Investment & Fund Management

Unbabel, a company based in Lisbon and San Francisco, faced significant challenges in scaling customer service across multiple languages. Traditional translation methods required hiring native speakers for each language, which was both costly and inefficient, creating overheads that hindered growth. The CEO and co-founder, Vasco Pedro, recognized that the multiplicity of languages could become a barrier for businesses looking to expand into new markets.

To address these niche issues, Unbabel developed an AI-powered translation platform that enables companies to provide customer service in their clients' native languages without the need for a large team of multilingual agents. This solution allows a single customer service representative to handle inquiries in multiple languages, effectively centralizing resources and reducing costs. The platform continuously trains its AI systems using customer data to ensure accurate and meaningful communication, allowing seamless interactions between customers and service teams.

As a result of this innovative approach, Unbabel has attracted a prestigious clientele, including major companies like Microsoft, Expedia, Booking.com, and Facebook. In 2019, the company secured investment from Indico Capital, a venture capital firm supported by the European Investment Fund (EIF) under the EU’s Investment Plan for Europe. This funding is aimed at facilitating Unbabel's growth into the Asian market and expanding its product offerings beyond customer service to include sales, marketing, and other business functions. The tailored solution not only improved operational efficiency but also enhanced customer experience by breaking down language barriers, enabling businesses to operate more effectively in diverse markets.