DeepL, a leading global Language AI company, has been named to the Forbes 2024 Cloud 100, the definitive ranking of the top 100 private cloud companies in the world, published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures.
“At DeepL, we’re on a mission to break down language barriers so that every company can operate seamlessly on a global scale with AI,” said Jarek Kutylowski, CEO and Founder, DeepL. “Being named to the Forbes Cloud 100 list for two years in a row is a testament to DeepL’s steadfast commitment to research and innovation in the Language AI space, which has cemented our position as a leader in the industry and ensures our products remain at the forefront of accuracy, security and advancement. It also affirms the significant – and proven – impact that the DeepL platform is having on the way businesses around the world operate and grow.”
With a rapidly-growing customer network of over 100,000 businesses and governments around the world, including 50% of the Fortune 500 and industry leaders like Zendesk, Nikkei, Coursera, and Deutsche Bahn, DeepL has become the preferred Language AI platform for businesses worldwide. DeepL offers cutting-edge translation and writing solutions through its specialized Language AI platform, which has become a critical investment for international business growth, addressing communication challenges across numerous applications from internal operations to customer support.
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Unlike general-purpose AI systems, DeepL’s software is powered by specialized AI models specifically tuned for language, resulting in more precise translations for a variety of use cases and a reduced risk of hallucinations and misinformation. In business translation and writing, accuracy is paramount, making specialized AI models the most reliable and preferred solution for language challenges.
This accolade is the latest milestone during a period of significant growth and momentum for DeepL. Just last month, the company unveiled its next-generation large language model (LLM), which outperforms GPT-4, Google, and Microsoft for translation quality, setting a new standard for accuracy and performance. DeepL also recently unveiled DeepL for Enterprise, a solution tailored to address the evolving needs of businesses seeking to integrate AI solutions, and raised $300M of new investment at a $2B valuation in May, led by renowned late-stage investment firm Index Ventures.
For the ninth consecutive year, the Cloud 100 reviews submissions from hundreds of cloud startups and private companies each year. The Cloud 100 evaluation process involved ranking companies across four factors: market leadership (35%), estimated valuation (30%), operating metrics (20%), and people & culture (15%). For market leadership, the Cloud 100 enlists the help of a judging panel of public cloud company CEOs who assist in evaluating and ranking their private company peers.
“For nine years, the Forbes Cloud 100 list has recognized the leading private cloud companies in the world, from AI to work software, infrastructure to security,” said Alex Konrad, the Forbes editor of the Cloud 100. “This year’s list is the strongest group of standouts yet, with revenue, valuations and growth that will eventually make for historic IPOs.”
“Across nine years of data, we have yet to see as competitive of a cohort as the 2024 Cloud 100. The list value reached $820 billion this year, the highest list value in Cloud 100 history,” said Mary D’Onofrio, partner at Bessemer Venture Partners. “Unsurprisingly, AI is now the highest valued category. We continue to be excited by how AI companies are scaling rapidly, transforming the cloud, and propelling the next wave of growth, driving a massive year-over-year jump in market cap of over $150 billion.
“The past year, our industry has seen a generational step forward in innovation, and with AI leading the charge, we are witnessing one of the most important platform shifts in decades,” said Paul Drews, managing partner at Salesforce Ventures. “The Cloud 100 list represents the best of the best, and we’ve never been more excited about what the future holds, not only for the cloud but for the entire technology industry. We are proud of what these founders and their communities have already accomplished, and look forward to seeing how they continue to transform the industry in the future.”
This year, the CEOs of The Cloud 100 and the 20 Rising Stars companies will be honored with a digital content launch, as well as at the exclusive Cloud 100 Celebration hosted by Bessemer Venture Partners, Salesforce Ventures, and Forbes. A special thank you to the event sponsors, including Amazon Web Services (AWS), Bank of America, Cooley, Deloitte, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, and Nasdaq.
SOURCE: PRNewsWire