- Language services bookings increased 112% year over year
- Fourth quarter expansion bookings increased 118%
- Fourth quarter language services bookings increased 211% year over year
NEW YORK, New York - January 15, 2019 - Smartling today announced financial results for its 2018 fiscal year ending December 31, 2018. The company, a premier software and translation services provider that established the Enterprise Translation Cloud category, posted a record year in terms of annual revenue and bookings. Fourth quarter, in particular, was a breakout quarter for the company, with an increase in quarterly expansion bookings of 118% year-over-year.
“Smartling’s record-breaking performance in 2018 is a reflection of how companies are thinking about and buying language translation solutions,” said Jack Welde, Smartling Co-Founder and CEO. “The entire Smartling team has been instrumental in making 2018 a banner year for the company, and I couldn’t be prouder. We are sincerely thankful for our wonderful customers and countless partners who trust us with their global content experience.”
Year over year, Smartling added an additional 25% new logos, and increased bookings from existing customers by 50% in 2018. As a provider of language services, Smartling increased its language services bookings by a whopping 211% year-over-year.
Frank Miele, the company’s VP of Finance, reported a strong cash position for the fiscal year ending in 2018. “We have the financial wherewithal to garner a growing share of the market,” said Miele. “Our relentless focus on fiscal responsibility across the board has provided the company with cash reserves that can be used to acquire companies, hire staff, invest in technology, and expand our global footprint to facilitate growth.”
Smartling is recognized for creating Enterprise Translation Cloud in response to today’s global market. More content is being created by a greater number of people to expand a company’s reach, and Smartling enables companies to more easily localize content across devices and platforms to engage global consumers.
In 2018, Smartling brought a number of technology innovations to the market, including:
- Quality Confidence Score™, a machine learning algorithm that analyzes translator efficacy and advises businesses how to systematically improve translation quality
- The industry’s first language translation integration with Contentful’s headless CMS architecture
- Web Translation Proxy availability via Alibaba’s cloud infrastructure in China
- Expanded support for an additional 8 machine translation engines, including Amazon Translate
- Slack integration for direct communication between translators and customers
- Upgrades to Smartling’s Adobe Experience Manager integration to support version 6.4
- Upgrades to Smartling’s Drupal integration to to support Drupal 8’s TMGMT architecture
To drive awareness and reinforce its vision for language translation, Smartling made a number of key market-positioning investments in 2018. The company created two brand films, Anywhere, Today and Quill to QWERTY, which debuted at Smartling’s Global Ready Conference™ in San Francisco and London. The success of these events led to the establishment of Global Ready Boot Camps, free half-day localization workshops in five different cities around the world. In the fourth quarter, Smartling also launched a new website and refreshed brand to further cement its position in the market as a technology and language translation services leader.
To cap off the year, Smartling was recognized by G2Crowd as the Leader in the “G2 Crowd Grid® for Translation Management” for Winter 2019.
Smartling is a privately held and venture-backed company. Lead investors include Venrock, US Venture Partners, RIdge Ventures, Tenaya Capital, and ICONIQ Capital.
To learn more about Smartling, please visit smartling.com.
Smartling is a language translation company that enables customers to localize content across devices and platforms. The company is recognized by CSA Research as the #1 Leader of the 2019 MarketFlex for Language-Oriented TMS, and by users on G2 as the Leader of the 2019 G2 Grid for Translation Management. Smartling established Enterprise Translation Cloud, a data-driven approach to localization, which enables its customers to achieve higher quality translation at a lower total cost. Smartling is the platform of choice for hundreds of B2B and B2C brands, including InterContinental Hotels Group, Shopify, Slack and SurveyMonkey. Smartling is headquartered in New York, with offices in Dublin and London. For more information, please visit smartling.com.
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