Grammarly, a popular writing auto-editing tool, has raised $200 million in funding, valued at $13 billion from new investors including Baillie Gifford and funds and accounts managed by BlackRock, among others.
Grammarly intends to use the funds to continue investing in its artificial intelligence technology. In order to provide personalized communication feedback to its users, the company will continue to enhance its natural language processing and machine learning technology. Grammarly intends to increase its investment in order to earn and strengthen user trust.
With the launch of Grammarly for Mac and Windows earlier this week, Grammarly is already expanding its product offerings and achieving its goal of ubiquity. Microsoft Office, Slack, Discord, Jira, and other apps can all benefit from the new desktop application. The new desktop program, according to Roy-Chowdhury, wants to be users’ go-to writing tool wherever they type because it can now overcome technical barriers associated with browser extensions.
Grammarly has recently announced the launch of its Text Editor SDK (software development kit), which allows programmers to embed Grammarly text editing features into any web application. With just a few lines of code, developers can access the full power of Grammarly automatic editing with the beta version of this SDK. Although users of the target application do not have to be Grammarly customers, if they are, they may log into their Grammarly accounts and use all of the features available.
Grammarly’s most recent investment round follows one in October 2019, when the startup raised $90 million at a valuation of over $1 billion. General Catalyst led this round, which followed its only other round, which raised $110 million in May 2017, with participation from previous investor IVP and other unnamed backers.
Grammarly is now integrated into over 500,000 apps and websites, including email clients, enterprise software, and word processors. According to the company, as more people communicate across more online platforms, it’s important to get communication right in order to reach personal and business goals, which it intends to help its users achieve.