Grammarly has received $90 million in its latest round of funding, led by returning investor General Catalyst, with help from IVP and other new investors. The money will go towards advancing the technology that enables the AI-powered writing assistant platform, as well as product development initiatives to support enterprise clients, the company said.
Why we should care
Marketers use Grammarly to help finetune content projects. The platform offers wide-ranging capabilities, from simple editing and grammar recommendations to more sophisticated tools such as a tone detector that can be used to make sure language conveys an intended tone. With this new investment, Grammarly’s technology could become even more intuitive to the needs of its users.
More than 2,000 businesses and institutions use Grammarly to help improve content and communications. The company has been investing in technology to make recommendations beyond basic grammar corrections.