Grammarly, a San Francisco-based startup with Ukrainian roots, has just raised $110 million in growth equity funding at an undisclosed valuation. The round was led by General Catalyst with participation from Breyer Capital, IVP, SignalFire, and Spark Capital.
The company was founded in 2009 by Kyiv natives Aleksey Shevchenko and Maksim Litvin. Its AI-powered software helps people improve writing, monitoring errors in grammar and syntax, as well as incorrect speech constructions in real time.
The program will explain why this expression should be avoided and recommends a more correct version. The program can also check the text for plagiarism.
Grammarly claims that its algorithms have been “developed by the world’s leading authorities on linguistic technology.”
The application is available in a variety of writing interfaces, including browser and desktop integrations.
The company intends to use the funds to accelerate growth, team building, and business development.
Since launching its freemium product in January 2015, the company has grown to over 6.9 million daily active users.
The company has 100 team members in SF, New York and Kyiv.
Sources: CrunchBase, FinSMEs, WSJ
