San Francisco- based AI startup Lilt raises US $55 million in Series C

On April 8, 2022, Lilt, a supplier of AI-powered business translation software, announced a $55 million Series C round headed by Four Rivers and supported by new investors Sorenson Capital, CLEAR Ventures, and Wipro Ventures. The funds will then be used to grow the firm’s R&D operations, as well as its customer footprint and engineering teams, according to the company.

Lilt’s Series C investment included existing investors Sequoia Capital, Intel Capital, Redpoint Ventures, and XSeed Capital. It takes the total amount raised by the business to US $92.5 million.

What the founder has to say:

CEO Spence Green said:

 “Lilt aims to design a solution that would mix the finest of human inventiveness with machine efficiency.” “With this increased cash, we’ll be able to lower our unit economics and make translation more accessible to all enterprises. It will also allow us to expand our existing production team in Asia by adding a sales staff. We’ll have sales and production teams in each of the three regions: the United States, Europe, the Middle East, Africa (EMEA), and Asia.

AI and machine learning are assisting in the automation of the enterprise translation process, but you can’t automate everything. That’s why we have a human-in-the-loop method. We’re leaving the creative and emotional aspects of translation to humans while automating the mundane and repetitive parts. This improves our business’s unit economics and allows companies to use translation across all client touchpoints.”

About Lilt:

The company is based in San Francisco, California. Green and John DeNero co-founded Lilt in the year 2015. Green worked in Northrop Grumman as a software engineer who later worked as a Google Translate research intern designing an AI language system to improve English-to-Arabic translations.

Lilt uses several combinations of human translators and tools, such as hotkeys, style guides, and an AI translation engine, to translate marketing, support, and e-commerce documents and webpages, which is the majority of the company’s job. According to Green, the platform supports over 40 languages and includes bespoke term bases and lexicons that display translators a variety of possible translations for a given phrase.

Meanwhile, the aforementioned AI engine analyzes translation data to generate recommendations, and it is continually trained on new data, including comments from Lilts translators.

Translators are paid an hourly rate that is individually negotiated. To cash out, they must earn at least $20 by providing “linguistic services” on the platform, which can involve both review and translation. Lilt automatically tracks hours, calculating only time spent actively translating and analyzing information, not time spent pursuing external research outside of Lilt’s usual work limitations (30 seconds for translation per segment and 50 seconds for review per segment).

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