EdTech Startup Grammarly Raises $110 Million Dollars
Just Friday we reported that the EdTech sector was on a rise as far as venture capital funding was concerned. Th current quarter will be a strong one as well, partly in thanks to Grammarly and the $110 million dollar round they just closed.
Various news outlets across the web are reporting that Grammarly is a “spell checker” kin to the likes of the built in grammar and spell check available in Microsoft Word or even Word Press (you can tell Word Press isn’t that effective by my own personal writing). Grammarly actually takes a much deeper dive into the grammar it checks via their online web tool or their Chrome extension. For instance, Grammarly can find errors in verb tense and pronoun use. Other commercially available grammar tools are good for run on sentences, and that’s about it.
They’ve been able to onboard 6.9 million members. They offer a freemium version and an $11.99 all you can grammar check model. They’ve also been able to go eight years without raising a dime in venture capital.
Last week they announced a gigantic venture capital round. General Catalyst, IVP and Spark Capital have funded the edtech startup with $110 million dollars to continue growing the business.
It’s “growing faster than anything we normally see in San Francisco,” sJules Maltz, general partner at IVP told TechCrunch.com . “We expect this to be a meaningful company in the years to come.”
While Grammarly is great for students at any level, more and more professionals have also turned to the service. Writers, lawyers, and people looking to present themselves more professionally in email use it.
Grammarly uses algorithms, grammar rules and artificial intelligence to serve up correct grammar to the masses.
Grammarly is “using artificial intelligence to help people with the substance and content of what they write,” CEO Brad Hoover told techcrunch.