Madrid Startup Correcto Secures $7 Million in Seed Funding Amid Generative AI Surge
Correcto, a Madrid-based startup dedicated to enhancing writing for Spanish speakers, has announced a successful $7 million seed funding round, driven by London-based Octopus Ventures alongside contributions from Carya Venture Partners and River Park Ventures.
Founded in late 2021, the team set out to create a Grammarly-style tool tailored for Spanish grammar and style correction, just before generative AI tools like ChatGPT captured global attention. Co-founders Abraham López Lee (CEO) and Ignacio Prieto Mayorga (COO) were inspired by their experiences studying and working abroad, where they utilized English writing enhancements such as Grammarly. Surprised by the lack of similar tools for Spanish, they were motivated to develop an efficient solution, joined by technical co-founder Antonio Triguero Noriega (CTO) to build a minimum viable product (MVP).
Initially, Correcto launched as a Chrome extension, leveraging rules-based natural language processing and a proprietary database of Spanish phrases to offer auto-editing features. This has since expanded to a freemium web app, achieving over 120,000 downloads and around 70,000 active users.
The emergence of large language models (LLMs) like OpenAI’s ChatGPT poses challenges for AI-driven auto-editing tools. While LLMs generate a variety of written content, including in Spanish, the Correcto team believes that these outputs often lack the nuance that native speakers expect. López Lee emphasizes that texts produced by LLMs may resemble childish writing, which doesn’t meet the needs of professional users.
Correcto aims to provide a unique benefit: a real-time editing interface that fosters user learning through ongoing feedback, contrasting with the LLM model, where users merely receive a fully generated text. This approach positions Correcto not as just another AI tool, but as one that champions “augmented intelligence.” López Lee states, “We empower users to write better, focusing on enhancing their productivity without replacing the human touch that makes their writing personal.”
As machine-generated content becomes ubiquitous, maintaining an authentic, human voice will increasingly resonate with audiences, particularly in professional environments. Correcto is targeting enterprises while also maintaining a freemium version to attract individual users and gather valuable feedback.
López Lee believes that within the next five to ten years, the value of personalized writing will remain significant. “Correcto is designed to support individual voices, preserving the ‘cariño’ inherent in personal writing styles,” he explains.
The current AI boom has created a heightened demand for writing tools, partly due to the viral success of ChatGPT, which has led businesses to realize their need for effective writing solutions. Correcto has integrated OpenAI’s API to launch a feature called “Write for Me,” allowing users to specify project context and desired tone, thereby expanding beyond mere grammar correction.
López Lee asserts, “With ChatGPT altering corporation views on writing tools, previously overlooked needs are now gaining attention, and we believe there’s space for multiple unicorns in this market.”
Highlighting the significant potential in the Spanish-speaking demographic — with over 500 million native speakers compared to 373 million English speakers — Correcto’s co-founders are particularly excited about opportunities in Latin America, where many may lack confidence in professional writing.
Currently, Correcto's key markets include Colombia, Mexico, Argentina, Spain, and the United States, mainly targeting professionals involved in editorial, communications, and marketing. Their goal is to serve the surge of businesses seeking AI writing solutions with a comprehensive platform.
In light of their recent funding, which represents one of the largest seed rounds awarded to a Spanish startup, Correcto is prioritizing AI and product development, honing its focus on enhancing style and tone specific to different Spanish dialects.
Andrés Pérez Soderi, general partner at Carya Venture Partners, noted: "Correcto stands for more than just grammar correction; it merges generative AI with cultural relevance, promising tremendous opportunities for millions in Latin America. We are thrilled to support this mission and its passionate team."
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