TypeScript is a typed superset of JavaScript developed by Microsoft that can be used for both client and server-side development. It provides optional static typing, classes, and interfaces to JavaScript and is transpiled to JavaScript. Some key features of TypeScript include support for basic types like boolean, number, string, enums, generics, and decorators. It also supports features like classes, modules, and arrow functions. TypeScript code can be compiled to standard JavaScript so it works across all JavaScript environments.