California-based Grammarly, a digital writing assistant that helps people communicate clearly and effectively, announced that it has raised over $200M (approx 176.5M) in a fresh round of funding.
The investment came from new investors including Baillie Gifford, and funds and accounts managed by BlackRock among others.
“To improve lives by improving communication”
Founded in 2009 by Alex Shevchenko, Dmytro Lider, and Max Lytvyn, Grammarly has focused on a singular mission: improving lives by improving communication. The company works to empower users whenever and wherever they communicate, building a product that scales across platforms and devices.
Grammarly claims to have supported 30 million people and 30,000 teams write more clearly and effectively every day, while delivering over 100 billion writing suggestions to its users each month.
The company applies “best-in-class” Natural Language Processing (NLP) and Machine Learning (ML) methods and continuously fine-tunes them to deliver precise and explainable communication feedback. The platform’s real-time suggestions offer contextual grammatical error correction, ensure consistency, encourage inclusive language practices, promote conciseness, and more.
Brad Hoover, CEO of Grammarly, says in a blog post, “We’ve always believed the ability to communicate effectively should not be dependent on which application or operating system you choose, so we’ve invested in making our service available across more than 500,000...
Read Full Story: https://siliconcanals.com/crowdfunding/grammarly-raises-176-5m/
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