Thursday, July 17, 2008

Lingotek is the leading provider of Collaborative Translation Technology and Language Asset Management solutions

What Company Is Offering:
Lingotek is the leading provider of Collaborative Translation Technology and Language Asset Management solutions designed to meet the requirements of organizations challenged with communicating, interacting, and commercializing a global audience. Lingotek's software helps companies achieve unprecedented control over the translation process. Lingotek enables companies to capture, grow, and re-use their linguistic assets.

How Much They Got From VCs:
Lingotek, the leader in collaborative translation technology, announced a strategic investment, work development, and licensing program with In-Q-Tel, the independent strategic investment firm that identifies innovative technology solutions to support the missions of the Central Intelligence Agency and the broader U.S. Intelligence Community. Lingotek provides a new and innovative platform to facilitate more efficient, faster language translation. This agreement will fund the development and enhancement of new translation solutions, including breakthrough global collaboration translation technology. The In-Q-Tel investment is also part of a Series B funding round, with participation by Flywheel Ventures and Canopy Ventures. The funds will be used to expand business operations, distribution, and further develop Lingotek's language technology capabilities.

“This strategic investment from In-Q-Tel validates Lingotek’s technology and strategy of enabling human language translators to capture, grow and re-use linguistic assets for both the commercial and government markets,” said Rob Vandenberg, Vice President of Sales and Marketing. “Our Series B round of financing will enable Lingotek to continue to develop innovative language solutions and increase our distribution to both markets.”

More at:www.Lingotek.com.