1 week ago
5
AI-powered writing assistant, Grammarly has acquired email efficiency tool Superhuman as part of the company’s push to build an artificial intelligence-powered productivity suite and diversify its business.
That’s according to Reuters, which quoted company executives.
The San Francisco-based companies declined to disclose the financial terms of the deal.
Superhuman, once an exclusive email tool boasting a long waitlist for new users, was last valued at US$825 million in 2021, and currently has an annual revenue of about US$35 million.
The acquisition follows Grammarly’s recent US$1 billion funding from General Catalyst, which gives it dry powder to create a collection of AI-powered workplace tools.
Founded in 2005, the company has over 40 million daily users and an annual revenue exceeding US$700 million.
It’s working on a name change with an ambition to expand beyond grammar correction.
Superhuman, with over US$110 million in funding from investors, has been trying to create an efficient email experience by integrating AI.
The company claims its users send and respond to 72 per cent more emails per hour, and the percentage of emails composed with its AI tools has increased fivefold in the past year.
It also faces growing competition as email giants from Google to Microsoft are adding more AI features.
English (US) ·