The grammatical rules obtained a billion dollar commitment from the catalyst. The 14 -year -old ASSistant Assistant will use the new money for its sales and marketing efforts, which liberates the current capital for strategic acquisitions.
Unlike the traditional adventure round, General Catalyst will not get a shareholder share in the company for investment. Instead, the grammar will work on the capital as well as a fixed percentage of revenue that you generate from using General Catalyst.
The investment comes from the General Catalyst (CVF) customer value fund, which is the capital gathering that helps later startups with expected revenue flows to spread new financing specifically to develop their business. The alternative financing strategy in CVF “adds” the capital that was secured through the company’s repeated revenues.
For companies like Grammarly, this form of financing is useful because it is not concrete and does not re -evaluate the company’s evaluation. The value of grammatical rules reached $ 13 billion in 2021, during the peak of the Zirp era. However, the company’s evaluation in the market today is much lower, according to an investor in the company who asked not to be identified.
The rules did not immediately respond to a request for comment.
In December, productive grammatics gained CODA startup Its chief executive was appointed to the leadership of grammatical rules. The company, which is developing into an Amnesty International Productivity tool after acquisition, has annual revenues More than 700 million dollars.
GENERAL CAATALYST Customer Fund provided funding for Almost 50 companiesIncluding INSURTECH lemon juice and remote health care platform. CVF maintains its distinguished limited partners and has not been included in increasing the cost of $ 8 billion.
General Catalyst Honcho Hemant Taneja and Pranav Singhvi spoke to CVF, with Techcrunch more about the group’s specialized financing strategy in last fall.
