Pairaphrase, a provider of enterprise language translation software, today announced a partnership with Red Cedar Ventures, a startup financing firm supported by the Michigan State University (MSU) Foundation.
It was one of five startups selected for the MSU Conquer Business Accelerator programme that year, and the company provided pre-seed investment in the form of a convertible note for their online translation software. Red Cedar Ventures has made the decision to convert the note into stock.
Pairaphrase, a provider of enterprise language translation software, has announced a joint equity investment with Red Cedar Ventures.
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In order to fulfil its goal of resolving the world’s translation issues, Pairaphrase has been able to extend its marketing initiatives and add numerous platform advancements thanks to funding from RCV. The annual revenue of Pairaphrase has increased 30% over the last two years.
“We are happy to observe the business’s continued growth and are looking forward to the coming initiatives. We value all of the assistance, including Red Cedar Ventures’ participation as an equity partner. This chance will spur Pairaphrase’s growth and enable us to offer the greatest translation management solution to our users “explains Rick Woyde, CTO & CMO of Pairaphrase.
The goal of Red Cedar Ventures is to become the premier Mid-Michigan venture fund, creating economic impact for the area, the state, and value-added collaborations.

Source: Prnewswire