Madrid-based language writing tool startup, Correcto, has announced a successful seed funding round of $7 million. The funding was led by Octopus Ventures, with contributions from Carya Venture Partners and River Park Ventures. Correcto aims to build an auto-editing tool similar to Grammarly, tailored specifically for Spanish speakers.
Key Takeaway
Correcto, a Madrid-based language writing tool startup, has secured $7 million in funding to develop an auto-editing tool for correcting Spanish grammar and syntax. The company aims to offer augmented intelligence that empowers users to improve their writing skills while preserving their individuality. Despite competition from generative AI tools, Correcto believes its focus on language nuance and granular feedback sets it apart. The funding will be used to enhance the AI technology and expand coverage to specific dialects of Spanish.
Background
The co-founders of Correcto, Abraham López Lee (CEO) and Ignacio Prieto Mayorga (COO), were inspired to create the tool due to their experiences studying and working abroad. They had benefited from similar tech tools like Grammarly that helped improve their written English. However, they were surprised to find a lack of comparable tools for correcting Spanish grammar and syntax. This motivated them to develop Correcto, along with their technical co-founder, CTO Antonio Triguero Noriega.
The Early Version of Correcto
The initial version of Correcto utilized rules-based natural language processing and a proprietary Spanish phrase database to provide auto-editing features for grammar and style. It was launched as a Chrome extension to gauge demand and later expanded to include a freemium web app. To date, Correcto has recorded 120,000 downloads and boasts around 70,000 active users.
Competition from Generative AI Tools
The rise of generative AI tools, such as OpenAI’s ChatGPT and Anthropic’s Claude, has dramatically changed the landscape for AI writing tools. These large language models (LLMs) are capable of generating text, including Spanish, on demand. Some may argue that LLMs render auto-editing tools redundant. However, Correcto’s founders believe that the quality of Spanish text produced by LLMs trained on English inputs is not as high as desired. They highlight the importance of maintaining a professional writing style and providing feedback to users for continuous learning, which LLMs lack.
Augmented Intelligence and Personalization
Correcto differentiates itself by offering augmented intelligence rather than artificial intelligence. The aim is to empower users and complement their writing skills through an auto-editing interface that keeps humans actively involved. The founders believe that maintaining the personal touch and warmth in writing style is crucial, especially in a professional setting. They aim to provide a writing tool that enhances productivity while preserving each user’s unique voice and style.
