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Wordfast is a private company that develops Wordfast and provides related services. The first version of Wordfast was developed in 1999. At that time there were only a few Translation Memory software packages available and these were very expensive. The initial idea was to develop a TM package at a price that was affordable.

Wordfast has continuously focused on submitting new developments to a group of real translators for feedback to ensure it is suitable for real life application.

Wordfast is currently used by over 35,000 translators worldwide in a huge range of languages. It has earned rave reviews from numerous publications and is widely used in academia for training translation technology students.