From September 2020 to today, Lokalise has grown from 40 to over 180 people and become truly remote, establishing and nurturing a strong culture. The team gave up their office in the heart of Riga, offering everyone the opportunity to use coworking spaces worldwide wherever they are. Important milestones that have been fundamental for their success include hiring the first senior managers, successfully mastering the balancing act of tripling their revenue while not harming the very attractive unit economics, and continuing to release exciting product updates.
The customer base is very diverse: individuals starting new projects, scaleups like Revolut, Monday.com, and enterprises such as BASF looking to improve and streamline their localisation process. Customers truly love Lokalise, which is highlighted not just by leading the G2 product reviews quarter after quarter, but also by their industry-leading NRR.
It comes as no surprise that we see this strong $50m Series B funding round now. The additional capital, knowledge, and network through new investors including CRV, Creandum, and Dawn Capital will accelerate hiring, product development, and partnerships. It enables Lokalise to deliver on its vision of a world where consumers aren’t limited by language.
Eva Arh (Principal at 3VC), who knows Nick and Petr for almost 4 years now, is taking this moment to reflect on their journey:
“I am proud and moved to see that founders coming from CEE, typically much more down-to-earth and rarely overselling, are building world-class teams and products that are loved by customers globally. From the early days of bootstrapping successfully with a small team, Lokalise has emerged as a fast-growing company with industry-leading metrics. They have delivered on absolutely every single thing they planned. That has been possible because of the founders’ endless ambition and hunger to keep learning and adopting best practices.”
We feel inspired seeing a global company born in Latvia that’s shaping and dominating a new category. We are convinced that Lokalise will soon be the go-to choice for every company that operates internationally – and we’re very excited to continue this journey with them!