Grammarly Reaches $ 13 Billion Valuation With New Funding Round To Accelerate Communications Support Market Leadership | National company

SAN FRANCISCO – (BUSINESS WIRE) – November 18, 2021–

Grammar, the company serving effective communication for more than 30,000 teams and 30 million people on a daily basis, announced today over $ 200 million in funding to a $ 13 billion valuation of new investors Baillie Gifford and funds and accounts managed by BlackRock, among others. With this latest cycle, Grammarly will accelerate product innovation and team growth to transform the way individuals and organizations around the world communicate.

Today’s digital world continues to shape the way we work and live. More and more people are connecting on more online platforms and in more diverse contexts than ever before. Good communication is essential in our hyper-connected world, it has become fundamental to achieving individual and business goals.

“Grammarly’s latest funding round underscores the importance of our mission and the overall need for effective communication,” said Brad Hoover, CEO of Grammarly. “By enabling clear and confident communication, Grammarly’s platform helps people excel both personally and professionally. This has a real impact for our users and the ecosystems in which they operate, including businesses. “

Seeking to help people wherever they write, Grammarly does not limit users to a software suite or operating system for receiving communication feedback. Its platform accelerates efficient communication between more than 500,000 applications and websites, from email clients to business software and word processors.

With a new office product, the launch of Grammar for developers, and strategic partnerships such as Grammar for Samsung Keyboard, Grammarly is poised to bring its real-time communication suggestions to more people through more apps. The company will also continue to advance its best NLP and ML technology to provide personalized communication feedback to users around the world.

According to a recent Harris Poll study commissioned by Grammarly, 94% of business leaders say effective communication is essential to achieving business goals. As this business reality has become more and more evident, the organization-oriented business offering— Grammar matters —Has experienced significant growth in demand among businesses. Over the past year, the number of clients with big dollar contracts has increased by over 250%. Teams from leading brands such as Zoom, Cisco and Expedia are leveraging Grammarly Business to accelerate productivity and engagement, reporting up to 30% improvement in customer satisfaction and an average 20% increase in efficiency .

Grammarly’s investments in enterprise level security, combined with a SOC 2 (Type 2) report, ISO 27001/17/18 certifications and HIPAA compliance, give customers the peace of mind that their data is safe and secure. The company’s business model encourages product innovation that prioritizes its users – Grammarly makes money selling subscriptions, not data.

“We are delighted to partner with the Grammarly team to democratize effective communication. As the world has gone digital, people are communicating more than they ever have, but it has never been so difficult, ”said Peter Singlehurst, Head of Private Companies at Baillie Gifford. “Grammarly is one of the few companies in the world to focus on solving this problem. What attracted us was the vision for the company and the ability of the team to move the product forward to help more people in more situations communicate better. Grammarly’s long-term and ambitious approach also aligns with our approach to investing. We look forward to many years of partnership with Grammarly.

Grammarly remains profitable and its cash flow has been positive for a short time after its inception. The company has been recognized as one of the Inc. The best workplaces of 2021, member of the 2021 Forbes Cloud 100, and one of The Software Report Top 100 Software Companies of 2021. The company has nearly tripled the number of its team members since 2019 and, with its new remote hybrid work model first -is recruitment in all departments in the United States, Canada and Ukraine.

ABOUT GRAMMAR

Using a combination of technological approaches and human expertise, Grammarly’s mission is to improve lives by improving communication. Every day, 30,000 teams and 30 million people around the world rely on Grammarly’s advanced writing assist technology to write with confidence and achieve their communication goals. Grammarly’s AI-powered suggestions provide feedback on the writing’s accuracy, clarity, engagement, and delivery, wherever it occurs. Founded in 2009, Grammarly applies more than a decade of learning to provide unparalleled and market-leading communications support. Grammar is one of the Fast business of the most innovative companies in AI, member of the Forbes Cloud 100, and one of the Inc. The best places to work. Learn more about Grammaire.com/about.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211118005487/en/

CONTACT: Shane Collins

[email protected]

702-290-3158

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: SOFTWARE OTHER INTERNET COMMUNICATIONS PUBLICATION BLOGGING MARKETING COMMUNICATION TECHNOLOGY

SOURCE: Grammar

Copyright Business Wire 2021.

PUB: 11/18/2021 08: 00 / DISC: 11/18/2021 08:01

http://www.businesswire.com/news/home/20211118005487/en

Copyright Business Wire 2021.


Source link

Back To Top