Some people really need help with grammar. By the way, «a lot» is two words. «Your» and «you’re» are not the same thing. Grammarly has been quietly building..<\/b>
\nSome people really need help with grammar. By the way, \u201ca lot\u201d is two words. \u201cYour\u201d and \u201cyou\u2019 re\u201d are not the same thing.
Grammarly has been quietly building a freemium grammar checker to help students, writers and people who want to make a good impression on social media or email. Now they\u2019 re raising $110 million from General Catalyst, IVP, Spark Capital to take their business to the next level.
This is the first venture round for the eight-year-old startup. Investors are betting big because Grammarly has already shown itself to be profitable.
It\u2019s \u201cgrowing faster than anything we normally see in San Francisco, \u201d said Jules Maltz, general partner at IVP. \u201c We expect this to be a meaningful company in the years to come.\u201d
Grammarly has 6.9 million daily active users, most of whom use the service for free. The startup makes money on the users who pay $11.99 per month for help with sentence structure and vocabulary.
There are an array of spell checkers, but Grammarly hopes to convince customers that its offerings are better than what you\u2019 d find with Google or Microsoft. It also has a Chrome extension that enables it to proofread online documents.
Grammarly is \u201cu sing artificial intelligence to help people with the substance and content of what they write, \u201d said CEO Brad Hoover. He plans to use the funding to hire more staff and improve the algorithm.
Hoover used to be on the investment team at General Catalyst. After coming across Grammarly, he saw an opportunity to grow the Ukraine-founded business.
Jeremy Philips, a general partner at Spark Capital, said that they invested because they \u201clove the product and the mission of improving the way people communicate.\u201d<\/p>\n

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Sentiment rank: 1.5<\/div>\n

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