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America’s Lilt closes $55M funding led by Four Rivers



American AI business software provider, Lilt, has announced closed a $55 million Series C round led by Four Rivers.

The round, according to a statement from the startup, will help it bolster its business-focused AI translation platform.

Joined by new investors including Sorenson Capital, CLEAR Ventures and Wipro Ventures, the round will also help the company expand its R&D efforts as well as its customer footprint and engineering teams.

Lilt’s CEO, Spence Green, who confirmed the development, noted that the company was committed to building solutions that combined machine learning and human ingenuity.

He said: “Lilt aims to build a solution that will combine the best of human ingenuity with machine efficiency.

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“This new funding will reduce our unit economics to make translation more affordable for all businesses. It will also enable us to add a sales team to our existing production team in Asia. We are in three regions — the U.S., Europe, the Middle East and Africa (EMEA) and Asia — and look to have both sales and production teams in each of these regions.”

The new round saw the participation of some existing investor including Sequoia Capital, Intel Capital, Redpoint Ventures and XSeed Capital.

The round brings Lilt’s total capital raised till date to $92.5 million.

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