Marketplace, Machine Translation, API, Crowd-sourcing
Straker is a global provider of 24/7, high quality and efficient, cloud-enabled translation services, offering translation services in over 80 source languages into more than 100 target languages.
Straker provides translation services to customers ranging from SMBs (small- medium-businesses) through to large enterprises. It has more than 10,000 customers in over 20 countries, and generates more than 80% of its revenue outside of Australia and New Zealand. The business has a very strong repeat customer base.
Straker’s proprietary technology platform has been iteratively developed over 5 years based on actual customer usage with a translation software memory database based on accurate and previously humanly translated text pairs. Straker’s technology centralises, simplifies and accelerates the translation process, resulting in cost efficiency.
The business operates in the estimated US$37B global translation industry, which is forecast to reach more than US$47B in 3 years. Growth in this industry is underpinned by increased content published online, increasing international expansion of businesses of all origins, and the growing middle class in emerging markets.
Straker is headquartered in Auckland, New Zealand, with 50 global FTEs, sales offices in the US & Canada, Australia, Singapore, the UK, Ireland and Germany, and major production centers in Spain (Barcelona) and Auckland. Straker is the market leader in New Zealand and Australia, and ranks among the Top 100 language service providers globally (out of a total 27,000 vendors worldwide).
Prior to the investment by Bailador, the company operated at a profit. The investment by Bailador will allow Straker to invest in sales resources in core growing markets and drive further product development. Straker is expected to continue to grow rapidly in its very large addressable international markets, leveraging its technology and business model advantages.
Auckland, New Zealand (HQ); Sydney, Melbourne, Brisbane, and Perth, Australia; San Francisco, Boston, New York, Chicago, Miami, and Washington, United States; Mississauga, Canada; Singapore, Singapore; London, UK; Dublin, Ireland; Munich, Germany; Barcelona, Spain; Sandton, South Africa.
Two of Bailador’s portfolio companies have been named as top Aussie start-ups credited with leading online innovation in an article by CIO.
Open source data platform firm Instaclustr has closed a $7m investment round led by Bailador Technology Investments, the firm founded by ex-Fairfax chief David Kirk.
Paul Smith in the Australian Financial Review interviews Grant Straker of Straker Translations about their recent acquisitions and plans for a 2017 ASX IPO.
Bailador is holding its Annual General Meeting on Thursday 13 October at 11:00am at the offices of Hall Chadwick at Level 40, 2 Park Street Sydney.
Click Here for the Notice of Meeting and Proxy Form
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