BOSTON, MA (May 9, 2017) – Aeris Partners is pleased to announce that Grammarly received a $110 million minority investment, the Company’s first institutional funding. Grammarly’s communication assistant uses artificial intelligence to help users worldwide write clearly, effectively, and accurately. Aeris Partners served as the exclusive financial advisor to Grammarly.
Grammarly was founded in 2009 and had been bootstrapped since inception. General Catalyst Partners led the financing round with participation from Breyer Capital, IVP, SignalFire and Spark Capital. Grammarly currently supports more than 6.9 million daily active users, including consumers, students and professionals.
“Grammarly is a truly exceptional company and the management team of Brad Hoover, Max Lytvyn and Alex Shevchenko represents the kind of extraordinary business and technical talent that Aeris seeks to work with,” said Stephen O’Leary, Managing Director of Aeris Partners. “The team combines a bold strategic vision with impressive execution.”
“We enjoyed the close collaboration with management in orchestrating a thoughtful and thorough process” noted Rahul Swani, Managing Director of Aeris Partners.
“We appreciate the close support, guidance and exceptional execution that Aeris provided” added Brad Hoover, Grammarly’s Chief Executive Officer.
Grammarly’s AI-powered products help people communicate more effectively. Millions of users rely on Grammarly every day to make their messages, documents, and social media posts clear, mistake-free, and impactful. Grammarly is an Inc. 500 company headquartered in San Francisco with offices in New York and Kyiv.
About Aeris Partners
Aeris Partners provides premium strategic M&A advisory services to best-in-class software and Software-as-a-Service (SaaS) companies, private equity investors and venture capital firms spanning a range of high-growth vertical markets including healthcare (HCIT), financial technology (FinTech), architecture, engineering and construction (AEC), energy & power (EnergyTech), education (EdTech), analytics, transportation and logistics, and the public sector, among others. Aeris leverages extensive technology domain expertise and an unparalleled commitment to delivering superior M&A outcomes on every transaction. The firm’s senior leadership team has successfully completed more than $18 billion of M&A advisory assignments to date. For more information, please visit: aerispartners.com.
Aeris Partners LLC is a registered broker-dealer and member of FINRA and SIPC.