If you are a writer you must be aware of the free-to-use, powerful, auto-editing tool that comes by name of Grammarly. The editing tool has recently raised $200 million in funding at a $13 billion valuation. The money has been raised from new investors, Baillie Gifford, and funds and accounts managed by BlackRock, among others. The investment money will be used to integrate Grammarly with even more powerful business intelligence tools such as AI and enhance product acceleration.
Rahul Roy-Chowdhury, Grammarly’s global head of product, while speaking at an interview said,
“We believe this funding round is a great validation of our business strength,” he added, “We’ve been cash-flow positive from the very early days. The round also validates the strength of our mission to improve lives through improving communication. This funding round comes in the context of product innovation and product scaling.”
Rahul Roy-Chowdhury shared his plans to innovate Grammarly’s features using AI. He also added that the new features would be able to deliver personalized communication feedback to its users, additional investments would also be made to earn and strengthen user trust.
“Looking ahead, I see so much potential because, at the end of the day, it always comes back to our mission of improving communication. There’s so much change in how work gets done with remote-first global teams trying to work together. We see a huge opportunity to help people with these changing scenarios communicate more effectively. This new funding is only going to help us accelerate our efforts to do that,” he added.
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