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Grammarly acquires Coda, takes on co-founder Mehrotra as new CEO
Grammarly Inc., the startup best known for its artificial intelligence-powered proofreading software, today announced its intent to acquire the AI productivity platform Coda Project Inc. and bring on Coda’s Chief Executive Shishir Mehrotra as Grammarly’s new CEO.
Coda made a name for itself as a productivity suite startup competing with similar products such as Google Workspace and Microsoft 365. It combines the features of a word processor, spreadsheet and other applications into a single cloud platform with a flexible document format that a team can work together on.
Alex Shevchenko, Grammarly’s co-founder, said that since its founding 15 years ago, the company has been paving the way for using AI writing assistance for customers. That includes grammar and plagiarism checking online and embedding in productivity apps, but now the company can provide more than just assistance.
“The acquisition of Coda is a big step toward achieving our vision of a world where humans and AI work together everywhere work happens,” said Shevchenko. “We’re on a new mission to redefine productivity for the AI era.”
The companies did not disclose the terms of the deal. Coda was valued at $1.4 billion after closing a $100 million Series D funding round led by the Ontario Teachers’ Pension Plan in 2021. Grammarly’s valuation is $13 billion.
The addition of Coda will bring Grammarly a broad suite of productivity products and capabilities including Coda Docs, the company’s flagship tools for document collaboration. The company also recently launched Coda Brain, an AI document platform that brings together all the data within an enterprise within one interface no matter what application it belongs to.
Coda says it has been put to use by more than 50,000 teams at large companies, including Figma Inc., DoorDash Inc., Square and The New York Times. Grammarly’s AI has been implemented across more than 500,000 applications and websites and is used by more than 40 million people daily, according to the company. The platform has users at companies such as Atlassian Inc., Ford Motor Co. and Chevron Corp.
“Combining Grammarly’s trusted AI assistant with the intelligence and flexibility of Coda can give our customers the productivity gains they’re looking for across their entire organization,” said Mehrotra.
Photo: Pixabay
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