Correcto is a Madrid-based startup, and it has developed an automatic writing tool for the Spanish language.
Its beginnings, a Chrome extension, evolved into what it is today, a freemium web application, with more than 120,000 downloads and 70,000 active users.
The company has raised €7 million in a seed funding round led by Octopus Ventures, capital that will mainly go towards developing its artificial intelligence technology and expanding its market presence.
Correcto is not limited to grammar correction; based on rules and a proprietary database of Spanish phrases, it uses natural language processing. In addition, the company has also integrated the OpenAI API to offer a feature called "Write for me", which goes beyond simple grammar corrections.
Although there are already models such as ChatGPT that can generate Spanish text, the quality is not comparable to that of a native speaker, according to Correcto's founders. The company sees this not as a threat, but as an opportunity to offer an accurate and educational tool.
Correcto has a particular focus on Latin America, where it sees a great opportunity due to the lack of access to quality professional writing education in Spanish. The countries with the highest usage of Correcto are Colombia, Mexico, Argentina, Spain and the United States.
Although there are other companies offering similar functions, so far, Correcto stands out for its focus on the Spanish language and its fine-tuning technology for different dialects of the language.
Correcto is not ruling out the possibility of a strategic exit to one of the AI giants, provided they can scale their user base and demonstrate the efficacy of their technology.
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10 de Octubre, 2023