Grammarly Inc, one of the most profitable tech startups in the United States, has stated that it will continue to pay full salaries and benefits to its employees in Ukraine who have joined the country’s army to fight the Russian invasion, according to the company’s chief executive officer on March 21.
CEO Brad Hoover declined to say how many of his employees had joined Ukraine’s protection effort. Prior to the conflict, nearly half of Grammarly’s more than 600 employees were based in Ukraine. Hoover stated that many of these people have since left the country or relocated to safer areas within Ukraine. Grammarly is a typing assistant that was valued by buyers in November at US$13 billion (RM54.78 billion).
When the fighting began, its departments with operations in Ukraine shifted these responsibilities elsewhere within the company. Hoover stated that he initially spent a significant amount of time on relocation and assistance efforts and that the majority of the company’s Ukrainian workforce is now back online.
Grammarly also provided paid leave of absence to employees who were forced to flee their homes due to the fighting. “This is destroying people’s lives,” said Hoover. “It’s an incredible tragedy.”
Grammarly’s global head of product, Rahul Roy-Chowdhury, stated that the company’s priorities have not changed as it prepares for the second quarter. However, he stated that some progress toward Grammarly’s goals may be slower than anticipated.
Grammarly raised US$200 million (RM842.90 million) in funding last fall from investors including BlackRock Inc and Baillie Gifford & Co. Hoover stated that the funding round was not intended to be top-up financing before an initial public offering, though an IPO or direct listing may be in the firm’s future.
