New story
Ilya St
in
Finance
October 11 09:19

Grammarly has reached “unicorn” status

According to the company’s CEO Brad Hoover, Grammarly has received $90 million in investments in its most recent fundraiser, raising its total value to over $1 billion.
37
0
Grammarly runs an online service that helps write English texts.
Participation in the second financing round attracted new investors along with current ones, with General Catalyst in the lead for a second time in a row. Since the startup was founded in 2009, the company has attracted over $200 million in investments, with its first external financing round closing in 2017 with $110 million. 
The company was started by three programmers, Dmitro Lider, Alex Shevchenko, and Max Litvin. Grammarly has developed an AI-based online service which helps write English texts. The new round of financing will be aimed at product development. Startup also plans to create a digital assistant which will aid English communication in personal and professional settings.