The majority of the company's users avail of the free offering...
Not that long ago, we told you about Grammarly, the extension for your browser that helps eliminate typos from your online communications.
This simple service saves many from the embarrassment of sending a typo-laden email or tweet. The basic service is available for free, with a premium option on offer too. Prices for this start from around €12.
The company is now raising $110 million from General Catalyst, IVP and Spark Capital in the hopes of taking their business even further.
This is the first time the company has done something like this in its eight-year history. Those backing Grammarly expect great things.
It’s “growing faster than anything we normally see in San Francisco,” said Jules Maltz, general partner at IVP. “We expect this to be a meaningful company in the years to come.”
At present, Grammarly has 6.9 million daily active users. The majority of those who use the service avail of the free, basic option. There are a number of users who pay the subscription. For this, users receive help with sentence structure and vocabulary.
Grammarly is “using artificial intelligence to help people with the substance and content of what they write,” said CEO Brad Hoover. The company plans to use the funding to hire more staff and improve the algorithm.