Grammarly, a San Francisco-based information technology startup, has raised more than $ 200 million to expand its leadership after becoming the 10th most valuable startup in the U.S.
Investors like Baillie Gifford and BlackRock took part in the round, bringing Grammarly’s valuation to $ 13B after securing a total funding of more than $ 400 million. Capital infusion will allow startups to invest heavily in product innovation and team growth, while maintaining their leadership by offering new functions.
Peter Singlehurst, head of Private Business at Baillie Gifford, referred to the round:
“We are pleased to be teaming up with the Grammarly team to democratize effective communication. As the world has digitized, people are communicating more than ever, but it has never been so difficult. Grammarly is one of the few businesses in the world dedicated to solving this problem. What attracted us was the company’s focus and the team’s ability to drive the product to help more people in more situations communicate better. Grammarly’s long-term and ambitious vision is also in line with our vision for investing. We look forward to many years of collaboration with Grammarly. ”
Grammarly was created with the mission of providing its users with an easy way to make written communication efforts more effective. The startup uses advanced multi-platform solutions developed ERA acting as a writing assistant who is able to detect grammatical and syntactic errors, as well as improve engagement and delivery.
Brad Hoover, CEO of Grammarly, said about the way the platform works:
“By enabling clear and secure communication, Grammarly’s platform helps people excel both personally and professionally. It has a real impact on our users and the ecosystems in which they work, including companies. Grammarly’s latest round of funding underscores the importance of our mission and the widespread need for effective communication. ”
Over the past year, Grammarly has seen steady growth as its user base has grown by more than 250% as user satisfaction and efficiency have improved. Startup will also launch “Grammarly for Developers,” a new desktop application that will open the door to new integrations with third-party software.