In addition to the recently obtained loan of CHF 1.15m from the Technologiefonds, Interprefy has raised CHF 1.725m from Swiss-based investors, bringing the company's post-money valuation to CHF 21m. The new funds will facilitate product development, marketing and employment of new sales headcount internationally.
Based in Zurich, Interprefy developed a cloud-based Remote Simultaneous Interpreting (RSI) platform to enable events- and meetings-organizers to reduce hours of administration and significantly reduce carbon emissions by removing the need for interpreters’ travel and accommodation.
Recognized for its environmentally-friendly solution, Interprefy received a Swiss government-backed loan of CHF 1.15m (Bürgschaft) from the Technologiefonds, operated by BAFU, the Federal Office for the Environment. The company has raised a further CHF 1.725m from multiple Swiss-based investors, bringing the Interprefy’s post-money valuation to CHF 21m.
With the ambition to capitalise on its position as the leader in the growing remote simultaneous interpreting industry, Interprefy will use the funds to drive further international expansion and increase the workforce. So far in 2019, Interprefy has appointed four new sales representatives in the APAC region and two in Europe, bringing its sales headcount to 16. Additionally, the company will invest in marketing and new product innovation, a key area of focus for Interprefy, which will enable new features and services for both interpreters and end users.
“We are addressing the challenge of connecting multinational audiences more competitively without compromising on quality,” said Kim Ludvigsen, Founder and CEO of Interprefy. “We are honoured to work with some of the most talented conference-level interpreters in the world, thanks to our network of language service providers. And, as remote interpreting increases in popularity, we will continue to expand our partner network.”
(Press release/ran)
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