The popular auto-editing tool for writing has raised $200 million in funding at a $13 billion valuation from new investors, including Baillie Gifford and funds and accounts managed by BlackRock. The investment will be used to accelerate product innovation and team growth.
The global head of product at Grammarly told TechCrunch in an interview that the funding round is a great validation of their business strength. Cash flow has been positive from the very beginning. The strength of our mission is shown by the round. The funding round is related to product innovation and product scaling.
Roy-Chowdhury says that the funding will be used to make investments in its technology. The company will continue to improve its natural language processing and machine learning tech. Roy-Chowdhury said that the company plans to make more investments to earn and strengthen user trust.
At the end of the day, I see so much potential because it always comes back to our mission of improving communication. There is a lot of change in how work gets done with remote-first global teams. Changing scenarios allow us to help people communicate more effectively. He said that the new funding will help accelerate their efforts.
Roy-Chowdhury said that the future of the service will focus on conciseness, consistency, and correctness. The company plans to add new categories to offer suggested improvements while also working to become more ubiquitous.
With the launch of the Grammarly for Mac and Windows earlier this week, the company is already scaling its product offerings and achieving its goal of ubiquity. The new desktop application can be used on a variety of apps. Roy-Chowdhury says that the new desktop app will be the go-to writing tool for users wherever they type, as the service is now able to break out of technical barriers associated with browser extensions.
The image was called "GRAMMELLY."
We can now help you with the entire communication flow with the help of Grammarly for Mac and Windows. Roy-Chowdhury stated that they are present everywhere you communicate and can help you achieve your outcomes more effectively.
The Text Editor SDK is a software development kit that allows programmers to add text editing to any web application. The full power of automated editing can be accessed with a couple of lines of code in the alpha release. If users of the target application happen to be Grammarly customers, they can log into their accounts and access all of the features that come with that.
The company raised $90 million at a valuation of over $1 billion in October. General Catalyst led this round, which was followed by other unnamed backers and participation from previous investor IVP.
More than half a million applications and websites are supported by Grammarly, including email clients, enterprise software, and word processors. It is important to get communication right in order to achieve individual and business goals, which is what the company aims to help its users accomplish.
Peter Singlehurst, head of private companies at Baillie Gifford, said in a statement that it has never been more difficult to communicate in the modern world. Grammarly is one of the few businesses that is focused on this problem. The team has the ability to drive the product forward to help more people in more situations communicate better. Our approach to investing is in alignment with the long-term and ambitious approach of Grammarly.
The free model of Grammarly gives users more tools than just spelling and grammar checks, such as word choice, sentence rewrites, tone adjustments, formality, and plagiarism detection. The tiers are priced at a certain amount.
