Grammarly Is Now the 10th Most Valuable U.S. Startup

(Bloomberg) -- Grammarly Inc., the software developer behind a popular writing assistant, increased its valuation to $13 billion in a new funding deal, placing it among the 10 most-valuable startups in the U.S.

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The financing round raised more than $200 million from investors including Baillie Gifford & Co. and accounts managed by BlackRock Inc., Grammarly said. It puts the company at No. 10 on a ranking of U.S. startups by valuation compiled by research firm CB Insights.

Some 30 million people use Grammarly software each day, according to the San Francisco-based company. Its success underscores the demand for more sophisticated tools to improve people’s writing beyond spell checkers. Grammarly works with more than 500,000 applications, including Microsoft Word, various web browsers, email apps and social media.

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