Localization tool company LocalizeDirect secures VC funding from TeknoSeed

Helsingborg, Sweden 25th January 2010 – LocalizeDirect has secured funding from TeknoSeed, the leading venture capital firm in southern Sweden, in order to finalize and launch a system for efficient localization of video games including digital games, a sector showing explosive growth. With a real time based localization process, new games are launched faster and to a broader market. TeknoSeed will invest an initial Euro 250.000 which will secure market introduction in 2010.

The system, called LocalizeDirect, is an online solution enabling real time localization of text strings, directly connecting all the stakeholders in the process; including developers, producers, translators, proofreaders, localization managers and QA staff.

”We are pleased to become investors in a very interesting venture with the potential to reshape the expanding market for software localization. The founders of the company are serial entrepreneurs with vast experience from the gaming industry and development of advanced internet based transaction systems, giving us solid ground upon which to build a successful company “, said Marcus Skärbäck, Partner at TeknoSeed.

”We are very pleased to gain TeknoSeed as investor and partner in LocalizeDirect, as we are now launching our localization solution”, says Christoffer Nilsson, Managing Director at LocalizeDirect AB. “Localizing video games into different geographical regions is a must. This has become an extremely important factor in increasing sales. Publishers and developers are targeting more languages than ever before, game development complexity has continued to increase but the localization process has stayed the same. Traditionally, localizing gaming products has been complex and slow, causing delayed market introduction and reduced profits. With LocalizeDirect, developers and publishers can improve their localization process, save valuable time and increase the quality of localized versions” continues Christoffer Nilsson.

Contact:
Christoffer Nilsson, MD
LocalizeDirect AB
+46 (0)42 18 19 62
cn@localizedirect.com

Marcus Skärbäck, Partner
TeknoSeed Portfolio Management AB
+46 (0)709 14 51 59
marcus.skarback@teknoseed.se

About LocalizeDirect AB
LocalizeDirect AB is a Swedish company incorporated in 2009 and founded by Christoffer Nilsson and Mattias Wennerholm. The company develops and markets a software system for localization. Read more about LocalizeDirect at: www.localizedirect.com

About TeknoSeed Portfolio Management AB
TeknoSeed is a leading venture capital firm in southern Sweden, with focus on high growth technology based start-ups. Since inception in 1997, TeknoSeed has made more than 30 investments in companies within the ICT, Life Science and Technology sectors. Read more about Teknoseed at: www.teknoseed.se