Grammar is important, it is very important. Indeed, it is worth well over $110 million. Grammarly, a freemium application that allows people to improve the quality of the content they produce, has raised just that sum from a clutch of investors.
You might have seen Grammarly ads on YouTube. It is basically a grammar checker that allows students, writers and other people involved with content creators to ensure that their content is pitch perfect. The application has a pretty cool interface wherein mistakes are corrected as soon as they are made.
This is the company’s first round of venture funding. Participants include General Catalyst, IVP, Spark Capital and others who have together put in around $110 million into the company. Interestingly, the company is already eight years old and yet, it is only the past couple of years or so that we have really started hearing about it in earnest.
Speaking on the topic, Jules Maltz, general partner at IVP said:
growing faster than anything we normally see in San Francisco. We expect this to be a meaningful company in the years to come.
The service has around 6.9 million daily active users. True, most of the number use the service’s free tier however, there are a slew of users who spend around $12 every month in their hunt for perfect content. In return, Grammarly helps them with their sentence structure and vocabulary as well.
Along with the software, there is a Chrome extension as well that allows you to do your checking online. The company deploys artificial intelligence to help people with their content and bring out the best out of their pens, or keyboards rather. Interestingly, Grammarly CEO Brad Hoover was also on the investment team at General Catalyst. Considering the huge amount of content that is produced every single day, there is a huge market available for the company.
With this huge $110 million investment, Grammary will be able to grow at a faster clip. While we have yet to receive word from the company regarding its plans, it might use some of the funds to improve the machine learning that goes into the service.
