SALT LAKE CITY, Feb. 14, 2018 (GLOBE NEWSWIRE) -- inWhatLanguage, a leading localization and translation technology provider, has closed a $1.25 million business investment from Enhanced Community Development (ECD), a subsidiary of Enhanced Capital, to provide critical financial resources to be used for expansion of jobs, technology, customer acquisition, and greater language service offerings.
Headquartered in South Salt Lake, Utah, inWhatLanguage qualified for the specialized funding as a business located in a low-income community. The funding was facilitated by the federal New Markets Tax Credit program, which is designed to encourage private capital investment in economic impactful businesses or projects located in underserved areas.
The acquired capital will be used to create new jobs within the company, as well as advance the propriety UNIFY cloud-based translation management technology capabilities to meet the needs of inWhatLanguage’s growing enterprise client base. The company has doubled the volume of translation projects delivered and increased the languages offered to more than 200 within the past year.
“We’re very eager to take advantage of the opportunities this capital infusion provides our company, our clients and our future business partners,” said Cody Broderick, CEO and founder of inWhatLanguage. “We are a mission-driven company and our growth fuels how we help unify communities and help businesses reach their global potential. With our great partner, Enhanced Capital, we’re able to rapidly expand our business and increase our impact around the world.”
“Our team is greatly impressed with Cody’s and inWhatLanguage’s commitment and passion to serving its customers; delivering a global, technologically-advanced solution; and creating jobs,” said Paul Kasper, a Managing Director of Enhanced Capital. “To date, the company has achieved great success, and we look forward to watching the iWL team expand its operations and grow its client base. This investment is a great example of how public-private partnership programs like the New Markets Tax Credit Program can have a positive impact on growth-oriented businesses located in low-income areas.”
inWhatLanguage specializes in large-scale translation and localization services for technology, consumer products, healthcare, education, manufacturing and media. With the explosion of content volumes, for software, web, e-learning and digital media, inWhatLanguage has built support translation management tools and technology to help companies manage the localization and translation faster and with improved quality and on-time delivery.
About inWhatLanguage
inWhatLanguage is a localization and technology provider breaking down language and cultural barriers to unify people and communities around the world. We develop technology and human networks, which connects organizations to communities by allowing them to create, control and manage all enterprise-wide content through a proprietary, cloud-based translation management platform called UNIFY. www.inwhatlanguage.com
About Enhanced Community Development
Enhanced Community Development (ECD), a subsidiary of Enhanced Capital is a federally designated Community Development Entity focused on the financing needs of businesses and developments located in or serving low-income communities. ECD proudly participates in the federal New Markets Tax Credit (NMTC) program and a variety of state NMTC programs. ECD is an Equal Opportunity Provider. Since 2006, ECD has deployed more than $500 million in federal and state NMTC allocation to job-creating businesses and organizations in economically distressed communities. http://enhancedcapital.com/
Media Contact:
Seth Craven
sethc@inwhatlanguage.com
(385) 333-2366