Grammarly raises $200 million at a $13 billion valuation to help you become a better writer with artificial intelligence

Grammarly, the popular editing tool for writing beginners, has raised $ 200 million out of $ 13 billion from new investors, including funds and financings from Baillie Gifford and BlackRock. The company plans to use the capital to drive product innovation and team development.

“I think this funding is a good testament to the strength of our industry,” Rahul Roy-Chowdhury, Global Product Manager at Grammarly, told TechCrunch. “We have had good income from the start. This challenge also harnesses the power of our responsibility to improve lives through better communication. This financial environment is part of a context of innovation and product development. ”

Roy-Chowdhury says Grammarly plans to use the money to continue investing in AI technology. The company will also continue to improve its language skills and technological training in order to provide personalized communication information to users. Roy-Chowdhury also noted that Grammarly plans to invest more to gain and build user trust.

“I see great potential as we look to the future and finally return to our mission to improve traditional communication. When remote teams first in the world try to do it by working together, there are many changes in the way the work is done. We see great opportunities to help people facing these changing situations communicate better. The new money will help us accelerate our efforts to get there, ”he said.

Regarding the company’s vision for the future of services, Roy-Chowdhury said Grammarly will go back in time with a focus on simplicity, consistency and precision. The company plans to try to expand it by adding new categories that indicate improvements.

With the release of Grammarly for Mac and Windows earlier this week, Grammarly has already expanded its product line and achieved its goal of ubiquity. New desktop apps are available for apps like Microsoft Office, Slack, Discord, Jira, etc. Roy-Chowdhury says the new desktop app aims to become the writing tool that users use every time they type. This is because current services can eliminate the problems associated with the browser extension.

“With Grammarly for Mac and Windows, we can now tie everything together and help with all communication. This allows us to be wherever you are in the conversation and can help you achieve the best results,” Roy-Chowdhury said.
Grammarly also recently announced the release of Grammarly for Developers, including the release of the Text Editor Software Development Kit (SDK), which allows programmers to configure Grammarly editing tools in a web application. This beta version of the SDK gives developers access to all the features of Grammarly automatic editing with a few lines of code. Users of the target app aren’t necessarily Grammarly users, but if they do, they can enter their Grammarly number and access everything that comes with it.

The company’s final financial performance was based on prior earnings in October 2019, when Grammarly raised $ 90 million worth over $ 1 billion. The round was led by General Catalyst, which led the only other bid for $ 110 million in May 2017, which included existing commercial IVPs and anonymous third parties.

Today, Grammarly works with over 500,000 applications and websites, including email clients, software applications, and word processors. The company claims that having good communication is important to achieving your business and marketing goals as there are a lot of people logging into multiple websites online.
Peter Singlehurst, director of private affairs at Baillie Gifford, said in a statement: “As the world becomes more and more digital, people are communicating more and more, but it is never more difficult.

Writing is one of the few businesses in the world to focus on solving this problem. What we liked was the vision of the company and the team able to adapt their products to better communicate with more people in different situations. Grammarly’s journey and long-term passion also goes in the direction of investment. ”

Grammarly operates on a premium model, and the pay tier provides users with many additional tools for grammar and writing, including things like word selection, sentence rewrite, noise editing, refinement. , the level of personalization and the search for plagiarism. Payments are $ 12, $ 20, or $ 30 per month.