Glean AI, a startup founded by former Google search engineers that uses OpenAI’s large language models to help workers search through their companies’ internal data, is in talks with investors to raise at least $200 million at a $2 billion pre-money valuation, according to two people with knowledge of the discussions.
Kleiner Perkins, which also invested in Glean’s three earlier rounds, is discussing co-leading the latest funding, according to one of the people. The funding would double Glean’s valuation from May 2022 and follows a rise in the company’s annual recurring revenue to more than $30 million as of this quarter, at least three times higher than its pace last year. The deal points to investors’ continued appetite for startups generating revenue, particularly those aimed at corporate clients, while the demand for the youngest startups has started to cool.
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