Glean Raises 150 Million and Hits 72 Billion Valuation in Just Nine Months

Glean, an enterprise AI startup, raised $150 million in Series F funding, achieving a valuation of $7.2 billion. Wellington Management led this funding round, which followed a $260 million Series E round that increased Glean's prior valuation to $4.6 billion. Founded in 2019 in Palo Alto, Glean creates AI search engine software that enables users to develop AI agents for various functions within organizations. This software helps companies enhance knowledge discovery, automate workflows, and improve outcomes. New investors in this round included Khosla Ventures and Bicycle Capital, while existing investors such as Altimeter and Sequoia Capital also participated. Glean has secured nearly $770 million in total funding and employs over 800 staff members. The company reported over $100 million in annual recurring revenue in its last fiscal year, serving clients like Booking.com and Grammarly. CEO Arvind Jain indicated that the funding would facilitate product enhancement, partnership expansion, and international growth. Additionally, significant interest in AI funding continues, with AI-centric companies attracting nearly half of U.S. venture capital funds. Anysphere, known for its AI coding assistant, raised $900 million at a $9.9 billion valuation, highlighting the increasing investment in AI technologies. The first quarter saw a record $59.6 billion in global AI funding, with 53% of total venture capital directed towards this sector.

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