Grammarly is the artificially intelligent software that helps improve people’s writing, has raised fresh capital at a valuation of $13 billion, underscoring sky-high demand for technology tools that provide writing assistance.
The surge in its valuation highlights Grammarly’s spectacular growth in recent years after it launched a freemium business model in 2015, helping it amass a loyal base of millions of daily users and other big-name enterprise customers, including Zoom Video Communications Inc, Cisco Systems Inc, Dell Technologies Inc and Expedia Group Inc.
- How to choose the Best Stocks for Intraday F&O trading in India?
- Vedanta Outlook for the Week (May 06, 2024 – May 10, 2024)
- Tata Steel Outlook for the Week (May 06, 2024 – May 10, 2024)
- PFC Outlook for the Week (May 06, 2024 – May 10, 2024)
- Piramal Enterprises Outlook for the Week (May 06, 2024 – May 10, 2024)
In its previous funding round in 2019, it was valued at more than $1 billion. Grammarly said its services are currently used by roughly 30 million people every day.
In the latest round, Grammarly raised over $200 million from investors led by Baillie Gifford and funds and accounts managed by BlackRock Inc.