AI Startup Glean Doubles Valuation to $4.6 Billion After Securing $260 Million in Funding

AI-powered search startup Glean announced it has raised $260 million in a Series E funding round, doubling its valuation to $4.6 billion. The Palo Alto-based company, founded in 2019, competes with tech giants like Microsoft and Amazon in the rapidly evolving generative AI space. Glean’s latest round, led by Altimeter and DST Global, brings its total funding to over $600 million.

The funding round attracted new investors, including Craft Ventures, Sapphire Ventures, and SoftBank Vision Fund 2. Existing investors such as Coatue, General Catalyst, and Sequoia Capital also participated. Glean, ranked No. 43 on the CNBC Disruptor 50 list, is positioning itself as a leader in enterprise AI search, offering tools that leverage conversational AI to help businesses retrieve and organize internal data quickly.

Founder and CEO Arvind Jain, a former Google engineer, launched Glean to serve as an AI-powered enterprise search engine. Jain compares Glean to “Google and ChatGPT for businesses,” providing efficient answers through its cognitive search tools. Glean’s competitors include Microsoft Copilot, Amazon Q, and other cognitive search platforms like Perplexity and Lucidworks.

Jain emphasized the transformative potential of AI for businesses, calling it a technological shift comparable to the internet and cloud computing. As global enterprise spending on generative AI is expected to surge from $16 billion in 2023 to $143 billion by 2027, Glean is well-positioned to capitalize on this trend, joining the ranks of AI unicorns shaping the future of enterprise technology.