StartupsFeb 27
Newsdev00
Glean raises a Series D at a $2.2 billion valuation up 2.2x since May 2022
https://www.cnbc.com/amp/2024/02/27/glean-is-worth-2point2-billion-as-citigroup-databricks-workday-invest.html This comes after 4x revenue growth in 2023, with plans to expand outside of the tech industry.
AI startup Glean lures Citigroup as investor at $2.2 billion valuation after revenue quadruples
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tcmaxxxxer Feb 27So I see like two Asian guys in the back of that photo doing all the work
Okta cNew36 Mar 1
Glean is pretty good enterprise search, okta had it for awhile, integrates with a ton of stuff. They were going down an interesting path to incorporate AI into that as well. Wish they were remote.
This is interesting. AI/ML is the only part of the tech industry that is still fairly hot, and I’m surprised institutional investors are still touching startups even in this high interest rate market. It’ll be interesting to see how this pans out over the coming months and years. This could just be a lagging indicator for tech as a whole, but hopefully it helps some people become employed. TC: 105K
Apparently Glean revenue increased 9x since their Series C while the valuation only doubled. Not saying the revenue multiplier isn’t crazy high but it’s gone way down since the covid highs. Not many startups can point to the same kind of growth over the last 18 months so imo the new valuation isn’t that unreasonable.