Remote interpretation platform Interactio has closed a $30 million Series A funding round after its product usage grew 12 times between 2019 and 2020.
The Lithuania-based startup allows users to connect with certified interpreters. While it offers a video conferencing platform its customers can use for meetings, it can also integrate with other tools like Zoom.
The companyโs customers include the United Nations, European Commission and other major institutions and has skyrocketed in popularity due to the worldwide shift to more online platforms.
Interpreters can either be in the room where the meeting is taking place, or interpret remotely by attending the meeting virtually.
Currently, Interactio works with over 1,000 freelance interpreters and also partners with interpretation agencies to provide a larger pool of interpreters to meet its growing demand from companies shifting to hybrid work models.
โWhen we started, our biggest competition was simultaneous interpretation hardware for on-site interpretation. At that time, we were on the mission to fully replace it with our software that required zero additional hardware for attendees besides their phone and headphones,โ a spokesperson said. โHowever, for institutions, which became our primary focus, hybrid meetings are the key, so we started partnering with simultaneous interpretation hardware manufacturers and integrators by working together on hybrid events, where participants use hardware on-site, and online participants use us.โ
