Correcto, a language writing tool company located in Madrid that focuses on Spanish speakers, has recently announced that it has raised $7 million in a seed round led by London-based Octopus Ventures, with participation from Carya Venture Partners and River Park Ventures. The Spanish firm hopes to take its product development, worldwide expansion, and team strengthening to the “next level” with this investment round.
Co-founded in 2021 by Abraham López Lee, Ignacio Prieto Mayorgas, and Antonio Triguero Noriega, Correcto is a SaaS platform offering real-time Spanish linguistic corrections through artificial intelligence and machine learning. The startup already has a strong presence in Argentina, Colombia, and Mexico. According to the company, the Latin American market is particularly attractive as it is the region with the highest number of Spanish speakers.
The startup will concentrate its efforts in Spain, the United States, and Latin America. With more than 591 million Spanish speakers worldwide, Correcto seeks to offer solutions that improve writing in Spanish and, in doing so, open doors to higher-paying opportunities for this large population group.
Speaking on the fundraising, the founders of Correcto said in a statement:
We want to express our sincere gratitude to all investors, team members, customers and partners who have been with us on this exciting journey so far. Your unwavering support and faith in Correcto has been instrumental to our continued success.
They further added:
For Correcto, it is a significant step to continue our growth over the last two years. It has also been a very motivating time for the entire team, where the great enthusiasm and motivation of each of the company’s members is reflected.
Correcto aims to become the global standard-bearer for the Spanish language.