Phrase Raises €12M Debt Financing from CIBC Innovation Banking

The company intends to use the funds to further develop its AI-driven language technology. Led by CEO Georg Ell, Phrase specializes in cloud-based localization solutions that enable organizations of all sizes to open the door to global business through advanced automation and a broad variety of integrations. The Phrase Localization Suite is equipped with the translation management system, a specialized platform for software and digital products, and supports 500+ languages, 50+ file types, 30+ machine translation engines, and 50+ integrations. The enterprise-grade suite enables users to drive growth with a connected ecosystem of tools. Organizations like Uber, Shopify, Volkswagen, and others use Phrase’s solutions.