Grammarly, It is not only a company but a brand providing a toolkit, which used today by 20 million people. It is to correct their grammar, punctuation, suggest better ways of writing, and moderate the tone of what they are trying to say to what they are about to read. These are the things that cost more than 90$ million fundings to Grammarly for improving its AI system. For more information, you can check this Grammarly review.
Brad Hoover, the Grammarly CEO’s confirmed that the company valuation would be more than 1$ billion funding, and it will gear to grow more by attracting more users for using Grammarly. They will do this by expanding the tools and features of Grammarly to the next level and out of the competition.
Official Website: Grammarly.com
So, far from the Grammarly team, I am happy to announce the new 90$ million fundings by General Catalyst to the company, including the participation of new VIPs and new investors.
Today, the toolkit is used by millions of people and across every web browser, software, and even in the smartphone application. However, the number of platforms is increasing day by day, where we use to communicate: for example, the chatting apps on the smartphone. So, you can expect these growings in the future improvements of Grammarly.
General Catalyst said, “The mountain of digital communication in increasing these days rapidly, and in the workplaces, we will be having more disturbed teams in the near future.” He also said, “Pointing to the importance of people that how they present themselves online is more effective.”
In 2017, General Catalyst also initiated the investment of 110$ million funds to Grammarly, and in 2019, they are funding 90$ million more. It means they are now 200$ million fundings investors of the Grammarly.
Today Grammarly operates on a freemium model. It means they are providing both free and premium access to the users. Whereas, the premium users will be having more access to the tools apart from usual grammar and concise checker. The premium tools like readability, tone suggestions, and plagiarism checker. The tiers of Grammarly premium servicing priced at $11.66, $19.98, and $29.95 per month. However, you can get a Grammarly discount every month.
The CEO of the company would not mention how many users are using Grammarly premium service. But, he said on a roundup that like others, most of the users use free account only. The company also confirms that they are not making any money from the Grammarly free trial accounts and the only payment they earn through the subscription only.
They have clearly mentioned their policies that “We do not sell or rent user data information for money. Neither, we depend upon the ads for earning from the users. They mentioned it earlier as well, the Grammarly is a freemium business model, and the only way to earn from the toolkit is via subscriptions only.”
It should be worth noting that the startup of Grammarly was profitable from the starting. It is when it was founded bootstrapped outfit in 2009 by Alex Shevchenko and Max Lytvyn, and they continue working on the project. Later, 2011, Hoover, who is the long-time CEO of Grammarly, joined back.
Grammarly believes in simple language, and thus, it is not even discussed that Grammarly should be available in a different language than English. It is what makes this toolkit attractive and best, among others.
Every day, the company is honored to hear out the positive reviews and mentions of the toolkit. They usually share about their lifestyle and how this toolkit makes their life more comfortable. The company has received thank you emails every day from the users, and some are also from high profiles. This toolkit is not only used by the writes but the professional bloggers as well.
The company (Grammarly) use this money to expand the features and availability of the toolkit to more customers. The businesses are distributed, and the company requires writer and prefer the way of writing communications instead of talking. It is how they reduce the costs of transmission to the companies.
At last, the company CEO and the team said. That they are happy to have such investors who share their vision and approach to the people, they believe the new fundings investment will take this toolkit to a whole new level.