Irish translation software company Iconic Translation Machines has announced that it has attracted €400,000 in business angel investment that will allow it to expand, creating 15 new jobs.
The company provides cloud-based translation solutions to language service and translation companies, in a language industry worth in more than €37 billion annually. Iconic’s flagship product automates the translation of intellectual property documents.
Iconic was founded in 2013 by Dr John Tinsley and Dr Páraic Sheridan, and its proprietary technology was came from almost a decade of research and development at the CNGL Centre at Dublin City University.
The new jobs are expected to be filled by December 2016, bringing the total employment up to 25.
Iconic said that the majority of the new, highly technical roles will be allocated to machine translation specialists and software engineers, with some positions in sales and marketing. The company is looking to grow its presence in the financial services and life sciences sectors, following considerable success in the intellectual property field.
Welocalize, a top 10 global language service providers, has already implemented Iconic’s translation automation service across its offices in US and China.
“Iconic is a highly innovative young Irish company,” said Minister for Skills, Research and Innovation, Damien English TD, “and an excellent case study of how Ireland’s start-up eco system can help companies grow and develop, from the initial concept stage right through to becoming a commercial reality. Iconic is a great example of the type of company the Department of Jobs, Enterprise and Innovation supports through Enterprise Ireland. I warmly congratulate the team at Iconic and wish them every success for the future.”
“This announcement is testament to our success to date and ambitious growth plans,” said Dr Tinsley, CEO, Iconic. “Our team of experts has created machine translation solutions for content which had been considered too technical and challenging for automated translation. We are excited about the strong growth we have already achieved in delivering translation technology to the very complex intellectual property and financial services sectors.
“Our support network, including Enterprise Ireland, DCU, and HBAN, as well as the angels in the Boole and Bloom syndicates have been so helpful. Obviously they bring much needed funding, but more importantly they bring years of practical business expertise and advice which adds so much value as we plot the next critical steps on our growth journey.”
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