“In our personal lives, we have tools to help us find pretty much whatever we need. Why don’t we have the search tools we need at work? And that was the beginning of Glean.”

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Glean, co-founded by Arvind Jain and Vishwanath T R along with Tony Gentilcore and Piyush Prahladka in 2019, provides an AI-driven enterprise search platform which is designed for mid-sized technology companies with 500 to 2,000 employees. Their key features include a web app, sidebar search, native search, new tab page, Slack integration and a unified platform for fast and secure AI deployment across the enterprise.

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Business Model

Glean is a SaaS platform with AI capabilities that offers knowledge management and enterprise search solutions. By providing a single content search across many systems with strong security and governance, the company targets mid-market and corporate organizations and makes money through scalable subscription licensing. Deep technical integrations that provide safe, all-encompassing information access are the main emphasis of their strategic approach.

The company's sales strategy focuses on securing early deployments in designated departments and gradually growing contracts from small start-ups to significant multi-year commitments.

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Possıble effects

Workstations, servers, and cloud services power engineers and researchers at the forefront of human knowledge.

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What Comes Next?

As of March 2024, Glean was strategically targeting expansion into three key industry sectors: financial services, retail, and manufacturing.

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Who Will benefit?

Enterprises with complex software ecosystems, particularly in technology, financial services, retail, and manufacturing.

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Glean Growth Timeline

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Glean and Competition

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Glean targets companies looking for cutting-edge information management technologies in a competitive enterprise search market that is defined by both established search solutions and new AI-powered workplace assistants.

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Prominent News

Evon Technologies Partners With Glean, For AI At Work, November 9 , 2024. - A leading Indian software development firm Evon Technologies partners will resell, maintain and implement Glean. Click here to read more.‍

Glean supports Gemini 1.5 Pro on Vertex AI and Claude 3 Sonnet on Bedrock along with broader multi-LLM support, Jun 05, 2024 - Glean announces the availability of Gemini 1.5 Pro for customers on GCP and Claude 3 Sonnet for customers on AWS. Click here to read more.‍

Glean Announces Over $260 Million Series E and Next-Generation Prompting as it Brings Work AI to the Enterprise, September 10, 2024 -  Glean raised over $260 million Series E round at a $4.6 billion valuation and their revenue shows impressive growth with ARR more than tripling over the past year. Click here to read more.

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Revenue

Based on 2024 revenue figures (source: Sacra) and latest funding round at $4.6B, Glean currently trades around a 46.80x revenue multiple.

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Return on Investment (ROI)

ROI computed as of November 19, 2024.

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Funding Round in USD

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Series E Valuation

<span class="date">2024-09-06</span>
<span class="value">$4.6B</span>

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Implied Valuation

<span class="date">2024-11-19</span>
<span class="value">$4.68B<span>

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Change Since Last Round

<span class="date">2024-09-06 → 2024-11-19</span>

<span class="value red">+1.71%</span>

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Quarterly Bid:Ask Volume Ratio

PM Insights highlights the quarterly bid:ask volume ratio where there were at least three institutionally-sized broker contributions within that period.

Since the start of October until November 19, 2024, Glean had total of $205M in bid and ask volume, which was significantly higher than the volumes observed in the previous quarters. However, 78% of the $205M was on the bid-side.

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90D Activity

Activity at each date is comprised of the total unique broker contributions (bid/ask/trade) within the last 90 days of that date. Glean's activity skyrocketed since October of 2024, which was soon after they raised $260M at $4.6B valuation.

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