a Series B round announced on 22 May 2024, led by Index Ventures, at a $2.00B post-money valuation. 6 firms took part, 4 of them already investors. It is DeepL's third venture round on record; the one before was a Growth in Jan 2023.
$300M
Amount raised
$2.00B
Post-money valuation
6
Investors
1 lead
1.9x
Step-up from the Growth
$1.07B in Jan 2023
15%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced DeepL at $2.00B after the new money, 1.9 times the $1.07B of its Growth (Jan 2023). The $300M bought investors about 15% of the company. It came 16 months after DeepL's Growth. It is 71% of the $422M DeepL has raised in the venture rounds on record. No later venture round is on record for DeepL.
DeepL's funding rounds
DeepL has 3 venture rounds on record. This one is highlighted.
Investors
Who put money in
Index Ventures led the round with 5 other firms. Index Ventures, Institutional Venture Partners, Atomico and WiL had backed DeepL before.
Lead investor
- Index Ventures backs 353 venture-backed companies existing investor
Also in the round
- ICONIQ Growth new investor
- Teachers’ Venture Growth new investor
- Institutional Venture Partners backs 109 venture-backed companies existing investor
- Atomico backs 123 venture-backed companies existing investor
- WiL existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development and geographic expansion.
- Product development
- Geographic expansion
Comparable rounds
How it compares
579 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 10 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 20 May 2024 | $78M | $400M | BOND |
| Tech Companies | 7 May 2024 | $51M | not disclosed | TGVest Capital |
| Tech Companies | 7 May 2024 | $50M | not disclosed | Khosla Ventures |
| Tech Companies | 29 May 2024 | $45M | $97M | Mitsubishi Electric |
| Tech Companies | 28 May 2024 | $40M | not disclosed | StepStone Group |
| Tech Companies | 15 May 2024 | $38M | not disclosed | Wellington Management |
| Tech Companies | 30 May 2024 | $37M | not disclosed | UBS Next and CommerzVentures |
| Tech Companies | 8 May 2024 | $35M | not disclosed | Ten Coves Capital and Ankona Capital |
Sources
Where this comes from
Reported by 9 sources.
Questions
Frequently asked
How much did DeepL raise in its Series B round?
DeepL raised $300M in its Series B round, announced in May 2024.
Who led DeepL's Series B round?
Index Ventures led it, with ICONIQ Growth, Teachers’ Venture Growth, Institutional Venture Partners, Atomico and WiL.
What was DeepL's valuation at the Series B round?
$2.00B post-money.
How does it compare with other Series B rounds in Tech Companies?
579 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 10 times the median.