Grammarly is not a public company and therefore does not have a stock symbol.
Grammarly, known for its digital writing assistance tools, has undergone significant funding rounds to support its growth and innovation. In its most recent funding round in November 2021, the company raised over $200 million, reaching a valuation of $13 billion. This round included new investors such as Baillie Gifford and funds and accounts managed by BlackRock, among others. The funds were aimed at accelerating product innovation and expanding the team, as well as enhancing Grammarly’s AI technology and natural language processing capabilities.
Prior to this, Grammarly had raised $90 million in October 2019 at a valuation of over $1 billion. This round was led by General Catalyst, which also led Grammarly’s earlier funding round of $110 million in May 2017. The company’s focus has been on using these investments for product scaling, technological advancements, and ensuring user trust.
Grammarly has consistently been profitable and cash-flow positive from its early days. The company’s business model is based on a freemium approach, where it offers basic services for free and more advanced features through paid subscriptions. This model allows Grammarly to focus on user-centered product innovation without relying on selling data or ads.
These funding rounds have played a crucial role in Grammarly’s mission to improve communication globally by providing advanced writing assistance through its platform.
What is Grammarly?
Grammarly is a digital writing assistance tool that utilizes artificial intelligence and natural language processing to check and improve writing quality. It helps users detect grammar, punctuation, and spelling errors, as well as suggest style and tone adjustments. Grammarly can be used in various formats including a web-based editor, a browser extension for Chrome, Safari, Firefox, and Edge, a Microsoft Office add-in, a desktop application, and a mobile keyboard app.
The tool offers features such as:
Grammar and Punctuation Checker: It checks for basic to advanced grammar and punctuation errors.
Spell Check: It performs a thorough spell check.
Plagiarism Detector: The premium version includes a feature that checks for plagiarism by comparing your writing to billions of web pages.
Writing Style Suggestions: It offers suggestions to improve clarity, engagement, and delivery of content.
Tone Detection: It analyzes the tone of the message to ensure it matches the intended audience and purpose.
Grammarly is widely used by students, professionals, and anyone looking to improve the quality of their writing. It’s available in both free and paid versions, with the paid version offering more advanced features.
Grammarly faces competition from several other tools that offer similar grammar checking, style improvement, and writing enhancement features. Some notable competitors include:
- Hemingway App: This tool is known for its readability score and online editor, along with desktop apps for Windows and macOS. It helps improve the conciseness and clarity of writing.
- WhiteSmoke: It offers a grammar checker, style checker, plagiarism checker, and translation tools. WhiteSmoke is available as a browser extension for various browsers and also has desktop and mobile apps. It’s noted for its comprehensive features but does not have a free version.
- Readable: This tool focuses on checking the readability of your writing using algorithms like Flesch-Kincaid and Gunning-Fog. It also includes a grammar and style tool, keyword density tool, and URL analysis for web pages. Readable offers a seven-day free trial but does not have a completely free version.
- WordTune: Unlike traditional proofreading tools, WordTune specializes in full sentence rewrites, offering multiple suggestions for rephrasing sentences. It also provides a Chrome extension and an online editor, with a free version available.
- Ginger: This tool offers grammar checking, suggested rephrasing, dictionary lookup, and translation tools. Ginger is available as an online editor and through browser extensions and mobile apps. It has a free version with basic features.
- Sapling: Aimed at sales and support teams, Sapling offers grammar correction and style suggestions and integrates with various CRMs and helpdesk tools. It has a free plan and focuses on helping teams respond more quickly to customers.
- PaperRater: This tool is geared towards student papers and personal essays, offering grammar checking and plagiarism tools. It also provides essay scoring and has a free version available.
- Reverso: Primarily a translation tool, Reverso also offers spell checking and grammar checking in English and French. It provides basic error corrections in its free version and more advanced features in its Premium plan.
- Slick Write: A free tool that checks for complex sentences and excessive adverbs, Slick Write offers customized feedback and detailed reports on writing. It includes a Chrome and Firefox extension and an online editor.
Each of these tools has its unique features and pricing plans, making them suitable for different users based on their specific needs and budgets.
We Hate Paywalls Too!
At Cantech Letter we prize independent journalism like you do. And we don't care for paywalls and popups and all that noise That's why we need your support. If you value getting your daily information from the experts, won't you help us? No donation is too small.