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Interprefy raises another €1.7m as clients move conferences online

Interprefy, the Zurich-based remote interpreting provider, has secured an additional CHF 1.8 million (€1.7 million) from the government-backed green innovation fund Technologiefonds.

The company has reported ‘huge demand’ from clients asking them for help in taking their entire conferences – not just the simultaneous interpretation element – online.

Kim Ludvigsen, founder and CEO at Interprefy, said: “In the last few months we have seen most of our onsite events vanish, but at the same time a huge demand has arisen as clients ask us to take those and other conferences completely online. Interestingly, some of our new clients are less interested in simultaneous interpretation and are simply interested in a reliable platform and professional support to host events or conferences.”

So far Interprefy has raised over CHF 2.3 million to invest in growth.

The Technologiefonds supports Swiss technology companies whose products help lower greenhouse gas emissions through loan guarantees. It manages CHF 500 million of funds and can offer loan guarantees of up to CHF 3 million per business.

The innovation loan will allow Interprefy to increase product development and recruit more specialist expertise.

Ludvigsen added: “In this time of great challenge, we also need to be mindful of the interpreters and Language Service Providers that have lost almost all of their assignments overnight as a result of many countries restricting movement and working conditions to slow the spread of coronavirus.

“We are fighting hard to take their events online and bring them back in business. Further good news to come out of this is that conference organisers have realised that not only interpreters, but also speakers and delegates can participate in events remotely. Due to the lower cost and increased flexibility, this will only mean more demand for simultaneous interpretation in the future.”

Last year Interprefy entered into a strategic partnership with Simul International, Japan’s largest language service provider.

Under the arrangement Simul International offers its clients access to Interprefy’s silmultaneous interpreters who work from home using the Swiss company’s RSI software.