Grammarly is raising $200 million worth $13 billion to make you a better AI writer
Grammarly, a popular automatic text editing tool, has raised $200 million worth of $13 billion from new investors, including Bailey Gifford, as well as funds and accounts managed by BlackRock. The company plans to use the investment to accelerate new product development and team growth. "I believe this funding round is a great testament to the strength of our business," Rahul Roy Chowdhury, Global Product Manager at Grammarly, told TechCrunch.
“We have had positive cash flow from the start. This round also confirms the power of our mission to improve lives by improving communication. This funding round comes in the context of product innovation and product scaling.” RoyChowdhury says Grammarly plans to use the funding to continue making investments in its AI technology. The company will also continue to advance its natural language processing and machine learning tech to deliver personalized communication feedback to its users. RoyChowdhury also noted that Grammarly plans to make additional investments to earn and strengthen user trust.
“Looking ahead, I see so much potential because, at the end of the day, it always comes back to our mission of improving communication. There`s so much change in how work gets done with remotefirst global teams trying to work together. We see tremendous opportunities to help people with these changing scenarios communicate more effectively.
This new funding will help us accelerate our efforts in this direction.” Regarding the company's vision for the future of services, Roy Chowdhury said that Grammarly's focus on brevity, consistency and accuracy The company said it would be a thing of the past, the company plans to add new categories to suggest proposed improvements and will also work to roll it out everywhere Grammarly is already expanding its product portfolio and is expected to launch earlier this week. We are achieving the goal of ubiquitous distribution through New desktop apps are available for apps like Microsoft Office, Slack, Discord, Jira, and more. Roy Chowdhury said the new desktop application will be a tool that will allow users to write text as they type. This is because services can now overcome the technical barriers associated with browser extensions.
“With Grammarly for Mac and Windows, we can now tie everything together and help streamline the entire communication flow. This allows us to attend wherever you communicate and can help you achieve results more effectively,” said Roy Chowdhury.
Grammarly also recently announced the release of the Text Editor Software Development Kit (SDK), which allows programmers to embed Grammarly's text editing capabilities into any web application. The beta version of this SDK gives developers access to all of Grammarly's automatic editing features with just a few lines of code.
Target app users don't have to be Grammarly customers, but if they are, they can log in to their Grammarly account and access all the features that come with it. The company's latest funding round follows a previous funding round in October 2019, when Grammarly raised $90 million in a valuation of over $1 billion. The round was led by General Catalyst, who helped lead the round based on input from previous investor IVPs and other anonymous backers. In May 2017, we made another investment of $110 million.
Grammarly operates more than 500,000 applications and websites today, including email clients, enterprise software, and word processing applications. The company says the more people connect to more online platforms, the more important it is to build communications to achieve personal and business goals, and the more we strive to achieve them. The
Grammarly operates on a premium model, while the paid tier gives users more tools beyond grammar and spell checking, including items like word selection, sentence rewriting, tone correction, fluency, form level and plagiarism detection. The cost of the paid level is as follows: 12, 20 and 30 dollars per month.