Writepath Has Raised A New Round Of Investment From Elite Investor
TAIPEI, Dec. 19, 2022 /PRNewswire/ -- WritePath is proud to announce a new round of investment from prestigious investor. The funding was led by Mr. Alex Lee, CEO of Quantum International Corp. (QIC), and followed by several angel investors, including Mr. Mark Chang, one of the most successful entrepreneurs in Southeast Asia and the founder of jobstreet.com, the largest online job bank in East Asia. Prior to this round of fund-raising, WritePath previously received investment by UDN.com, a subsidiary of Taiwan’s United Daily News Group, and well-known Singaporean translation firm Elite Asia.
In view of the explosive growth in global demand for ESG (environmental, social, governance) information disclosure in recent years, WritePath has, since securing funding, worked to further strengthen its bilingual ESG-related disclosure and digital services. At the same time, with the Taiwanese government’s Bilingual 2030 Plan and promotion of corporate governance evaluations, listed companies are gradually moving to greater transparency and multilingualism of information, facilitating the reading and analysis of corporate information by overseas investors and stakeholders.
To meet this growing trend, WritePath is leveraging the power of translation technologies such as AI and linguistic corpora to assist listed companies in disclosing investor relations (IR) information such as financial reports, annual reports, ESG/CSR reports, institutional investors’ conference/ earnings call reports, and more in English. WritePath has continually optimized its services over the past two years. In addition to being recognized by Slator, a well-known translation industry media outlet, as one of the world’s fastest-growing language service providers in the world, its “Warren” financial machine translation engine, developed in-house, has received the support of the Taipei City Government’s R&D plan. This year (2022), the company’s translation results were rigorously evaluated by the research team of Assistant Professor Daphne Qi-Rong Chang of Soochow University, which found the translation quality in the fields of financial reports, annual reports, and other specialist IR information to surpass that of well-known European machine translation engines DeepL.
WritePath will also expand the language services provided to listed companies, strengthening its AI model and investment with a focus on multimedia content and disclosures related to ESG and investor conferences for foreign investors, including English subtitles, earnings call transcripts, IR/ESG information disclosures on corporate website, and website development, along with advertising and other content, providing a “one-stop shop” for translating/ copywriting ESG information into English.
Similar companies in the information disclosure and financial publications industry include Toppan Merrill, R.R. Donnelley (SDL), Pronexus, and IR-related service businesses such as EQS Group and MZ. On the ESG information and data front, there is also the recently-listed Fiscalnote.
The primary uses of this round of funding will include:
1. Expanding from translation services for listed companies to the provision of digital services, including ESG/Investor Relations web page development, verbatim English transcripts of investor conferences, and audio-visual media.
2. Vertical integration and upgrading of the brand. Starting from the translation business, the company will work with ESG consultancies to provide listed companies with the services required for language-related information disclosure, including the design, layout, and printing of ESG reports. Constructing an industrial ecosystem for regulatory information disclosure.
WritePath has been selected by AppWorks, the leading accelerator in Southeast Asia, and the TAG.PASS for IBM Watson program in Singapore. Through the accelerator, the company improved its products, business development, and technology, and in recent years, it has focused its accumulated growth momentum on the B2B service+SaaS model.
WritePath currently serves more than 200 listed companies. In the next two years, it will continue to target the more than 1,700 listed companies in Taiwan as its primary target customer group, gradually moving toward becoming the authoritative provider of translation of listed companies’ financial, IR, product, and other documentation and linguistic and digital publication services for information disclosure.
In the future, WritePath will focus on the development of two main product types:
1. Translation, layout, printing, and production of annual reports and other regulatory documents, major information, and official websites for listed companies. Institutional investors’ conference call materials, verbatim transcripts, and audio/video subtitles.
2. Localization of multimedia subtitles, software interfaces, content, technical documentation, contracts, and marketing for game companies and foreign companies.
WritePath also continues to recruit people who are passionate about language, corporate governance transparency/ESG-related regulations, and English-language information disclosure.
QIC is Taiwan’s first independent, MiFID II-exempt, research-based capital market advisor specializing in long-term shareholder value creation, AGM-related special event management, and turnkey corporate finance solutions.
Our client base includes public companies, money managers and special project managers. We rely on our many years of experience in the Greater China capital market, our deep understanding of local market protocol and our extensive network of contacts to provide turnkey solutions for a variety of client needs.
Founder and CEO Alex Lee and his team collectively own over 60 years of experience in the Greater China capital market. We have a wide network of contacts within local industry and in the international investment community. We have helped countless companies, chairpersons, key decision makers, and buy side funds successfully achieve their financial and strategic goals.
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SOURCE WritePath Pte. Ltd.