The auto-editing tool for writing Grammarly, has raised $200 million in funding at a $13 billion valuation from new investors. That includes 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. Rahul Roy-Chowdhury, Grammarly’s global head of product, told TechCrunch in an interview:
“We believe this funding round is a great validation of our business strength. 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.”
The Grammarly plans are to use the funding to continue making investments in its AI (Artificial Intelligence) technology.
Meanwhile the app is already scaling its product offerings and achieving its goal towards ubiquity with the launch of Grammarly for Mac and Windows. The new desktop application can be used on apps such as Microsoft Office, Slack, Discord, Jira, and more.
The platform also recently announced the launch of Grammarly for Developers with the rollout of its Text Editor SDK (software development kit), which enables programmers to embed Grammarly text editing functionality into any web application.