Grammarly, a company with Ukrainian roots, has agreed to acquire Coda, an artificial intelligence document editor. Grammarly CEO Rahul Roy-Chowdhury will step down and the companies will merge under the management of Coda CEO Shishir Mehrotra. Grammarly and Coda announced the news on their blogs.
Both companies write about a shared vision of the future of artificial intelligence, where AI will “redefine every business application and workflow”.
“We want to rethink a suite of tools and come together to provide users and teams with their own AI productivity platform for apps and agents,” writes Shishir Mehrotra, CEO of Coda.
Grammarly, a tool for correcting mistakes in English texts, will now work faster and smarter with Coda products, including Coda Brain. Grammarly's AI assistant is also planned to be added to the Coda Docs editor.
“Imagine if the Assistant not only gave amazing suggestions and refinements based on the writing it sees today but also had permission-aware connections into all of your other systems (from your email to docs to CRM to project trackers and more),” added Shishir Mehrotra.
In the long term, the companies plan to combine the “best of Coda and Grammarly” – company knowledge, generative AI chat features, a full suite of productivity tools, and hundreds of AI agents.
The amount of the deal was not disclosed. It is reported that Coda, which was founded in 2014, has raised $320 million in funding. 200 employees of the startup will join Grammarly, which now has about 1200 employees.
Previously, AIN informed that Grammarly is laying off 230 team members, 37 are in Ukraine.
