Grammarly, the popular auto-editing tool for writing, has raised $200 million in funding at a $13 billion valuation from new investors including Baillie Gifford and funds and accounts managed by BlackRock, among others. The company plans to use the investment to accelerate product innovation and team growth.
“We believe this funding round is a great validation of our business strength,” Rahul Roy-Chowdhury, Grammarly’s global head of product, told TechCrunch in an interview. “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.”
Roy-Chowdhury says Grammarly plans to use the funding to continue making investments in its AI technology. The company will also continue to advance its natural language processing and machine learning tech to deliver personalized communication feedback to its users. Roy-Chowdhury also noted