Berlin – A YPOG team co-led by Benjamin Ullrich and Tobias Lovett advised venture capital investor Atomico on the latest financing round of AI-based language translator DeepL. In addition to Atomico’s investment, the round was backed by IVP, Bessemer Venture Partners, and WiL as well as existing investors Benchmark and btov.
The Cologne-based startup emerged from the online dictionary Linguee in 2017 and is currently offering 29 languages. Revenues are primarily generated by paid services which include more functions and data protection options than the free version. The transaction demonstrates the increasing importance of AI-based enterprise models for the market and the professional area.
The new capital will be used for the continued research activities and development of the company's software. In addition, DeepL is working on additional services and features and plans further international expansion.
Advisors Atomico:
Dr. Benjamin Ullrich (Co-Lead, Transactions), Partner
Tobias Lovett (Co-Lead, Transactions), Senior Associate
Dr. Matthias Schatz (Corporate), Partner
Dr. Benedikt Flöter (IP/IT), Associated Partner
Dr. Andreas Bergthaller (Corporate), Senior Associate
Pia Meven (Transactions), Associate
Dr. Christoph Lüttenberg (Corporate), Associate
About Atomico
Atomico invests in ambitious tech founders at Series A and beyond with a particular focus on Europe, leveraging deep operational experience to supercharge their growth. Founded in 2006, Atomico has partnered with over 100 ambitious teams - including those at Klarna, Supercell, Graphcore, Compass, MessageBird, Masterclass, Attentive Mobile, Pipedrive and Hinge Health. Atomico's team of founders, investors and operational leaders have been responsible for global expansion, hiring and marketing at companies from Skype and Google to Twitter and Uber. The firm currently has $4 billion in assets under management
About DeepL
DeepL is a German company that has set itself the goal of eliminating language barriers worldwide by using artificial intelligence. Since 2017, it has offered DeepL Translator on www.DeepL.com, a machine translation system that, according to blind tests, achieves the best translation quality worldwide. It also provides professional products for companies, business people, and translators. So far, more than one billion people have used DeepL's services. The company is managed by founder and CEO Jaroslaw Kutylowski and is backed by world-renowned investors such as Benchmark and btov.
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About us
YPOG is a law firm specialized in tax and business law, active in the core fields of Funds, Tax, Banking + Finance, and Transactions. The team at YPOG represents a broad client base, which ranges from emerging technology companies and family-run SMEs to large corporations, as well as private equity, and venture capital funds. YPOG is one of the leading advisors for venture capital, private equity, and fund structuring in Germany. The firm and its partners have been recognized nationally and internationally by JUVE, Best Lawyers, Legal 500, Focus, Chambers and Partners as well as Leaders League. Today, YPOG has more than 150 experienced attorneys, tax advisors and tax specialists and a notary, in four offices, located in Berlin, Hamburg, Cologne, and Munich.
