Grammarly raises fresh capital fund at a valuation of $13 billion

Grammarly uses machine learning to assist not only with basic writing, but also spell-check, grammar, tone of language and context.

Grammarly, which makes artificially intelligent software that helps improve people's writing, has raised fresh capital at a valuation of $13 billion, underscoring sky-high demand for technology tools that provide writing assistance.

The surge in its valuation highlights Grammarly's stunning growth in recent years after it launched a freemium business model in 2015, helping it amass a loyal base of millions of daily users and other big-name enterprise customers including Zoom Video Communications Inc, Cisco Systems Inc , Dell Technologies Inc and Expedia Group Inc .

In its previous funding round in 2019, it was valued at more than $1 billion. Grammarly said