Grammarly acquires Coda, takes on co-founder Mehrotra as new CEO

Grammarly Inc., the startup greatest recognized for its synthetic intelligence-powered proofreading software program, today announced its intent to accumulate the AI productiveness platform Coda Undertaking Inc. and convey on Coda’s Chief Government Shishir Mehrotra as Grammarly’s new CEO.

Coda made a reputation for itself as a productiveness suite startup competing with related merchandise comparable to Google Workspace and Microsoft 365. It combines the options of a phrase processor, spreadsheet and different purposes right into a single cloud platform with a versatile doc format that a complete crew can work collectively on.

Alex Shevchenko, Grammarly co-founder, stated since its founding 15 years in the past the firm has been paving the best way utilizing AI writing help for patrons. This consists of grammar and plagiarism checking on-line and embedding in productiveness apps however now the corporate can present extra than simply help.

“The acquisition of Coda is a giant step towards reaching our imaginative and prescient of a world the place people and AI work collectively in all places work occurs,” stated Shevchenko. “We’re on a brand new mission to redefine productiveness for the AI period.”

The businesses didn’t disclose the phrases of the deal. Coda was valued at $1.4 billion after closing a $100 million Series D funding round led by the Ontario Lecturers’ Pension Plan in 2021. Grammarly’s valuation is at $13 billion.

The addition of Coda will carry Grammarly a broad suite of productiveness merchandise and capabilities together with Coda Docs, the corporate’s flagship instruments for doc collaboration. The corporate additionally not too long ago launched Coda Brain, an AI doc platform that brings collectively all the information inside an enterprise inside one interface no matter what software it belongs to.

Coda says it has been put to make use of by over 50,000 groups at giant corporations together with Figma Inc., DoorDash Inc., Sq. and The New York Occasions. Grammarly’s AI has been applied throughout over 500,000 purposes and web sites and is utilized by over 50 million individuals each day, in accordance with the corporate. The platform has customers at corporations comparable to Atlassian Inc., Ford Motor Co. and Chevron Corp.

“Grammarly is a beloved software program product utilized by tens of millions of individuals daily,” stated Mehrotra. “Combining Grammarly’s trusted AI assistant with the intelligence and suppleness of Coda may give our prospects the productiveness positive factors they’re on the lookout for throughout their complete group.”

Picture: Pixabay