Glean Technologies Inc. Secures Over $200M in Series D Funding
February 28, 2024, 10:59 am
Location: United States, California, Palo Alto
Employees: 51-200
Founded date: 2019
Total raised: $300M
Glean Technologies Inc., a Silicon Valley-based AI work assistant provider, has successfully raised over $200 million in Series D funding, reaching a valuation of $2.2 billion.
Led by Kleiner Perkins and Lightspeed Venture Partners, the funding round also saw participation from existing investor Sequoia Capital, as well as new investors Adams Street, Coatue, ICONIQ, IVP, and Latitude Capital. Strategic investors like Citi Ventures, Databricks Ventures, and Workday Ventures also joined in, with continued support from General Catalyst.
The company plans to utilize the funds to fuel its growth and meet the rising demand from enterprises looking to integrate generative AI into their operations.
Founded by industry veterans Arvind Jain, T.R. Vishwanath, Piyush Prahladka, and Tony Gentilcore, Glean offers an AI-powered work assistant that leverages enterprise search and RAG technology to provide personalized, secure, and up-to-date information from a company's knowledge graph. With over 100 connectors and a centralized AI platform, Glean eliminates the need for costly professional services and manual fine-tuning, making it a cost-effective solution for businesses.
Glean's success is evident in its user engagement, with Glean Assistant users averaging 14 queries per day, significantly higher than Google's average. Users also save an average of 2-3 hours per employee per week, showcasing the efficiency and productivity gains offered by the platform.
The company's rapid growth is further highlighted by its nearly quadrupled sales over the past year, with annual recurring revenue reaching $39 million by January. Major clients like Canva Inc. and Sony Electronics Inc. have recently onboarded, underscoring Glean's appeal across diverse industries.
Looking ahead, Glean is embarking on a market expansion strategy to broaden its reach beyond the tech sector and tap into new verticals like financial services, retail, and manufacturing. This initiative will involve significant hiring to support the company's growth trajectory and meet the evolving needs of its expanding customer base.
Glean's latest funding milestone and strategic initiatives position it as a key player in the AI work assistant space, poised for continued success and innovation in the competitive tech landscape.
Led by Kleiner Perkins and Lightspeed Venture Partners, the funding round also saw participation from existing investor Sequoia Capital, as well as new investors Adams Street, Coatue, ICONIQ, IVP, and Latitude Capital. Strategic investors like Citi Ventures, Databricks Ventures, and Workday Ventures also joined in, with continued support from General Catalyst.
The company plans to utilize the funds to fuel its growth and meet the rising demand from enterprises looking to integrate generative AI into their operations.
Founded by industry veterans Arvind Jain, T.R. Vishwanath, Piyush Prahladka, and Tony Gentilcore, Glean offers an AI-powered work assistant that leverages enterprise search and RAG technology to provide personalized, secure, and up-to-date information from a company's knowledge graph. With over 100 connectors and a centralized AI platform, Glean eliminates the need for costly professional services and manual fine-tuning, making it a cost-effective solution for businesses.
Glean's success is evident in its user engagement, with Glean Assistant users averaging 14 queries per day, significantly higher than Google's average. Users also save an average of 2-3 hours per employee per week, showcasing the efficiency and productivity gains offered by the platform.
The company's rapid growth is further highlighted by its nearly quadrupled sales over the past year, with annual recurring revenue reaching $39 million by January. Major clients like Canva Inc. and Sony Electronics Inc. have recently onboarded, underscoring Glean's appeal across diverse industries.
Looking ahead, Glean is embarking on a market expansion strategy to broaden its reach beyond the tech sector and tap into new verticals like financial services, retail, and manufacturing. This initiative will involve significant hiring to support the company's growth trajectory and meet the evolving needs of its expanding customer base.
Glean's latest funding milestone and strategic initiatives position it as a key player in the AI work assistant space, poised for continued success and innovation in the competitive tech landscape.