Last week, we evaluated a study conducted by AI platform Glean (in junction with technology research and advisory firm ISG). Are the quote-unquote “right risks” being taken in regard to advancements in artificial intelligence? Are future-minded individuals and corporations alike plunging headlong into “wrong risk” territory? What are leaders across technology sectors saying about generative artificial intelligence (GenAI), and are their investments sound? We took a look at the Glean-ISG report and learned a lot; read that story in full here.
Today, we have additional Glean-centric news to share.
Recently, Glean was able to raise a whopping $200 million in a Series D funding round (at an even higher $2.2 billion valuation), led by investors from the following organizations:
(Editor’s note: When we typically cover successful funding rounds, there aren’t more than a dozen investors listed. Evidenced here by the many involved with Glean, its efforts to enable teams to harness GenAI responsibly are clearly worth the investment.)
Founded in 2019 by a seasoned team of former Google search engineers and other industry vets, Glean went from a turnkey knowledge management solution connecting SaaS applications to a full-blown (and rapidly recognized) enterprise GenAI solution. Glean, seeing huge demand for its offerings, not only went on to introduce a low-code centralized AI platform that allows companies to build custom GenAI tools; Glean ended up nearly quadrupling its annual recurring venue. (That’s a hefty sum being funneled into palatable, responsible and scalable GenAI.)
Per Arvind Jain, co-founder and CEO of Glean:
“We are at the beginning of one of the biggest transformations in tech; generative AI is an incredibly powerful technology that will unleash productivity and new efficiencies, but it must be applied in the right ways to be useful and safe in the enterprise. That is why our approach to bringing generative AI forward has centered around the powerful search and RAG technology that’s critical for making LLMs useful in the enterprise, and the customer success we’ve seen in the last year definitely validates our approach.”
And per testimony from Kleiner Perkins’ Marmoon Hamid:
“The opportunity for Glean is enormous. We have so much conviction in the team’s ability to provide the generative AI solution for the enterprise that we co-led this round after investing in every round prior to this, after leading their Series A in 2019. I’ve spent my venture career investing in applications that enable knowledge workers to be more productive (whether it's Slack, Box, or Figma), and see huge potential in Glean to change the way that people work. The tremendous growth and customer demand that they’ve seen over the last year is best-in-class, and no team is better suited to deliver safe, responsible generative AI that can be used across businesses of all sizes and sectors.”
Edited by
Greg Tavarez
