Introduction

While the study continues to be focused on the increase and growing sophistication of voice-based interfaces, there is a startup that is applying artificial intelligence to enhance how we interact through the written word.

It has raised a round of funding to benefit from its already profitable growth.

The Story of Grammarly

Grammarly, which gives a toolkit is used by 20 million people to correct their written grammar.

It suggests better ways to write articles and manage the tone of what they are speaking, which depends on who will be doing the reading.

Brad Hoover, the company’s CEO, said that the funding weapons the company’s valuation to more than $1 billion, while it gears up to expand to more users by increasing Grammarly’s tools and leading them to more platforms.

Now, Grammarly can be used over a number of browsers through browser extensions.

It can be used as a web app, by mobile and on desktop apps, and by specific apps such as Microsoft Office. 

But in the present era of communication, the amount of places where we write to each other is growing all the time.

For example, think, how much we use chat and texting apps for relaxation and for work, so assume that list to continue growing.

More About The Current Investment 

This current round is being managed by General Catalyst, which had also supported lead it’s previous and only other round, for $110 million in 2017.

With support from previous investor IVP and other, unnamed backers, it takes the total raised by the startup to $200 million.

Grammarly presently works on a freemium model, where paid tiers give users added tools beyond grammar checks and conciseness, which includes things like readability discovery, alternative dictionary and tone ideas, and plagiarism checks.

 Users can get Grammarly in tiers that are rated at $11.66, $19.98, and $29.95 per month.

It is worth seeing that Grammarly has been successful almost from the start when it was established as a bootstrapped equipment in 2009 by Alex Shevchenko and Max Lytvyn, who remain to work on product and income at the company individually.

 Hoover is the startup’s longtime CEO, who had joined back in 2011.

Looking ahead, while Grammarly will be obtaining its way to more platforms, the firm will be building more tools, particularly to better customers and the problems that are more precise to them.

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Conclusion

Grammarly has successfully harnessed artificial intelligence to revolutionize the way people write, making it easier to enhance grammar, tone, and readability. With a user base of 20 million and a valuation of over $1 billion, the company continues to expand its reach across various platforms, including browsers, mobile apps, and desktop tools. With ongoing investments and a freemium model, Grammarly is positioned to grow further, continuously improving its product offerings to cater to the diverse needs of its customers. As the demand for effective written communication tools increases, Grammarly is set to play a significant role in transforming how we interact through text.

FAQs

1. What is Grammarly and how does it work?
Grammarly is an AI-powered writing assistant that helps users improve grammar, tone, readability, and conciseness. It offers tools such as grammar checks, readability suggestions, tone analysis, and plagiarism detection.

2. How many people use Grammarly?
Grammarly is used by 20 million people globally.

3. What is the freemium model of Grammarly?
Grammarly offers a freemium model where users can access basic features for free, while paid tiers ($11.66, $19.98, and $29.95 per month) offer additional tools, including readability checks, alternative dictionary suggestions, and plagiarism detection.

4. Who is leading Grammarly’s current investment round?
The current round of investment is being managed by General Catalyst, with support from previous investor IVP and other unnamed backers.

5. How much funding has Grammarly raised in total?
Grammarly has raised a total of $200 million, including its most recent funding round.

6. What is Grammarly’s future direction?
Grammarly plans to expand its platform availability and continue developing new tools to address customer-specific challenges and needs.

7. When was Grammarly founded?
Grammarly was founded in 2009 by Alex Shevchenko and Max Lytvyn.