The Ukrainian Startup Grammarly Is Valued At $1 Billion
According to TechCrunch, the Ukrainian startup Grammarly has been recently valued at over $1 billion. The active user base of the startup is 20 million people.
Grammarly’s CEO, Brad Hoover, confirmed the figures in his interview with TechCrunch. Recently, the startup raised $90 million in investment. General Catalyst Fund became the leading investor. The fund also channeled investments into the company back in 2017, at which time Grammarly managed to raise $110 million. Overall, Grammarly raised $200 million in funding for the development of its service.
Hoover also pointed out that the company plans to expand and launch Grammarly on more platforms. As of now, Grammarly can be used through the website, browser extensions, mobile applications and MS Office.
Grammarly was founded in 2009 by Oleksiy Shevchenko, Maksym Lytvyn and Dmytro Leader from Ukraine. Brad Hoover joined the team two years later. Grammarly is an online service used to check English spelling. The tool also produces grammatical and stylistic recommendations to improve the copy.