VerbalizeIt, a startup that runs an on-demand, remote translation platform, has been acquired by Smartling, a translation software business.
The terms of the transaction between the two New York City companies were not disclosed.
VerbalizeIt, a multi-million dollar business which used a mix of human translators and technology to power its results, said the startup has "supporting thousands of travelers and hundreds of businesses" and that the customers would now be serviced by Smartling.
It had received $1.5 million in private equity funding from angel investors in autumn 2012. Tnooz profiled the company in 2013. In 2013 it won the "Startup of the Year" award at the Phocuswright Conference's Travel Innovation Summit. It is an alumnus of the Techstars program and was featured on the US TV show “Shark Tank”.
By this autumn, Smartling's enterprise platform will add several VerbalizeIt tools, such as the transcription and translation of audio files, access to a network of translators worldwide, and the ability to add localized captions and subtitles to the content of client companies.
The Wharton School whiz kids who founded VerbalizeIt, Ryan Frankel and Kunal Sarda, will join Smartling.
Last month Smartling (which has raised more than $63 million in funding) acquired Jargon, a company that helps business localize their mobile applications.
Tnooz Startup Pitch: VerbalizeIt looks to leap language barriers via a network of live translators