I am very happy to report that Riverside Partners, a prominent Private Equity firm based in Boston, has invested $34 million in Welocalize to support our exciting growth plans. Not only is this a great vote of confidence in Welocalize, it is a great vote of confidence in our industry. While many industries around the world are still struggling from the recession, we are fortunate to be in an industry that is growing at a double-digit rate! The credit for this great news goes to our clients, staff and translation partners all around the world.
The changes happening in our industry are equally exciting. The quality process is becoming more community oriented; there is a strong groundswell for openness and technology interoperability, and collaboration across competitors is growing in order to best serve client needs. On top of all of that, content on the internet is doubling every 18 months. Someone is going to have to translate the ever increasing volumes of this content – which means amazing opportunity for all of us.
My vision is for Welocalize to support its clients by enabling any content, on any device, in any language – anywhere in the world. We plan to use the Riverside investment to support this vision. Specifically, we will invest in our 4-Pillars:
Quality: expanding our QA staff and investing in the acquisition of quality oriented translation providers around the world
Customer Service: expanding both our staff and our locations worldwide to increase in-time-zone responsiveness and personal touch
Innovation: investing in innovative products across the translation supply chain in order to positively transform the user experience for translators, service providers and clients
Teamwork: investing in the expansion, training and support of our worldwide staff
I want to thank our clients, staff and worldwide translation partners for helping to make this exciting development happen.