A COMPUTER COMPANY WITH UKRAINIAN ROOTS COLLECTS MORE THAN 200 MLN IN INVESTMENTS

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Grammarly, a Ukrainian-born IT company, has attracted more than $ 200 million in investments from venture capital firms Baillie Gifford and BlackRock, according to a press release from the company.According to the announcement, Grammarly reached a valuation of $ 13 billion.Grammarly plans to use this investment to accelerate product innovation and team growth.“Grammarly’s latest funding round underscores the importance of our mission and the great need for effective communication,” said Grammarly CEO Brad Hoover.The company will also continue to promote its natural language processing and machine learning technologies to provide personalized feedback to users around the world.“We are delighted to partner with the Grammarly team to democratize effective communication. As the world has gone digital, people are communicating more than they ever have, but it has never been so difficult, ”said Peter Singlehurst, Head of Private Companies at Baillie Gifford.“What attracted us was the vision for the company and the ability of the team to move the product forward to help more people in more situations communicate better. Grammarly’s long-term and ambitious approach also aligns with our approach to investing. We look forward to many years of partnership with Grammarly, ”he said.The company also said that the number of Grammarly employees has almost tripled since 2019 and thanks to the recently announced hybrid remote work model, the company is hiring employees in the United States, Canada and Ukraine.Grammarly was founded in 2009 by residents of Kiev: Max Lytvyn, Alex Shevchenko and Dmytro Lider. Its offices are located in Kiev, San Francisco, New York and Vancouver.Grammarly is an online grammar checking service created by Grammarly Inc. It automatically detects potential grammar, spelling, punctuality, verbal and style errors. The service is available in a web editor, a desktop app, as well as extensions for Chrome, Safari, Firefox, and Edge browsers, mobile keyboards, and an add-in for Microsoft Office.

BUSINESS, GRAMARLY, IT


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