Glean, a five year-old startup that says its goal is to build "Google for Work" using generative AI, has secured a fresh round of $260 million in venture capital funding. The deal values the company at $4.6 billion—double what it was worth just six months ago.
The company, which counts Reddit, Instacart, and Pinterest among its customers, also said its annual recurring revenue had more than tripled over the past year, although it did not provide a specific sales figure.
The new funding round—which marks Glean's Series E, or its fifth major institutional funding round—was co-led by Altimeter Capital and DST Global, with participation from new investors Craft Ventures, Sapphire Ventures, and SoftBank Vision Fund 2, and existing investors Coatue, General Catalyst, ICONIQ Growth, IVP, Kleiner Perkins, Lightspeed Venture Partners, and Sequoia Capital.
