Art manager

Memsource Secures €15 Million in Funding and Hires US Managing Director from Unbabel to Accelerate Global Growth

World’s top-ranked translation management solution secures new funding, led by global investment firm Carlyle, hires Edmund Ovington to lead US operations

New York — June 28, 2022 — Memsource, the industry’s top-ranked translation management solution, today announced it has secured a €15 million fundraising round, led by global investment firm Carlyle (NASDAQ: CG) and its existing investors . The funds will be used to accelerate the company’s growth through global talent acquisition, product development and global expansion initiatives.

This funding announcement follows a series of transformative changes for the company, including the recent appointment of CEO Georg Ell and the acquisition of the Phrase SaaS platform, which added software localization capability, as well as the acquisition by Carlyle of a majority stake. in Memsource in 2020.

Memsource also announced today the hiring of Edmund Ovington as General Manager, North America, where he will lead a growing team, building on strong momentum in the region. Ovington brings significant SaaS industry and growth experience, having been a key executive at Unbabel in various sales and channel leadership roles, and previously led teams at Microsoft, Yammer, Beem and Percolate.

“We are delighted to receive continued support from our lead investor, confirmation of our strong performance across the business, and confidence in a solid business plan that balances ambitious growth with a sustainable underlying economy. At a time of economic uncertainty, as others downsize, we will continue to invest in our products and our people, with today’s announcement that Edmund is joining us, and other news. exciting things to come this year. said Georg Ell, the recently appointed CEO of Memsource. “These funds will be used to drive innovation and expand our global footprint as we recruit world-class talent to help us deliver strong product and customer service experiences. We’re in an exciting industry, with a passionate international team – we encourage everyone to visit our careers page at memsource.com/careers.

The company’s mission is “opening the door to global commerce by giving everyone access to the content they need in the language they speak”. Pursuing this mission means pushing the boundaries of language technology through automation and artificial intelligence to enable high-quality, scalable, and rapid localization for teams of all sizes. Memsource supports an incredible number of companies to accelerate their global growth. These include Uber, Zendesk, Shopify, Personio, TravelPerk, OVH, Supercell, Huawei, Vistaprint, Škoda, Bosch, Fujifilm, Volkswagen, Porsche, XING and many other customers worldwide.

About Memsource

Memsource helps global companies translate efficiently. Ranked as the leading translation management system on G2, Memsource supports over 500 languages, over 50 file types and over 30 machine translation engines. Memsource enables its clients to increase translation quality while reducing costs through its patented, state-of-the-art artificial intelligence technology. Serving thousands of global customers, including top brands like Uber, Supercell, Vistaprint and Zendesk.