Grammarly, the AI-powered communication and productivity platform, has secured $1 billion in non-dilutive financing from General Catalyst's Customer Value Fund. The funding will be used to expand Grammarly's artificial intelligence offerings, scale sales and marketing, and pursue strategic acquisitions as the company transitions from a single-purpose writing assistant to a comprehensive productivity platform. General Catalyst's investment is structured as revenue-based financing, meaning the firm will not take an equity stake in Grammarly but will receive a capped return linked to revenue generated from the capital used for customer acquisition. This approach allows Grammarly to invest in growth without diluting existing shareholders. The company, founded in 2009 in Ukraine and now based in San Francisco, reports over 40 million daily users and annual revenue exceeding $700 million. Grammarly remains profitable and was last valued at $13 billion in 2021. In January, Grammarly acquired the productivity platform Coda, with Coda's founder, Shishir Mehrotra, becoming CEO. The acquisition supports Grammarly's broader move into AI-powered workplace tools, including the integration of Coda Brain. Grammarly's platform now powers AI agents across more than 500,000 applications and websites. The company has raised over $1.4 billion in total funding to date. CEO Shishir Mehrotra has stated that while there is an eventual goal to go public, there are no immediate plans for an IPO.