One of the most valuable unicorn companies with Ukrainian roots, Grammarly, is raising $1 billion in go-to-market funding from the Customer Value Fund (CVF) of investment company General Catalyst.

The investments will be used to scale sales and marketing activities, as well as strategic acquisitions. It is said that the new capital will allow the company to expand its customer base and increase product reach.

‘More than 40 million users rely on Grammarly every day, helping to generate over $700 million in revenue annually. The funding raised will enable us to continue to accelerate growth through investments in product innovation, sales, marketing, and strategic acquisitions,’ the release said.

• Grammarly’s new CEO Shishir Merotra also said that the integration of Coda and Grammarly has opened up enormous potential for new ways of working and communicating.
• As a reminder, the Ukrainian unicorn acquired the AI document editor Coda in January 2025.
• At the same time, Rahul Roy-Choudhury stepped down as CEO of Grammarly, handing over the reins to Merotra, who previously served as CEO of Coda.
• It is reported that after the purchase, the company transformed into an AI platform for productivity support, combining applications and agents based on artificial intelligence.

Grammarly is an AI tool for improving text. The company says it is used by over 40 million people and 50,000 organisations. The company’s products are integrated with over 500,000 applications and websites. It was founded in 2009 by Ukrainians Oleksiy Shevchenko, Maksym Lytvyn and Dmytro Lider. In August last year, Grammarly launched a new tool called Authorship.

According to PitchBook, the Grammarly team currently has 1,553 employees. In 2024, the company’s revenue was $700 million, which is almost 300% more than in 2024 ($178.9 million).

Source: https://ain.ua/