Grammarly, a unicorn with Ukrainian roots, has raised $1 billion from General Catalyst

Grammarly, one of the most expensive unicorn companies with Ukrainian roots, has raised $1 billion in go-to-market financing from the Customer Value Fund (CVF) of the investment company General Catalyst. The company shared the news with AIN. 

The investment will be used to scale up sales and marketing activities, as well as strategic acquisitions. The new capital is expected to expand the customer base and increase the product’s reach.

“More than 40 million users rely on Grammarly every day, helping to generate more than $700 million in revenue each year. The financing will allow us to continue to accelerate growth through investments in product innovation, sales, marketing, and strategic acquisitions,” the release said.

• Grammarly’s new CEO Shishir Mehrotra also said that the integration of Coda and Grammarly has opened up huge potential for new work and communication formats.

• As a reminder, the Ukrainian unicorn acquired the AI document editor Coda in January 2025.

• At the same time, Rahul Roy-Chowdhury stepped down as CEO of Grammarly, handing over the reins to Mehrotra, who had previously served as Coda’s CEO.

• After the acquisition, the company reportedly transformed into an AI productivity platform that combines applications and AI-based agents.

Grammarly is an AI tool for improving text. According to the company, it is used by more than 40 million people and 50,000 organizations. And the company’s products are integrated with more than 500,000 apps and websites. In 2009, it was founded by Ukrainians Alex Shevchenko, Max Lytvyn, and Dmytro Lider.