Ukrainian Grammarly attracts $90 million investment
Ukrainian tech company Grammarly, which develops an AI communication assistant, has raised a $90 million investment. The new round, like the previous one, is being led by General Catalyst. Existing investors including IVP, as well as new ones, also participated in the round.
Thus, Grammarly already has a total of $200 million in investments. According to TechCrunch, the company officially became a unicorn.
About Grammarly
Grammarly develops a digital writing tool using artificial intelligence which helps to write texts in English.
The company plans to invest towards further improvement of the technology. Grammarly’s goal is to create a comprehensive assistant for personal and professional communication in English.
Grammarly intends to improve its product and will continue to work on more complex aspects of language and communication, in particular on the development of the recently launched tone detector.
History & Growth
The company was founded by Ukrainians Maksym Lytvyn, Oleksii Shevchenko, and Dmytro Lider in 2009 in Kyiv.
Grammarly is a profitable company since 2011.
According to the company, since the first round of investment in May 2017, Grammarly has increased the number of users more than three times. Currently, it has got more than 20 million daily active users.
